Lease-Purchase Information for Home Sellers
What is a lease-purchase?
A lease-purchase is nothing more than a sales agreement, with an extended closing date, and a lease to control the relationship between initial occupancy and closing.
Why would a Seller offer a lease-purchase arrangement?
There are times when a homeowner wants to sell, but is unable to for a variety of reasons. If the reason has to do with insufficient equity in the subject property, a lease-purchase may be a good alternative. Depending on how the contract is crafted, you may be able to capture some equity on the front end from the tenant deposit, and over time, to the extent that monthly payments exceed the rental rate. You may also build in contract provisions for sales price acceleration to match valuation at the time of closing. The lease-purchase method of selling is often considered complex, but it really is not difficult, if you have professional guidance. If you want to know if this method is right for you, contact us for a confidential no-fee consultation.
Why would 3 Options Realty be the place to go for this service?
At 3 Options Realty we specialize in working not only with sellers and buyers, but also with tenants and landlords. The fact that we have the experience and operating systems to lease and manage property is one of the principal differences in this brokerage over traditional brokerages. A critical component to a successful lease-purchase is the property management aspect. If the management period of the lease-purchase does not go well, the deal will collapse. And even though we make security provisions for such occurrences, nobody wants to see the deal fall through. Usually the security provisions are only enough to make the seller whole, and then we have to start all over again. If you want to actually see the deal through to closing, 3 Options Realty is the place to go.
We serve the metro Atlanta area including the communities and cities of Roswell, Alpharetta, Cumming, Marietta, Woodstock, Lawrenceville, Johns Creek, East Cobb, Gainesville, Dacula, Buford, Sugar Hill, Acworth, Holly Springs, Canton, Smyrna, Vinings, Powder Springs, Douglasville, Sandy Springs, Norcross, Duluth, Dunwoody, Kennesaw, Milton, Tucker, Stone Mountain, Lilburn, and Ellijay. We also serve the following counties: Cherokee County, Cobb County, Fulton County, Forsyth County, Gwinnett County, Dawson County, Gilmer County, Dekalb County, Douglas County, Henry County, Clayton County, Fayette County, Henry County, Bartow County, Floyd County and Gordon County.