Attention Buyers & Sellers! Should You Consider A Lease Option?

It is no secret to anyone by now that we are in the midst of very dynamic economic times and a rapidly changing real estate environment. And, as is always the case, opportunities and challenges are created during these changing times. In addition, tactics and strategies that were once useful or useless in the past may now have just the opposite status.

A Lease/Option is an avenue for buying or selling real estate that now may have some application in the market that may not have been as useful several years ago. This tool is best used when it is mutually beneficial to both buyer and seller. Several parameters may fall into place that makes this strategy a win-win for all involved.

From a seller’s stand point—if the home was to be rented when vacated or is currently vacant, if the seller does not need all of the equity immediately or is not planning on purchasing immediately—then a Lease/Option type of sale could be considered.

And from a buyer’s stand point—if the required down payment is not available today, but will definitely be at a future date, credit scores are low now but improving soon or a higher paying job is imminent—then a lease option may be very useful.

A Lease/Option consists of a purchase agreement, lease agreement and option agreement. Terms to be considered include purchase price, monthly rent amount, amount of non-refundable deposit, length of Lease/Option period and other considerations.

A Coldwell Banker Grass Roots Realty Realtor® can further explain the details and applications of this strategy and its usefulness to you. To further assist you we have included a partial list just below and to the right of several of our listed properties that will consider this process.

Whether you’re selling your current home, buying your new home, or both, call us and experience why more home buyers and sellers call us than any other real estate company in Nevada County.

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