A change is coming to the way that people purchase Real Estate today. This change reflects the current economic conditions and the new way that buyers see that reality. We are in a period of time when it is difficult to obtain a new mortgage (even with good credit and job history). This period will likely last until the economy eases back into a more normal mode. In the meantime a method of purchase that has been used for years (not very frequently in the recent past), is becoming the method of choice for a lot of buyers in todays real estate marketplace.
Lease Purchase is an arangement which allows the Buyer to occupy the property while they are preparing to purchase it. Another way to view it is a sale with an extended closing date. The buyer has a place to live and the seller has his expenses covered on the property until the title is transferred. The benefits go well beyond that however. Let's take a look at the advantages for both buyer and seller:
Buyer Advantages:
- Lower Initial Investment (down payment).
- Lower Monthly Payments.
- Time to work out issues with jobs, credit, or money.
- Time to search for the most favorable long term financing.
- Easier Qualifying.
- Quicker move in.
Seller Advantages:
- Higher Sales Price
- More competitive in difficult real estate market
- Covers carring costs of property
- Seller retains Tax Benefits until closing.
- More security because tenant living in the house is going to be the new owner.
Follow this link to Homes that are available using the Lease Purchase Method:
http://www.kstrealty.com/lease-purchase/
Thanks,
Dan Simpson, 404-597-5381
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