Buy Your First House from a Wholesaler

Wholesale Real Estate Fairfax VA: A first home purchase doesn’t have to wait as long as you might think. Are you waiting until you have saved a huge down payment? That’s certainly admirable, but are you paying rent in the meantime? You are paying your landlord’s mortgage for him and you’ll have to move when you decide to buy a house of your own.

What if you could be living in a rent option or lease option situation instead and stay right where you are while building your own credit, down payment, and preparing to buy the home you currently live in? That’s what wholesalers are doing for buyers these days. They are in the business of buying and selling properties to turn a profit, but with the current market trends, it has become a different atmosphere than just a decade ago. Wholesalers are real estate investors and do what it takes to keep things rolling along.

A new creative home sales market has been created that allows for a situation that benefits both the buyer and the seller. The buyer finds a house that is offered by the wholesaler for lease option. It seems like a great neighborhood, the monthly payment will work, and you’ll get to start saving for the down payment within the contract of the lease option. The wholesaler holds your funds for a specified period of time with the agreement that you will obtain a mortgage loan and buy the house from him when that happens. In the meantime, you will be securing your stable employment, paying your monthly obligations on time to improve your credit score, and are saving for your down payment, usually through the agreement contract.

In other words, your agreement might include a $100 additional monthly payment on top of the rent payment that goes into your down payment account to be spent when you convert the lease/rent option to a straight purchase. These are great deals if you are a first time home buyer, have no established credit, or want to clean up your credit before applying for a mortgage loan. A big advantage is that you will be living in the house you wish to buy long before you qualify for a mortgage loan to buy it. Another advantage is that if you live there for a year or two and decide that you hate the area or something about the house, you can leave before you obtain a 30 year mortgage.

DJJ Properties is a real estate company based in Fairfax County, Virginia who handles both commercial and residential properties.

The culture of the company is to assist people with appropriate decisions in buying and selling real estate. “We like to help people solve problems in real estate”.

For more information on DJJ Properties please contact us today!