If you are a home owner with a property for sale, lease to own one of your best options. The economy has changed dramatically in the last few years. Unemployment has reached record highs. Interest rates are down, but that's not a factor since most homeowners are upside down on their mortgages anyway, compliments of the housing bust. Buyers in general are having a more difficult time securing a traditional mortgage for reduced reasons.
The average home price in some areas are twenty-five to fifty percent. Lack of buyers, but lack of qualified buyers.
Foreclosure and short sales has driven home values down well. Homes are appraised by comparing the average sales price of homes in a specific area that are similar in size, condition, etc.It is so many homes in foreclosure, and individual. The banks have a surplus of foreclosed homes in every community in the country, and their price is much cheaper. A regular homeowner can not compete. This leaves the homeowner with a property that he can not sell, and if he does he gets a fraction of its true value. This is when it becomes lease becomes own option.
Most lease to own companies look for two types of buyers. Buyers that are relocating tend to be great candidates for lease contracts. Relocating buyers are looking to move quickly and start a new job while they are doing their job. The second kind of buyers are high income clients with some past credit problems.
The advantages for a homeowner willing to lease to own are many. You can get the price you are looking for. Another plus, most lease to own companies wants to help buyers improve their credit scores. If buyers are serious about being financed, their credit scores are usually repaired by the end of the lease period. The lease period usually lasts no more than two years. No commissions or closing costs for the seller is another great incentive. Closing costs run in the thousands. Commissions for realtors are about five percent of the home price. These two factors alone save the homeowner usually $ 10,000 or more.
National online lease to own companies are ideal for sellers and buyers who are considering lease contracts as an option. Seventy to eighty percent of all home buyers look at their homes before they even visit a home, reported by a consumer research agency.
In conclusion, lease to own a great option for homeowners selling their property, and buyers looking to close quickly. All programs are not for everyone so find the best program that fills your particular needs. It should be easy with the vast number of companies providing services in this niche. Hope you found this helpful. Good luck!Immobilienmakler Heidelberg Makler Heidelberg
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Source by Stephen D. Roundtree