Real Estate Lease Option Tips at Golden Sky Management

 

Estate Leasing Company Indianapolis

There are two sides to every coin when it comes to lease options. Here are some real estate leasing option tips that balance the coin to land on its edge, benefiting both the buyer and the seller.


A lease option is a lease with an option for the Indianapolis Tenant Screening Services to buy the property, normally within a twelve-to-twenty-four-month time period. Non-qualified and first-time buyers view the lease option as an ideal finance technique, granting them time to get their financing house in order. Take a look at the following real estate lease option tips for the buyer.

 

Benefits and real estate lease option tips for the buyer (tenant):

Pay little cash up front (certainly much smaller than a typical down payment)

Monthly rent credit generates the down payment - a forced savings "account"

Live in the house you intend to buy

However, this convenience isn't without costs. The tenant usually pays an option fee plus rent credits (10% to 100% of the rental fee), in addition to the monthly rent. The seller keeps these monies if the tenant does not exercise the option.

 

With that said, here are benefits and real estate lease option tips for the seller (lessor):

Increases monthly cash flow

Solidifies the price well in advance of the selling date - good in a slow market

Prompts tenants to take care of the property they intend to buy

Receives upfront option money and retain it, should the tenant not exercise the option

It is also a great marketing tool for sellers when trying to find lease option buyers. For example, you contact a corporate relocation office about your property and they recommend an employee new to the area, to lease your property. After six months, she stays with the new job, wants to purchase your property and the conventional lease changes to a lease option. The buyer secures the option to purchase the house and you have a quality tenant (buyer) living in your property.


Lease option contracts can sometimes be complex, and property leasing agent Muncie suggest contract language focusing on the terms of the contract, rather than simply the price. To ensure an amiable closing put everything in writing. To find lease option buyers is indeed an investment of time and one good buyer in the hand is worth two in the bush.

 

Perhaps it's obvious, but real estate lease option tips encourage sellers to thoroughly investigate the market to predict the value of the property a year down the road. So, while you are trying to find lease option buyers, invest time to suitably forecast the selling price. Also, estate leasing company Indianapolis recommend investigating your state laws to ensure compliance with regulations on the lease option mechanism.


For the seller, the secret is to find lease option buyers who value the merit of this finance vehicle. How do you find lease option buyers? Place an ad in the newspaper or contact a corporate relocation residential leasing agent to help you find lease option buyers.


Another option is to get ahold of real estate investors like us here at Golden Sky Management [www.goldenskymanagement.com] and have us find you a buyer for your property. We make it very simple for you because of our experience. We take a small assignment fee for our efforts, and it takes the marketing work away from you.


The internet is also a great way to find lease option buyers. The same internet sites that assist sellers, assist buyers, bridging the gap between two parties searching for each other. These sites, however, often have steep fees they charge you for potential buyers for your home.


You could also join a forum that shares practical real estate lease option tips. Information like these real estate lease option tips and how to find Fishers Property Leasing Company, buyers are available if you look hard enough.

Location: 9783 E 116th St #5296, Fishers, IN 46037, USA

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