Charlotte Lease to Own

Lease Purchase Agreements - What You NEED to Know

Lease to own, rent to own, lease purchase or lease with the option to buy are phrases real estate consumers and brokers hear these days. Whatever the label, in these real estate transactions the property owner agrees to lease the property to the tenant, and in addition gives the tenant the absolute right to buy the property under specified terms for a specific period of time. It is a lease agreement and an option to buy agreement all in one. The option to purchase is just that - optional. The tenant is not obligated to buy the property.

ADVATAGES FOR SELLERS:

• Home has been on the market a long time and has not sold
• Provides options for buyers who cannot qualify for loans right now
• Property becomes more attractive to out of town buyers
• Monthly rent can pay the mortgage

ADVANTAGES FOR BUYERS:

• Opportunity to improve low credit scores
• Portion of monthly rent can be applied to purchase price
• Helps give time to save up for down payment
• Gives buyers a chance to see if they like the home and area

BE CAREFUL!:

Professional advise is crucial in these types of deals. Contact our team, we are expert Real Estate Brokers that are a great resource in negotiating these deals. There have been recent changes to NC State Law regulating lease purchase transactions.

Call 704-400-7654 or Contact Us for more information on lease to own, rent to own, lease purchase or lease with the option to buy Properties in the Charlotte Area.