Property ID# 0151
 

LONG TERM RENT & LEASE PURCHASE DETAILS -

Monthly Lease Rates (1 Year Minimum Required)

• Available Immediately For Long Term Rental

• Lease Payments of $1500 / month (Unfurnished)

• Lease will most likely require 1st Month + Last Month + Equal Security Deposit (negotiable)

• Tenant pays all utilities

• Small / Midsized Dog(s) Considered

• Owner will assign tenant "Community Amenities Privileges" (Tenant would still be responsible for all associated Amenity fees)

Lease Purchase Discussion  (3 Year Probable Option)

Obviously the Owners prefer a straight sale.  But due to the financing problems in the market, they are open to discussing a Lease Purchase option with Qualified Parties.  It should be pointed out strongly that the Goal of a Lease Purchase is to establish an actual PURCHASE Mechanism, as opposed to simply setting up a Rental Situation.  Below are the basic parameters for discussions to begin, keeping in mind that everyone's situation my be slightly different, and that the owner is open to negotiation on the exact details. We're going to give a 3 year scenario below, in order to use real numbers to give an example of what we propose....

• The Lease Purchase Option Period would be for 3 years.  At the end of the 3 years, the Buyer would be responsible for coming up with their own conventional financing to conclude the Sales Transaction.

• During the Lease period, the Owner would be responsible for taxes, homeowner insurance, Bent Tree Homeowner fees, etc.  Lessee would be responsible for contracting their own Rentors Insurance for their personal belongings and liabilities.

• Tenant pays all utilities + should maintain yard

• Monthly Lease Payments would be set at $1600

• There would be an equal $1600 Refundable Security Deposit required.

• The Non Refundable Purchase Option Price would be $4000.  This amount would be applied to the Sale at the time the Purchase Option is exercised.  Owner can also accept credit cards for the Purchase Option & Security Deposit.

• The Lessee would receive a "60% Rent Credit" towards the Down Payment
  - on all Lease Payments made leading up to the actual Purchase during the 3 Year option period.

• At the time of a Successful Purchase Transaction, the Buyer would have earned towards down payment the following amounts:  The Security Deposit ($1600 in this scenario) + the Initial Purchase Option Amount ($4000 in this scenario) + 60% of all rent payments already made.  ($34,560 in this scenario assuming all rent was paid during the 24 month option period).  That is a total of $40,160 of earned money that can be applied to the purchase. (again, assuming this exact scenario - these are example calculations).

Again, the above parameters are simply guidelines, and are based on a relatively firm purchase price to what the home is currently being sold for: $359,900 (which has already been substantially reduced).   But everyone's situation is different, and the owner is open to customization of the details.

There are great benefits to both parties in this situation. 

The Seller/Landlord is getting a Tenant that is working towards purchasing the property, and thereby is more apt to take good care of the property. 

The Buyer/Tenant is building towards a substantial down payment with an enormous percentage (60%) being applied towards purchase price equity, achieves the goal of immediate relocation, but doesn't lock themselves into immediate legal obligation of Ownership, Taxes, Homeowner Fees, etc...

IF YOU ARE INTERESTED IN A LEASE PURCHASE, CONTACT OWNER DIRECTLY, PRIOR TO SCHEDULING VISIT TO HOME.

Contact Owner: Pat Hanson
(Hanson General Contractors, Inc.)
 706-531-1339 ofc
 706-429-0161 fax
 404-569-1667 cell
 by email: hgcinc@live.com