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Monthly Lease Rates
(1 Year Minimum Required)
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Available Immediately For Long Term Rental
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Lease Payments of $775 / month (Furnished / Unfurnished)
* Furnishings
can be discussed in negotiation.
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Lease will most likely require 1st Month + Last Month +
$1000 Deposit (negotiable)
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Tenant pays all utilities
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Pets Considered
Lease Purchase
Discussion (2 - 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 2 year scenario below, in order to use
real numbers to give an example of what we propose....
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The Lease Purchase Option would be for 2 yrs. At the end of 2
yrs the Buyer would be responsible for obtaining conventional financing to
conclude the sales transaction.
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During the Lease period, the Owner would be responsible for
taxes, homeowner insurance, road fee. Lessee would be responsible for
contracting insurance for their personal belongings
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Tenant pays all utilities
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Monthly lease payments would be $775
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Required $1000 refundable security deposit
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The Non Refundable Purchase Option Price would be $3000. This
amount would be applied to the Sale at the time of purchase.
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The Lessee would receive a 50% Rent Credit towards the down
payment on all lease payments leading up to the actual purchase. (during the 2
yr option).
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EXAMPLE SCENARIO: The Security Deposit ($1000) + The Initial
Purchase Option ($3000) + 50% of Rent Payments for 2 yrs ($775 x 24 x 50% =
$9300) This is a total of $13,300 to be applied to the purchase price of
$140,000.
Again, the above are parameters are simply guidelines, and
are based on a relatively firm purchase price to what the home is currently
being sold for: $140,000 (which has already been reduced substantially). 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 (50%) 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...
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