Rent-to-Own Frequently Asked Questions

Question: What is a Lease Option?

Answer: A lease option is essentially a purchase contract combined with a rental agreement.  The buyer leases the property for a specified period of time and then has the option of purchasing the property before the end of the lease agreement.  Sales price, length of rental, closing costs, and maintenance are all negotiated much the same as a conventional real estate transaction.   A lease option, if properly utilized, is both a seller and a buyer’s dream come true because it can eliminate many of the negatives normally attributed to the selling and buying of a home.

Question: How does it work?

Answer: We present a monthly lease amount as well as a pre-determined sales price that is agreed to by all parties.  A lease option / purchase is basically a monthly lease set up over a pre-determined period of time.  At the end of that time, we purchase the home from you for whatever the pre-determined price is. the pre-determined price is.

Question: What are the advantages of selling my home by lease option over listing it with a Realtor?

Answer: We make your monthly payments while a tenant/buyer is qualifying for a loan. All your expenses related to the house are taken care of.

Another advantage is that our objective is to put only high quality tenant/buyers in the house since we make our profit by selling for higher than we buy. Since we guarantee all minor maintenance on the house, it is in our best interest to ensure that our tenant/buyer will take care of the home and eventually secure financing to cash you, the seller, and us out. This means that we put our tenant/buyers through an intensive pre-screening process before they are even permitted to look at the house.