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Lease Options

If a home isn't selling due to a slow local market, mortgage stress, repairs required or any other reason, then selling via a Lease Option may be a very attractive alternative to the traditional method of sale.

 

Instead of telling a potential buyer to go and get a bank loan, suitable terms are structured that provide strong cash flow for a seller, and an avenue to home ownership for buyers who need time to get bank ready.

 

There are many potential buyers out there who have decent incomes and rental history, but need time and assistance to build sufficient deposit, or meet current strict bank requirements. This is a much bigger pool of buyers than only those who are financially qualified to buy now. They are usually happy to pay a better price for the opportunity of eventual home ownership, when compared to traditional buyers who have a much larger selection of homes to choose from.

Benefits may include;

  • More prospective buyers for a quicker result

  • A better price for your property

  • Extra payments on top of rent to improve your cash flow

  • If a buyer defaults, then you keep the extra payments

  • Long lease with no vacant periods

  • Remove mortgage stress

  • Tenant/buyers who respect the home they intend buying

  • You retain the title until completion of sale

There are many ways to structure a Lease Option (or Rent to Own Agreement) to match a Sellers individual requirements. Every owner's and every property's situation is different. Some situations may only require a 1 year term, while others may need up to 5 years to implement appropriately.

 

To find out more, talk to one of our experienced team today. Call 1300 796 232 for a confidential chat. We can help with homes in most locations and condition.