What Is A Lease Purchase Agreement For A Home

kenty9x | October 14, 2021 | 0

But some buyers may prefer it as a method of forced saving for a down payment. Enter a lease option agreement instead of a hire purchase agreement. If you`re a homeowner stuck with a home that won`t sell and you need to move for some reason, or if you`re a real estate investor with multiple properties, a rental purchase could be a viable option to nail a sale and get a good price for your property. If you`ve lost a home, have credit issues, or simply can`t get a down payment in a short period of time, a rental purchase can also work for you as a tenant. In some contracts, all or part of the option money you have to pay can be applied to any purchase price at closing. If you`re like most home buyers, you`ll need a mortgage to finance the purchase of a new home. To qualify, you must have a good credit score and money for a deposit. Without it, the traditional path to homeownership might not be an option…