How do lease options work and what are the benefits – Everything Real Estate
Lease options are a great option for home sellers, especially if a home seller is faced with a slow housing market. For those who are wondering, How do lease options work and what are the benefits, it is really quiet simple. A unique arrangement, lease options come about when a home seller and a potential homebuyer agree to the principle that the home can be sold to the homebuyer after they have rented it for a specific time period. The lease option is a particularly good option for those individuals who want to purchase a home but do not have the sum necessary to make a down payment. Considering how expensive purchasing a home is, lease options are a valuable way to sell your home that is mutually beneficial to both you and the homebuyer. How they work is that the homebuyer pays rent until they exercise the lease option. A portion of the rent goes to the purchase of the home if the option is exercised.
