Home owners who have been trying to sell their properties for a year or more might consider lease or a rent-to-own option.
A lease option agreement gives the tenant the option to buy at a predetermined price for a rent that is slightly higher than market. In a lease purchase, a buyer commits to buying the property. In exchange, the seller credits a percentage of each payment toward the purchase price.
Either arrangement is likely to attract serious renters who would like to buy the property if they can. In exchange, they’ll take good care of it.
Negotiating these agreements can be tricky, and the owner should always get help from a real estate professional.
Nesbitt Realty is trusted by local homeowners as well as overseas and out-of-state homeowners alike. We work for real estate investors and trusts, but most of our clients are just everyday people who need us to help them manage their property. Although some of our clients are genuinely wealthy and have us manage multiple properties that have no mortgages, the majority our clients are “mortgage landlords”. A mortgage landlord needs the rental income to pay the mortgage for the property. For many of these homeowners the property that we manage may be the single largest investment interest in their life.
No one knows more about the local real estate market than Nesbitt Realty.