Should I use a lease option to sell my home?


Maybe you are a seller that has found yourself faced with the reality that you can’t sell your house or condo for a price today that will yield enough to pay off your loan, and you are not a candidate for, or don’t want to do, a short-sale?  Or, maybe you are a seller with a house or condo that, for one reason or another, there is very limited demand for and, in fact, it seems that perhaps no one wants to buy what you have to sell?   If so, you may want to consider using a lease option or a lease purchase to sell your home?  After-all, there is a large demand for lease-options and lease-purchases by buyers but, there are risks you should be aware of and a lease option or lease purchase is not a sure thing.

Before considering selling your home using a lease option or selling your home on a lease purchase you should consult your attorney for advice (remember, I’m not an attorney and this article is not legal advice) as well as your CPA or tax professional (nope, I’m not a CPA either) however, from a 30+ year active broker, and an investor that has done many lease-options, below is a basic explanation of a lease option and a lease purchase as well as some pros and cons of selling your home utilizing a lease option or lease purchase as I see it: Continue reading “Should I use a lease option to sell my home?