April 1, 2016 | No Comments YetTags: Buying a House Without a Realtor, For Sale By Owner Tips, how much does it cost to sell a house, How to do a Lease Purchase, how to sell a house by owner, How To Sell Your House Fast, How to sell your house fast in Middlesex & Mercer County, How To Sell Your House if Over-Leveraged, how to sell your house rent to own, Mercer County, Middlesex County, NJ, rent to own, sell my house now, Why Sell My House Rent To Own?
How to sell your house fast in Middlesex & Mercer County, NJ
WHAT IS A LEASE OPTION?
A lease option is essentially a purchase contract with pre-negotiated terms combined with a rental agreement. The buyer leases the property for a specified period of time and then has the option of purchasing the property before the end of the lease agreement. Sales price, length of rental, closing costs, and maintenance are all negotiated much the same as a conventional real estate transaction. A lease option, if properly utilized, is both a seller and a buyer’s dream come true because it can eliminate many of the negatives normally attributed to the selling and buying of a home.
Typically a tenant-buyer will pay an option consideration of between 2% – 4% of the price of the home. The money the tenant-buyer puts down will be credited to them when they purchase the home. The deed will stay in your name.
WHAT IS OWNER FINANCING?
Selling your home with owner financing is very similar to a lease option. The only differences are that the buyer will usually put down more money (7% – 10%). The mortgage will stay in your name, but the deed to the house will be out in escrow. You will create a new note with them that typically charges 7% – 10% interest and has a 3-5 year balloon payment.
ADVANTAGES TO SELLING
YOUR HOME ON TERMS
1) It works. We sell almost all our own homes on terms.
2) We make our profit from the tenant-buyer. It doesn’t cost you anything.
3) We already have Tenant-Buyers looking for homes in your neighborhood! We have more Tenant-Buyers than we do houses right now.
4) You can still advertise the home on your own. If you sell it or lease before we do, you won’t owe us anything.
5) There is always a strong demand for homes that are selling on lease options or owner financing.
6) You can sell your home for top dollar and you won’t have to pay any Realtor commissions.
7) You can make the tenant-buyers responsible for maintenance and repairs. You won’t get any calls for fixing leaking toilets or sinks.
8) Tenant-buyers usually make great tenants. Since they put so much down on the home, they tend to take better care of it. They tend to see themselves as future home owners of the property.
9) Tenant-buyers will pay top rent, usually a 5% – 10% premium.
10) If the tenant-buyer does not purchase the home, the option fee is non-refundable.
11) Tenant-buyers will pay all the closing costs when they purchase the home.
12) Our mortgage broker prescreens all our Tenant-Buyers to make sure they can get a mortgage in 1-2 years with credit repair.
13) You still keep all your tax deductions and then some – mortgage interest, property taxes, and depreciation. (See a tax accountant)
If you are ready or want more information Click here: http://fchousebuyers.com/ or give us a call now at (786) 505 8884
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