recent blog posts from Christine May
Posted by Christine May | on March 30, 2009, 6:52 pmIn today’s market where it becomes more and more difficult to obtain loans, many home seekers and home owners resort to alternative options to find a home i.e. fill a vacancy. The pro’s for the buyers are: They rent the home they would like to purchase in the future once their financial situation allows them » Read more
Posted by Christine May | on March 30, 2009, 6:50 pmYou could contact home owners who offer their house FSBO (For Sale By Owner) OR who Rent their house by owner and simply ask the question. The potential pitfall by dealing with the owner directly is they often do not know the legalities involved in the transaction and your interests may not be protected. You » Read more
Posted by Christine May | on March 30, 2009, 6:48 pmPlease be prepared for questions such as: How much option money you have available? What monthly payment you feel comfortable with? Place of Employment? Amount of income? Information you are likely to need to share include: Credit Application (typically lease options allow much lower credit scores than a mortgage loan) Rental Verification, recent Bank Statements, » Read more
Posted by Christine May | on March 30, 2009, 6:33 pmIf a seller is not able to sell the house at top of the market value within the intended time line, the seller’s option is to REDUCE the price OR offer a Lease with Option to Buy – expanding the target audience – and preserving top of the market pricing. Often, they can fill a » Read more
Posted by Christine May | on March 30, 2009, 6:31 pmYou should contact a professional, full time REALTOR that has an extensive marketing plan that they share with you in writing. In addition and very importantly, they also should posess expert knowledge with Lease Options. Interview the agent and have them explain the pro’s and cons of a Lease Option and ask directly how many » Read more