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You can view over 100 lease purchase opportunities and over 2000 rental properties. Contact us to verify that desired properties are still available. Rentals go fast and many times agents do not update their listings as quickly as they do for a sale.
A lease purchase is when a seller offers the buyer the property on a rental basis at first but applies all or a portion of the monthly lease payment to the purchase of the property. Most lease purchase contracts have a time limit as to when the purchase is to be executed. (usually within 12-months) A down payment equal to at least 2-3 months rent is usually required if not more.
Keep in mind that if you do not purchase the property, you lose your down payment. Other pitfalls of a lease purchase are if the seller does not continue to pay their mortgage. Sellers have been known to accept your monthly lease payment but never pay their own mortgage. Suddenly, there is a knock on your door telling you that the property is in foreclosure and you have to move. Ask your landlord (the seller) for proof that they paid their mortgage each month. Also ask for their most recent mortgage statement "prior" to signing a lease purchase deal.
Lease purchase opportunities can be rewarding as well but more so in a sellers market.
We are not responsible for the accuracy of the information found in property listings.
Contact us for a real time search to minimize error and omissions.
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