Preserve Your House with Lease Options

As a homeowner facing the risk of losing your home, it’s crucial to explore viable options to retain ownership and manage mortgage payments more effectively. Losing your home to foreclosure can be a daunting prospect, but with the right strategies, such as Lease Options, you may be able to secure your home’s equity and avoid a loss.
There are two primary Lease Option techniques we will discuss: the Straight Lease Option and the Sandwich Lease Option. These techniques are relevant and applicable in today’s Real Estate Market, offering distinct advantages that can help you navigate through potential financial challenges and avoid foreclosure.
Let’s start with the Straight Lease Option. This method involves entering into a rental agreement with a tenant who has the option to purchase your property at a predetermined price within a specified timeframe, typically ranging from 3 to 5 years. During this period, the tenant, also known as the “optionee,” pays you for the right to buy the property later on.
The monthly payments made by the optionee should cover your mortgage payments, including any outstanding dues or late fees owed to your lender. It’s important to note that the rent charged to the optionee is usually higher than standard market rates, reflecting the additional benefit of having the option to buy the property.
One advantage of the Straight Lease Option is that it allows you to address immediate financial obligations while maintaining the potential for a future sale at a predetermined price. If the property’s value appreciates during the lease period, both you as the optionor and the optionee benefit from the increased equity. However, if the market value remains stagnant or decreases, the optionee can choose not to exercise the option to purchase, allowing you to renegotiate or find another potential buyer.

Overall, the Straight Lease Option provides a structured approach to managing your property, generating income through rent, and potentially securing a profitable sale in the future. It’s a strategic method that offers flexibility and financial stability during uncertain times in the real estate market.

Call 866-340-2875 to Get Your Cash Offer Today!

dollar-symbolfacebookgoogle-pluslinkedin rssicon Safelightningssl-lock startwitteryoutube