Lease Options - Lease Purchase Sales

Lease option sales were popular financing instruments in the late 1970s and early 1980s. They were primarily used as a way to circumvent alienation clauses in mortgages. Proponents claimed the sale was not really a sale because it was a lease; however, courts argued otherwise.

Today, options to purchase, lease options and lease purchase agreements are three different financing documents. The variances are state specific and not all states have identical laws. Before entering into an agreement with a seller, buyers should obtain the advice of a real estate lawyer. The information below is an overview and is not meant to be construed as legal advice.

Basics of an Option

    * Buyer pays the seller option money for the right to later purchase the property. This option money may be substantial or as little as $1.
* Buyer and seller may agree to a purchase price now or the buyer may agree to pay market value at the time the option is exercised. It is negotiable. However, most buyers want to lock in the future purchase price upon inception of the option.
* The term of the option agreement is negotiable, but the common length is generally from one year to three years.
 * Option money is rarely refundable.
* Nobody else can buy the property during the option period.
* The buyer can sell the option to somebody else.
* If the buyer does not exercise the option and purchase the property at the end of the option, the option expires.
* The buyer is not obligated to buy the property.
Basics of a Lease Purchase

    * Buyer pays the seller option money for the right to later purchase the property. This option money may be substantial.
* Buyer and seller agree on a purchase price, often at or a bit higher than market value.
* During the term of the option, the buyer agrees to lease the property from the seller for a predetermined rental amount.

 * The term of the lease purchase agreement is negotiable, but the common length is generally from one year to three years, at which time the buyer applies for bank financing and pays the seller in full.
 * The option money generally does not apply toward the down payment.
 * A portion of the monthly lease payment typically applies toward the purchase price.
 * Option money is nonrefundable.
 * Nobody else can buy the property unless the buyer defaults.
 * The buyer typically cannot assign the lease purchase agreement without seller approval.
 * Buyers are often responsible for maintaining the property and paying all expenses associated with its upkeep, including taxes and insurance.
 * The buyer is obligated to buy the property.
For more info- http://homebuying.about.com/od/financingadvice/qt/091007_leaseopt.htm

Essential Information About Home Rental Agencies

Home rentals are commonly provided by the property owners who own properties and want to rent out their properties in order to earn rent. There are many home letting agencies that provide you with the respective services at nominal fees. The services provided by them definitely consist of the elements like organization, coordination and management of the rental needs of people. Some of the services provided by them can be listed as accounting, legal paperwork, advertising and finding the right location. The property owners are supposed to pay certain amount of fees to these agencies for the services they provide. You can check out for some extra information online. There are many online agencies that provide rental services at discounted rates. Letting agencies Glasgow provide the most efficient services and assistance.

There are many types of home rental services and you can choose the one that fits under your requirements and preference. Some of the agencies specialize in certain kinds of services like finding the right kind of homes or property for long term and short term tenants, business or seasonal needs. Other types of services include managing properties for home owners, managing vacation rental homes and advertising and coordinating rentals. The agencies that are into property management also take care about things like home cleaning, repairs and maintenance of the property and landscaping and garden maintenance. Some of the agencies are not into property management. They are involved in activities which are included under the management and coordination of rentals. This is mostly in case of rental agencies that manage vacation property rentals.

There are certain factors that need to be considered before hiring any home letting agencies. The major consideration is the reliability of the services and the types of properties that are managed by them. It is better if you hire well reputed and reliable companies and agencies so that you do not have to face any problems at a later stage and get the right kind of services for the price you are paying. Make sure that the agency has prior experience in managing the type of houses you want to rent. Some of the companies handle only luxury homes while others handle cabins, beach houses and homes in middle class neighborhoods.

The main function of the letting agencies is to work in close association with the property owners and tenants so that they can provide them with the right kind of services at the right time. They need to provide the tenants with the right kind of property and rental services. They charge fees for the services provided by them. Hiring professional home rental services is beneficial for both the home owners and tenants as they do not have to worry about anything related to rental services and procedures.
For more info- http://ezinearticles.com/?Essential-Information-About-Home-Rental-Agencies&id=5356629

Negotiating Homes For Lease To Potential Tenants

There are so many reasons imaginable as to why people move into homes for lease and leave their current homes behind. It could involve personal reasons or the most common once which is work related. For the former, there are just some families who feel that they want a change of scenery, somewhere they can grow more whether financially or emotionally. You see, living a fast paced lifestyle can become draining at some point, thus the need to slow down and find another business venture that would work well somewhere where the pacing is more manageable. Meanwhile, despite the relaxing nature of the rural, it can become containing, thus the need to venture out into a bigger environment. Moving on, for the latter in terms of career, it is common that companies ask of their people to be assigned to different posts whether it is a permanent or temporary undertaking.

Understandably, a human decision is governed by so many distinct factors, that they sometimes do not know how they came up with it. To not let the confusion go astray, it is best that there is a person who can listen to their needs and guide them through the ways in which they can achieve those.

Now if you are familiar with real estate, then you know that there are agents who work on the field to try to buy and sell homes for lease by owner for the usage of others. Potential tenants may want to tap into the services of such agent, and your real estate company can make sure that the pool of people that you send out are well qualified and would work for the best interest of the company and the clients as well. Of course, you cannot force a decision to clients if they are not 100% willing to push through with their choice. That is the reason why careful deliberation should be made, so that time and effort will not be played around with. If they feel that their decision is irreversible, then you can proceed to laying down the ground rules and the options you have for them.

Once it is ensured that their decision for moving out is final, as the agent, you have to ask them next about their budget, or the amount with which they can work around with in case it is higher than what they expected. Some families may have enough funds in their savings to spend a little more if they know that the house is worth it, thus negotiations should be practiced first so that when they meet the landlord and see the condition of the place, they will know how far they can go in terms of bargaining for the price.

Meanwhile, if you want to advise them first on where to look aside from driving over to subdivisions one by one, you can recommend your website which displays the house listings they would need for their homes for lease purchase. This way, they could easily access information and contact details without having to leave home or traveling across states and continents.

 This article is taken from- http://www.ezinearticledirectoryblog.com/negotiating-homes-for-lease-to-potential-tenants/

Benefits Of Seeking Houses For Lease In Rental Classifieds

Have you ever tried looking for a house for your family or for yourself? Was it an easy task for you or did you have obstacles along the way? Was it easy to negotiate with the house owner? Looking for a residence is not easy at all, particularly when it is your very first time to search for one. You are still uncertain on the class of apartment that you need. You do not know if you want a big or small one. You are not even sure how much you should allocate for house leasing. The ideal way for you to locate a home without going through any hassle is to search for houses for lease in classifieds.

When we talk of ads, we know that it would depend on what medium it would come from. You can see leasing ads in the newspaper, and you can also locate them in the internet. So what is more convenient and accessible for you? I am rather certain that you have a PC or a notebook whether in your office or in your temporary residence. Thus, the internet should be the finest medium for you to look into several houses for rent.

A different advantage of searching for them online is that you can stumble on houses for rent to own. Under certain terms and conditions, you will be able to rent a house and decide to purchase it in the future. The good news is that it does not oblige you to loan from the bank. This is your opportunity to be a homeowner and not be a renter forever.

 Article is taken from- http://ezinesarticles.colombot.com/?p=62