Who Would Benefit from Lease to Own?

“Lease to Own” is a very lucrative option for those who really want to own their dream home but have limited credit or less funds for making the down payment for the purchase. Lease to own is an option that helps the buyers realize their dreams of owning a house even when they can’t even afford to buy one. Owning a house requires you to qualify numerous conditions and meet so many requirements if you are thinking of buying a house through conventional method of seeking finance through bank. It requires you to arrange at least 10% down payment, clean credit, lots of paper work etc..

But the option of lease to own helps you to start living in you dream house from today.

How long would you spend a huge chunk of your income behind paying rent and getting nothing in return? Is it not better if you can contribute some of the rent amount towards buying your own home? Rather than wasting the money in paying rent, lease to own adjustment helps you to add some of the money that you pay as rent to your capital in terms of house ownership. The feeling of owning a house can’t be compared with living in a rented apartment or house. Lease to own, also known as rent to own is a great tool for those who are not capable of realizing their dream of living in their own home in near future. Seeking mortgage from bank requires you to have a clean credit.  Banks have very strict policies for lending and it restricts many individuals from qualifying for a mortgage.   If you don’t have a clean credit record, it will take you years to wipe off your past records and you would have to wait till that time even if you have enough funds to pay your down payment.

Lease to won is a win-win situation for both buyer and seller. Both the buyer and seller will benefit from this arrangement. During this phase of economic crisis, it has become equally difficult to sell the house for right price. Rent to own arrangement basically facilitates the trade. It helps the buyer to realize his dream of owning a house and at the same time helps seller to sell his house.

If the buyer has some minimum credit and minimal funds to make the down payment, the trade can go through and while some of the rent amount that the buyer is paying to build up his capital towards owning the house, he can work simultaneously work towards improving his credit. Both the buyer and the seller are benefited through this creative solution of lease to own.  Another win for the buyer is to test driver the neighborhood before they exercise their option to buy. 

To know more you can visit on bellow link:
Sell house and Real Estate Agent for more information visit: www.realtyexpressinc.ca