In the current market, leasing your home with an option to buy may mean the difference between having someone move into it quickly or not move into it at all. It is the ideal solution when there are more homes available than there are cash buyers to buy them. A few moments of thought make it very easy to see why. When the market fails to produce a qualified cash buyer (meaning one who either has cash to spend  or can get it from a lender) within a reasonable amount of time, you have several options:

1. You can blame it on the realtor, fire him/her and hire another... while it is possible that this will help your home sell, it will be worth the time to take a realistic look at market conditions and go from there.

2. You can reduce price... but you may owe more than the home is worth. Do you have the funds to pay the difference?

3. You can take the home off the market... and put off your moving plans or allow it to sit empty... Is this a realistic option for you? Are you willing to throw your money away on mortage(s), taxes, and insurance while the home sits empty?

4. You can rent the home and wait for the market to recover... but you probably don't want to be a landlord.

5. You can expand the pool of available buyers by offering the home on a lease with an option to buy. This will offer you the opportunity to sell at a great price and to assign the maintenance and care of the home to the new tenant/buyer who is ready, willing, and able to take on this responsibility. Ideally, these are buyers who have been schooled in the home-buying process and are not currently ready to secure bank-financing, but will be in the next one to three years.

While a lease with an option is a great way to sell your home to a new buyer, we do not recommend that you try to do it yourself if you don't have experience. We are professionals with experience at putting together lease with option transactions. We can handle all the details including finding qualified tenant/buyers, screening them, and educating them on the home buying process. Contact us today and let's talk about how you can expose your home to this excellent source of buyers!

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