Lease Purchase Solutions, Ltd.



Home   Sellers   Buyers  Investors   Gurus  Calculators  Contact Us  Site Map  


How does the Lease/Purchase work?

  Finding the Right Tenant-Buyer

  • First, we screen potential Tenant-Buyers to identify a qualified and reliable individual—someone who will take care of your property as if it were his or her own.
    • A “Rent to Buy” tenant has a different mentality than regular tenants.  He takes care of your property because he considers himself the Future Owner and he thinks of the landlord more as a lender than a regular landlord and he knows he will have to re-finance the property in a year or two and that the lender will loan him more money if the property is in good shape.   
    • Consequently, the Tenant-Buyer will provide a written agreement to accept responsibility for all minor repairs and maintenance.  This means he won’t call you when a faucet leaks or a sink overflows!  He’ll get it done himself!
  • Second, our Tenant-Buyer may not qualify for a loan right now but he can afford to cover most of your mortgage payment.
  • To ensure this, one of our local lenders will analyze the Tenant-Buyer’s financial situation to make sure the Tenant-Buyer has sufficient cash flow to satisfy all his obligations; plus, that it is likely Tenant-Buyer will qualify for his loan when the time comes.    Many lenders now consider lease options as a sale which enables the tenant buyer to get a refinance loan rather than a purchase loan when they exercise their option to buy.
  • Once we have a top candidate, we’re ready to execute documents.  

   

 

Gar C. May, Real Estate Broke
1357 Hornblend Street
San Diego, Ca 92109
cadre # 479003
gmay@san.rr.com
858-272-5510