If your home is for sale long enough, you?ll hear the proposition: ?I?ll lease your home with the option to buy.?? We?ve heard it time and again.? It is usually made by someone who wants to get out of the rain and is not really serious about buying or cannot qualify for ANY house.
I would not advise you to lease your home under these circumstances unless there is a serious consideration (or money) for the option, over and above the rent.? The consideration should be a significant amount because you?re removing your home from the market.?? The longer the period of time, the larger the consideration.? The option may or may not apply against the sale price.? These and many other items should all be specified in the option contract which should be drafted with even more care than the usual purchase agreement.
Most important of all ? remember that you are now reducing your prospects down to one ? one who has already told you he would prefer to rent than buy.
Feel free to contact me at 800-250-8766 ext 20 or Jay@AnthonyRealEstate.net for your real estate questions or needs. ?There is no cost, obligation or pressure. Let my 33+ years of Escondido area real estate experience benefit you!
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