The Timing Must Be Right To Buy A House
Here's a story about a family I met years ago who wanted to buy my house but they couldn't get financing for it
. Some other buyers were interested, too, but this family sticks in my mind because they were so totally excited about the house. Since they loved it so much I honestly wanted them to get it because it's a good feeling when buyers truly appreciate all the work we've done to a house.I meet with the people who wanted to buy my house so badly, we got together on a price and eventually I wrote up a Lease With Option To Buy, which is a useful agreement in this situation. The people were happy because they got to move into the house and I was happy to have tenants who love the house and plan to buy it. The agreement involves a fixed selling price that is good for a year, and in the meantime they pay rent.
The other people who wanted to buy my house had decided the timing wasn't right for them as far as getting a mortgage was concerned, due to their temporary financial issues. I'm going to elaborate on the subject of a Lease With Option To Buy so that you will remember it as a possible solution when you are buying or selling a house some day. A Lease With Option To Buy means that tenants paying rent have the right to become buyers at a certain price within a certain period of time. It's not unlimited, but it's a good temporary solution in some situations as I've shown, meaning when people want to buy my house and they are not prepared to get a mortgage immediately.
When I write up a Lease With Option To Buy for the selling price I also calculate a monthly lease payment of approximately 1% of the selling price. That means a house selling for $135,000 would have a monthly lease payment of $1350 for a period of one year, and if the tenants do not exercise their option to buy my house, the lease payment may increase if I choose to continue to lease it rather than find another buyer.
This agreement is usually drawn up for a period of one and not more than two years, although that is negotiable. So, any time within the year or two, whatever the agreement specifies, the buyers can close the sale and pay for the house, but after the specified time period has elapses we have to re-negotiate or the tenants have to move in order for me to sell the house. You're probably wondering about the family I described in the first paragraph Well, they got their financing and were able to buy my house after renting for ten months. It was a good day for all of us.
by: Leo Kingston
#
2
I recently tried cbd thc oil for the pre-eminent time and was pleasantly surprised next to the results. Initially skeptical, I start that it significantly helped with my appetite and sleep issues without any unconcealed side effects. The grease was easy to speak, with clear dosage instructions. It had a mild, lusty grain that was not unpleasant. Within a week, I noticed a signal improvement in my total well-being, instinct more relaxed and rested. I appreciate the natural approximate to wellness CBD offers and procedure to pursue using it.
2024-2-20 15:19
reply
The Way To Start A House Staging Business
The Basics of a Property Insurance Policy Benefits Of House Painting In Livermore Why Buy Houses In Portugal? High Value Property Insurance Is A Good Option To Consider Property Insurance Benefits For Landlords House Insurance Quotes - Getting The Best Ones Acquire Free Kids Playhouse Plans Now Commercial Liability and Property Insurance Explained America Is The First One In Global Property Market And In Vip Houses Protect Your Property With Landlord's Insurance Property Damage From Fire Is Covered By Renters Insurance. Montreal Real Estate Market - Secrets Without Stress For Selling Your House