Lease Options

What Is A Lease Option, And Will I Get 100% Market Value?

Lease options are relatively new in the UK and not a lot of quick house sale companies can offer them as an alternative to a regular cash purchase. A lease option is a legal document created between you (the seller) and an investor (the buyer) that states the investor has the right to buy a property at an agreed price between now and some point in the future.
 
You may be wondering why you would agree to this, rather than selling for cash or selling on the open market – and you would be right in doing so as a lease option doesn’t suit everyone. However, if you are in negative equity, have a property that is a burden, have a house that fails to rent or needs repairing – you could agree for an investor to buy it now and take the issue away for good.
 
The benefit of a lease option is no matter how long the option is for, the investor must keep up payments on the mortgage on your behalf until they have fully purchased the property. You still remain the legal owner of the property, however the investor becomes completely responsible for the maintenance and the mortgage for the length of the lease.
 
As stated a lease option isn’t a good fit for every seller, so you really need to research it before considering using a company to carry out the proceedure. Below are some good starting points to assure you know all of the in’s and out’s before you go any further:
 
 
 

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