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What is a Lease Option and How do You Use it to Sell Your House in Arlington?

Lease options offer would-be buyers a specified amount of time to qualify for a conventional mortgage before they purchase a property while enjoying all of the perks of homeownership. 

The benefits of the rent-to-own arrangement far outweigh the risks for savvy sellers. So, read on as we explore using a lease option to sell your house in Arlington.

Option Fee and Rent Premiums

The option fee provides the exclusive right to buy the property to the tenants using a lease option to sell your house in Arlington. If your tenants choose not to exercise their option to purchase the home at the end of the agreement, you’ll still have profited from the option fee and rental premium you keep. 

Savings

When using a lease option to sell your house in Arlington, you’ll save all the holding costs for your investment property while the property continues to appreciate and build wealth. And if the tenants leave, you’ll have had everything but your taxes and insurance covered during the lease term while the property increased in appreciation and built wealth.

Buyers

Buyers seeking rent-to-own properties may require time to get their credit ducks in a row and build up a down payment. Or simply wish to test drive the property, intending to remain in their home for decades to come; often, buyers are willing to take the financial risk of the lease option after having experienced bad neighbors or other issues with another property. Whatever the reason, you’ll open your property up to a real estate market sector where properties are in high demand, and you can realize significant returns by using a lease option to sell your house in Arlington.

Management

You should ensure the option and the lease remain as separate contracts. For sellers, there is very little management of the property itself involved when you’re using a lease option to sell your house in Arlington. However, your tenant screening system could make or break the deal. Working with seasoned real estate investors like the professional home buyers at 3StepHomeSale and their property management team means you’ll have the best tenants.

Risk

You should be upfront with your lender about using a lease option to sell your house in Arlington to ensure there are no conflicts with your mortgage’s due–on–sale clause. In addition, acquire a home warranty that covers significant repair work or requires the tenants to pay for one to protect your investment. Typically in these agreements, the tenants are responsible for repairs up to a certain amount. Additionally, as a real estate investor with residential rentals, you must remain on top of the laws governing your properties and any changes in those laws, along with an intricate knowledge of the Arlington market, future city zoning, and economic planning to keep your portfolio as healthy as possible. Finally, it’s advisable to team up with an active local professional investor like the professional home buyers at 3StepHomeSale, keeping you ahead of the game so you can adjust your investment strategies and keep your portfolio healthy.

Ready to sell your house in Arlington? 3StepHomeSale is ready to buy, giving you your asking price via rent-to-own. Why wait? Our contract terms are simple, and we believe in total transparency; if you have questions about the process, we’ll answer in full detail with no obligation. At 3StepHomeSale, we’re your neighbors here in Arlington; we’re proud of the work we do every day to help our neighbors and improve our community. At 3StepHomeSale, our professional investors will make a deal you’ll feel good about long after you’ve left the closing table.

Solution: Sell Your House Faster and Gain Financially with a Lease Option

This passage argues that using a lease option to sell your house in Arlington offers several benefits for sellers. Here’s a breakdown of the solution:

Benefits:

  • Faster Sale: Attract buyers who need time to improve their credit or save for a down payment, potentially leading to a quicker sale.
  • Guaranteed Rent: Receive rent payments throughout the lease term, even if the tenant doesn’t purchase the property.
  • Profitable Option Fee: Keep the upfront fee paid by the tenant for the exclusive right to buy.
  • Reduced Holding Costs: Avoid property maintenance expenses while the property appreciates in value.
  • Target a Wider Buyer Pool: Open your property to a market segment actively seeking rent-to-own options.

Risk Mitigation:

  • Separate Contracts: Ensure the option fee agreement and lease remain separate documents.
  • Thorough Tenant Screening: Mitigate management concerns by carefully vetting potential tenants.
  • Lender Approval: Confirm your mortgage allows lease options to avoid conflicts.
  • Home Warranty: Consider a warranty to protect your investment from major repairs.
  • Legal and Market Awareness: Stay informed about relevant laws and market trends.
  • Partner with Professionals: Consider working with experienced real estate investors who can help manage the process and find suitable tenants.

Call to Action:

Contact 3StepHomeSale to discuss selling your house in Arlington through a lease option. They offer transparent communication and a smooth selling experience.

lease option can be a viable solution for sellers in Arlington who are open to alternative selling methods and want to potentially gain financially while finding a committed buyer.

Call 3StepHomeSale at (855) 918-4010.

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