Peer 2 Peer Real Estate's Podcast

Hello EveryoneOn today's show I talk about what is a lease purchase,? most sellers will ask that question if you present that to them. And we give them the pro's and con's of why this either is good or bad for the seller , we give them a package so they can make up their minds. Some pro's for sellerDeed is still in their nameGet asking priceTax breaksNo maintenance issuesMore buyers at the readyNo vacancies, payment is made regardless of whether house is occupied or notSome pitfalls of lease purchaseT/B changes won't buy, will need to re-negotiate terms with sellerHouse is damaged, In that case we would need to make repairs, (very rare that happens)Value of house increases- but contract is signed, so seller can't realize gain. Example Of A Lease Purchase Deal 123 Main St Anywhere USA, 00000Property for sale @ $200,000- Seller owes $100,000, wants full asking price.You agree on price, here are the terms. Purchase Price $200,000Monthly lease payment to seller $1500.00 per month= includes taxes and insuranceTerm