You want to sell your own home either on your own (FSBO) or with a Realtor, but it's not moving as fast as you would like. You've thought about renting it to cover your mortgage payment, but nobody wants a short-term rental with no idea when they have to move out.
OR
You're a frustrated real estate investor/landlord who has dealt with bad renters, late payments or calls late at night about a stopped toilet? By now, you may realize that being a landlord is not as fun (or financially rewarding) as you may have anticipated. You ultimately may think your only options are to not renew your tenants lease and/or eventually evict them.
Now your house is vacant. You make a few mortgage payments. A month later, your homeowner's insurance company cancels your homeowners' policy because the property has been vacant for more than 30 days (it's true, they can do it so read your policy!). You don't want to severely discount the price, yet you need to do something NOW!
If either scenario applies to you, it may make sense to delay the sale of your real estate home or to stop renting to bad tenants. It may be possible to generate positive cash flow and/or lock in a higher selling price with a FSBO (for sale by owner) lease/purchase agreement.
As a first step, complete our RTO listing form and showcase your property on this website. Once your property is added to our site, it will then become visible to thousands of potential buyer/tenants. When potential buyers inquire about your property, you are automatically notified. All serious prospective buyer/tenants are pre-screened by our office for income, employment and criminal background history information "PRIOR" to asking you to show your property.
You literally have nothing to lose, these are free real estate listings.
What does the FSBO lease/purchase of real estate homes mean?
At some time in your life, you have rented a house or apartment, so you are familiar with a lease agreement. If you have ever bought or sold real estate homes, you are familiar with a purchase offer. The lease/purchase agreement is a hybrid of the two - a lease agreement combined with a purchase offer (sometimes called "rent to own" or an "option," or that is, the right to buy at an agreed upon price).
Here's an example of how lease/purchase works. Let's say you have a house worth $300,000. The "going rent" in your market for that house may be about $3,000 per month. A lease/purchase agreement would read essentially as follows:
Lease Term: One Year
Monthly Rent: $3,000
Purchase Price: $300,000
Rent Credit: $1,500/month
Usually, part of the monthly rent will be credited towards the price of the house. In the above example, 50% or $1,500 per month is being credited. So if the tenant decides to buy after one year (lawyers call this "exercising their option to buy"), they would pay $300,000 - $18,000 = $282,000. If the tenant/buyer does not purchase the property, the owner would keep all of the monthly rent. The best part is, the $1,500/month is considered "option consideration" by the IRS and does not have to be reported as income until the house is sold.
WHAT'S YOUR ANGLE?
You may be thinking to yourself, "I appreciate the lease to own homes real estate lesson, but what's your angle?" First, we are not real estate agents, but a group of private individuals, like yourself. We deal wholesale direct with the public. We are in the business of privately leasing, buying and marketing houses. On a national basis, we provide a free forum for buyers and sellers.
It's your choice, but the first step you should take is to tell people your home is available. List it on this website. This service is totally free. If you decide to sell your property to one of our pre-screened buyer/tenant prospects, we provided you with all of the necessary documents to complete the lease/purchase transaction and we charge you (the seller) a nominal fee which is usually equal to 1 month's RTO lease payment. That's it!
As you can see, there are many benefits a lease to own deal can provide you, including:
·Fast Solution to the "Nice House in a Slow Market" scenario
·No need to severely discount the purchase price
·No Realtor commissions
·Tax deduction (since the property can be treated as "rental" for tax purposes)
WHY DON'T I JUST LIST IT WITH A REAL ESTATE AGENT?
It can't hurt to list with a real estate agent or broker. However, most real estate brokers simply "list" your property. This means they stick it in the multiple listing computer and wait for a bite. The first problem with this method is that there are thousands of other homes in the computer that read just like yours. If you want to move your house FAST, you have to offer something different. The lease to own approach is that special something that can make your house attractive.
The second problem is that most Realtors will not get involved with a lease to own deal, because they simply want a higher fee (as much as 6% of the sale price, compared to 1 month's rental payment or less than 2%).
As a first step, list your property on this website. Simply, complete our RTO listing form. Your rent to own home will then become visible to thousands of potential buyer/tenants. When someone inquires about your property, we will notify you and provide their employment, income and contact information to you. You would then contact them directly (or have us do so) to schedule a "showing" of your property. It would then be up to you to "choose" who you would like to sell your property to.
So you see that you have nothing to lose and everything to gain by working with us since these are free real estate listings.
For more information, feel free to visit the "Additional Resources" section of our website.
