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Lease with option to purchase. What are the pros and cons of this arrangement?

  • August 29 2012 - Jacksonville
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Answers (4)

I will run the other way. This is much to complicated and toomany yncertainties!
  • August 29 2012
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I can't see a seller agreeing to a Lease with Option right now, as home prices are so low at this time that even with a 2-3 year Lease with Option the agreed upon price would most likely be considerably  below what market value would be then.

  • August 29 2012
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Another con - at least if you are the leasing - is that you need to put a significant percentage down which you will lose if you choose not to buy.  Additionally - your purchase price is usually negotiated in advance which then means that the price will not necessarily accurately reflect the market value at the time of actual purchase.  
  • August 29 2012
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Profile picture for wetdawgs
Pro - lets a potential purchaser try before s/he buys.
  - May open the market to those who can't currently qualify for a mortgage.

Con -
-   lets a potential purchaser try before s/he buys.
  - May open the market to those who can't currently qualify for a mortgage.   Who knows if they will qualify in two or three years.
  - rarely comes to closing, therefore, owner has to spiff up the house and put it on the market again after several years of pretending to sell.

  • August 29 2012
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