is a lease to buy contract worth signing
DESCRIPTION
We are real estate agents specializing in High Rise Condos. We help literally hundreds of high rise & loft condominium buyers, sellers, renters and landlords. You can reach us at (480) 510-8755 or visit our website at www.weknowurban.com.\n - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/1.jpg)
![Page 2: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/2.jpg)
Is a Lease-to-Buy Contract Worth Signing?
![Page 3: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/3.jpg)
A lease-to-buy contract is an option that isn't new, but is becoming more popular when you're renting a high-rise condo or loft.
![Page 4: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/4.jpg)
Leasing a property before you buy can have advantages for you as a potential buyer.
![Page 5: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/5.jpg)
One of the biggest advantages to the buyer and the seller is the flexibility of the contract.
It's important for all parties to read, understand, and sign the contract.
![Page 6: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/6.jpg)
HOW A LEASE-TO-BUY CONTRACT WORKS
![Page 7: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/7.jpg)
An agreement between a tenant and owner that includes an option to buy allows the tenant to purchase the property while the lease is valid.
![Page 8: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/8.jpg)
Agreements of this type are usually drawn up for duration of twelve to eighteen months.
![Page 9: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/9.jpg)
However, the duration of the contract may be longer at the discretion of the buyer and seller, especially if the buyer needs additional time to have the funds available for the mortgage.
![Page 10: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/10.jpg)
BUYER'S EXCLUSIVE RIGHTS
![Page 11: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/11.jpg)
The tenant and owner agree to the terms before the contract is signed.
![Page 12: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/12.jpg)
While the contract is in effect, the renter has an exclusive option to purchase the property.
![Page 13: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/13.jpg)
Lease-to-own agreements allow the buyer to put down less than a traditional down payment.
![Page 14: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/14.jpg)
The amount is usually between one and five percent. The renter pays the seller a deposit and the monthly payments go toward the purchase of the property.
![Page 15: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/15.jpg)
BENEFITS FOR LEASE-TO-PURCHASE BUYERS
![Page 16: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/16.jpg)
The lease-to-buy contract is an opportunity for a buyer to save money for the purchase when they don't currently have the funds for a traditional down payment.
![Page 17: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/17.jpg)
The contract allows a buyer with a low credit score to increase their score and resolve any credit problems before the lease expires.
![Page 18: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/18.jpg)
The higher the credit score, the more likely the buyer is to be approved for a mortgage.
![Page 19: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/19.jpg)
The advantage of a lease-to-buy contract is that the payments the buyer makes build equity in the property.
![Page 20: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/20.jpg)
If the buyer is approved for a mortgage, the property can be purchased at any time while the contract is valid.
![Page 21: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/21.jpg)
Entering into a lease-to-purchase contract is a good way to determine if buying a condo or loft is the best option.
![Page 22: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/22.jpg)
WHAT SELLERS NEED TO KNOW
![Page 23: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/23.jpg)
A lease-to-purchase contract can be beneficial for the seller when the market is slow. The contract allows them to increase their cash flow.
![Page 24: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/24.jpg)
The lease-to-buy agreement is a good option for real estate developers who are having problems leasing or selling units.
![Page 25: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/25.jpg)
Some real estate developers offer incentives to potential buyers. The broker may offer an option to buy at a set price if they purchase the condo or loft within a year of signing the lease.
![Page 26: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/26.jpg)
ENSURING A SUCCESSFUL TRANSACTION
![Page 27: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/27.jpg)
When entering into a lease-to-purchase contract, it's essential that all parties understand the contract.
![Page 28: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/28.jpg)
It's advisable to have a real estate attorney go over the terms of the contract before it's signed.
![Page 29: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/29.jpg)
The property should be inspected and all necessary repairs should be made before the contract is finalized.
![Page 30: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/30.jpg)
All parties should be clear about who will pay for the maintenance and repairs to the property.
![Page 31: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/31.jpg)
If there are any tax liens, it should be disclosed in the contract. The buyer should be aware of the amount due for taxes, HOA fees, and insurance.
![Page 32: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/32.jpg)
If you are looking for a condo to buy in Arizona, We Know Urban Realty will help you find the perfect place.
![Page 33: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/33.jpg)
Their realtors are experts when it comes to urban living. Visit the site to see what's available right now: www.weknowurban.com
![Page 34: Is A Lease To Buy Contract Worth Signing](https://reader035.vdocuments.us/reader035/viewer/2022062717/568128d6550346895d8b7940/html5/thumbnails/34.jpg)
Will Daly, BrokerWe Know Urban Realty, LLC834 E Claremont Street, No 3
Phoenix, AZ 85014(480) 510-8755
Email: [email protected]