| Wanted Home to Lease with Option to Purchase |
| Engineer and family are very interested in a home for Lease with Option to Buy or a Lease-Purchase, sometimes called Rent to Own. Currently there is slump in the home sellers market, many homes are heading to foreclosure and it is becoming harder for buyers to get conventional loans, because of these reasons many homes are staying empty for longer than expected. Our family wants a home in West Knoxville, TN. It should be 3 bedrooms or more, and in the price ranges of $80,000 to $139,000. Hardin Valley Academy School, in the areas of Farragut, Cedar Bluff, and/or Bearden. We will sign a lease agreement and a lease purchase agreement, we will pay a standard precentage down now, to go toward the purchase price at the end of the lease period, this would be similar to earnest money. Minor repairs are not a problem. Please NO Realtors. When responding to this ad please email a picture of the home, the address, the asking price, and any other information that would be helpful in making the decision to lease with option to purchase your home to our email at Regimac29@gmail.com Anything other than a home to lease purchase, or information on the subject will automatically be deleted. More about Lease Option: "The lease with option to purchase (Lease-purchase) offers the opportunity to buy a home for people without large amounts of cash available or poor credit. The option to purchase has to be taken before the lease time period expires. During the option period, anywhere from 6 months to 3 yrs, the would-be buyer has the opportunity to rebuild their credit, obtain a loan for the home, and/or save money. A lease-purchase can give a seller income for the home, while they wait for the lease option to be exercised. If the option is not taken by the end of the lease period the monies used for the down payment may be kept by the seller. If the option to purchase is taken the money, given as the down payment, goes toward the purchase price of the home" "A lease purchase uses the same contract as a Lease/Rental agreement, the only difference is that there is also a Lease-Purchase agreement filled out at the same time. The Lease-Purchase includes the time of the option, generally 1 to 2 yrs, the accepted price, (how much the home would be bought for) which is agreed upon by the buyer and seller) and any other conditions, such as the buyer must obtain a mortgage loan, or there must be a inspection on the home, or seller agrees to do some repairs to home during the time of the lease" to name a few. "(Exerts taken from, "Using a lease-purchase to buy" by Jack Guttentag, and "Understanding a lease with option to purchase" by Benny L. Kass.) A lease purchase uses a standard lease agreement, to see a blank Tennessee lease agreement click below www.ilrg.com/forms/lease-res/us/tn For a blank Lease with Option to Purchase agreement click below www.ilrg.com/forms/lease-to-purchase.html |
| We want a lease purchase of our own |
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