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Lease Purchase Option: Turn Your Rent Into an Investment

The real estate markets across the whole country are suffering due to the economic instability. A lot of real estate sellers are having difficulty in selling their properties and a lot of home buyers are also finding it more difficult to obtain mortgage loans and bank financing. A lot of potential home buyers are unable to meet the tougher loan qualification requirements today and a lot of buyers also have insufficient credit scores. It is for these reasons that both sellers and buyers are looking for alternative housing options that can provide them with good returns in the long run. It is very fortunate that there are rent to own companies like OwnerWiz that offers sellers and buyers the option of lease purchase. Lease purchase or lease-to-own option is a very valuable alternative which allows potential home buyers to acquire the property they want without dealing with banks and mortgage companies.

A lease-to-own house purchase is a lease agreement that is combined with an option to purchase the property within a specific period. The set period is usually 3 years or less. This lease agreement includes an option fee which is a type of down payment on the property and it usually ranges between 1 and 5 percent of the purchase price. This fee is paid at the beginning of the rent-to-own lease agreement. The seller will credit this fee towards the purchase price. Aside from the option fee, the tenant must also pay for the monthly market rent and a monthly rental premium. The monthly rental premium will be credited towards the price of the home as well. This means that at the end of the set period, the home buyer can turn his or her rent into an investment. OwnerWiz is a rent-to-own company who can help buyers find the right rent-to-own home option.

The tenant also has the opportunity to earn equity gains despite the unstable real estate market because the purchase price is fixed. Realties like OwnerWiz can help home buyers find the right rent-to-own homes that will suit their budget.

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