When considering a Lease Option, there are two sides to be considered: buying or selling.
If you’re buying a Lease Option it is a great way to get into a property with the minimum of money down and without the worry of dealing with bank financing. You are simply taking over the mortgage payments on a property and the loan is being signed over to you.
If you’re selling, a Lease Option allows your buyer to get into the property quickly without having to first go through the bank. The buyer immediately takes ownership of the property, so you don’t have to deal with the rental headache or getting phone calls about upkeep from the new owner. The best part about using a Lease Option is that you have a secured price for the property and if the new buyer can’t perform, the property comes back to you and you can turn around and immediately sell it to the next buyer.