If you have been trying to sell your home for a long time now without any success, you might need to start considering other options, especially if there is a mortgage that you are struggling to pay. Take a brief moment to review the following ways offering your home for a lease contract might be the best way to go for your situation.
Get Someone In There Now
How long has your home sat vacant? The longer a home sits unoccupied, the more likely it is that pipes will freeze, windows will become broke from vandals, or rodents will make it their new home. If you do not like the idea of leaving your home vacant, you need to get someone in there quickly. Offering it up for a lease agreement is a very easy way to do just that. After all, the process simply needs approved by you and papers signed between you and the person buying it through the lease to own option, which could be completed in as little as a day once you find the right buyer. Finding someone that can be approved for a traditional mortgage and then going through all of the closing processes can take a much longer amount of time.
Get Money Now
Is the mortgage falling behind? Do you have other bills that are suffering because the home has not sold yet? Maybe you would simply like to go on the vacation of your dreams. Either way, when you go for the lease-to-own option, you will find that you will have money in your hands a lot quicker. You are also in charge of how much money the buyer has to give as their down payment.
Can Do It A Few Times
Some people find that offering their properties under a lease to own agreement can actually be fairly profitable. For example, someone can agree to lease to own you home, make the down payment, and stay for a couple of years. They might then decide that they want to relocate, that they need a bigger home, or even that they can no longer afford the monthly payments. Either way, they walk away and you get to keep all of their non-refundable payments, including that large down payment. After you clean up the house a little, you can offer it as a lease to own again and do it all over again.
It should now be a little easier to see how a lease to own option might be the best way to get your property sold so that you are no longer responsible for it.