A lease purchase can be the ideal option for becoming a homeowner sooner than normal.
There are many paths to take to become a first-time home buyer, making it possible for families to achieve home ownership even if they don’t think they can do it. At Get That Deed, we work with families one-on-one to come up with a customized plan to own a home in 18 months or less. One tool that works for some families is a lease purchase.
A lease purchase involves working with a seller who is willing to enter into a contract where you provide a down payment and then a portion of your rent is applied to the purchase price over a set number of months, giving you time to qualify for a mortgage to finalize the purchase. This method can be helpful for getting into a home sooner while giving you more time to get your finances in order. It is important to have the lease purchase documents drawn up properly and have a clear understanding of the terms involved. That’s where our guidance comes in. We’ll provide you with the information you need to determine if a lease purchase is the best option for your situation.
A lease purchase isn’t the only way to purchase your first home in the Wilmington, North Carolina area, but it can be the best solution in certain circumstances. We can help you connect with real estate investors, realtors, and other professionals who can help you achieve your goal of becoming a home owner, as well as help you stay on track with our monthly accountability system. If you would like to know more about what a lease purchase is and other options to get your family into the home you have been wanting, reach out to us today to schedule a 30-minute consultation.