Lease options give would-be buyers a set amount of time to qualify for a conventional mortgage before they purchase, while enjoying the perks of homeownership in the meantime.
Want the fastest route to a sale? Here’s how to sell your house fast in Winston-Salem, NC.
For savvy sellers, the benefits of a rent-to-own arrangement can far outweigh the risks. So read on as we explore using a lease option to sell your house in Winston-Salem.
Option Fee and Rent Premiums
The option fee gives your tenants the exclusive right to buy the property. If they choose not to exercise that option at the end of the agreement, you still keep the fee and the rental premium you’ve collected along the way.
Savings
Under this arrangement, you save the holding costs on your investment property while it keeps appreciating and building wealth. And if the tenants leave, you’ll have had everything but taxes and insurance covered during the lease term, with the property gaining value the whole time.
Buyers
Rent-to-own buyers may need time to repair their credit and build a down payment, or simply want to test-drive the property before committing for the long haul. Often they’re willing to take on the financial risk after a bad experience with neighbors or another property. Whatever the reason, you open your home to a high-demand market segment and can realize significant returns.
Management
Keep the option and the lease as separate contracts. For sellers, there’s very little day-to-day management of the property itself, though your tenant-screening system can make or break the deal. Working with seasoned investors like the professional buyers at Offer Out Home Buyers and their property-management team means you’ll land the best tenants.
Risk
Be upfront with your lender to ensure there’s no conflict with your mortgage’s due-on-sale clause. Add a home warranty that covers major repairs, or require the tenants to carry one; typically they’re responsible for repairs up to a set amount. As a landlord you also need to stay current on the laws governing rentals, along with a working knowledge of the local market, future zoning, and economic planning, to keep your portfolio healthy. Teaming up with an active local investor keeps you a step ahead.
Ready to sell your house in Winston-Salem? Our team is ready to buy, giving you your asking price via rent-to-own. Why wait? The contract terms are simple, and we believe in total transparency — if you have questions, we’ll answer them in full, no obligation. We’re your neighbors here in Winston-Salem, proud of the work we do to help our community. As local cash buyers, our investors will make a deal you’ll feel good about long after closing. Call us at (336) 715-4418.
