Lease Option

Could you take some money now and some later?

Would a steady monthly income interest you?

With a lease option, the investor pays you an option fee for the right to purchase your property within a specified time period at a specified price.  During the option period, the investor controls the property and pays you a monthly lease payment similar to rent.  You may agree to apply a portion of the lease payment to the purchase price, should the investor exercise the option to buy.  Whether the investor purchases the property or not, you keep the option fee.  Investors can often pay you a higher sale price if you are able to offer this option and are flexible with the terms.

Note: Although your property is not purchased immediately with this option, you cannot continue to reside in the property.  

Lease option is a good choice for you if:

  you have owned your home for a while and have some equity built up
  you made a large down payment on your home and therefore have some equity built up
  you don't have an immediate need for a large sum of cash