In listing a house, a realtor usually doesn't ask a seller if they would be willing to do a Lease Purchase or a Lease Option. I believe Orlando is a part of MFR, Mid Florida Regional MLS, as we are here in St Petersburg and so a property status can be marked as lease option...but it is is up to the agent to ask if the seller is willing to do this. You must also know the distinction between Lease Purchase and Lease Option. A Lease Purchase is where you have agreed and contracted to lease the property WITH the agreement that you WILL purchase the property at some point in time. A Lease Option gives you the OPTION of purchasing the property at some point in time, usually the end of the lease period. It is common to put down option money that is not refundable if you decide to back out. How you draw up the agreement of terms is between you and the seller. With either the Lease Purchase or Lease Option, it is a common misconception that all of your rent would be applied to the purchase and this is just not the case. Only a portion of your rent is applied to the purchase since the seller is still acting as the landlord and having to pay all the house bills and upkeep.
This is very difficult to find. Why? Would you sell if you can find a buyer that would pay you the entire amount upfront? I am sure the answer is yes.
I will appreciate if you can inform all of us.
JR
And they're very easy to find, though most won't be listed that way.
See my blog at http://bit.ly/findaleaseoption for more information.
Hope that helps.
Thanks for your inquiry,
Mike
407-463-5348
All the best to you.
