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A Good Real Estate Planning

June 28, 2010

If you have not had luck with the sale of your home after a reasonable time, you might consider renting, since the rents are rising while the number of tenants.

But if the market is not a big rebound in the coming years-which I doubt that will happen – it is best to find someone who not only wants to rent your property, also buy in the future. To do this, you and the tenant can sign a lease with option to buy. In exchange for a slightly higher price, the potential buyer will have the opportunity to buy your house at a predetermined price.

Provide an option means that you will probably find the cherished tenants who seriously considered the possibility of buying. These offerings also attract people who really want to buy, but can not at this very moment for some reason, the need to save for a down payment, a divorce or a costly foreclosure recently.

Often these people are willing to pay more to buy some time to stabilize its economy, while living in the house plan to buy. Although renting to people with problems may seem risky, often belies reality, especially if they had a good payment history and credit before they met their financial catastrophe.

The number of people suffering from financial problems is growing daily, but I see many rental contracts with purchase option, perhaps because many homeowners do not understand the business, when it is usually a winning proposition for the seller and buyer.

Simple contracts are formalized, although positive hiring a good real estate attorney for advice about potential hazards and to dispel our doubts.

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Filed under: Estate Planning

Tags: A Good Real Estate Planning, financial catastrophe, Simple contracts