We are looking to sell our home in Orlando, FL. A prospective tenant is seeking to rent the home for $ 1700 per month for one year with a "lease option" to buy at 5,000, which is amount we wish to sell the home for at this point in time.
We live in the Middle East and do not understand the word "lease option".
www.wendypatton.com Wendy Patton explains how simultaneous closings work in a lease option investment. Simultaneous closings are a critical step to understand for real estate investors when it comes to getting cashed out of your lease option or rent to own investment. www.wendypatton.com
www.wendypatton.com – This is a description of my new book Rent-to-Sell which is for sellers who can’t sell their homes and the real estate agents that serve them. You can order this book at wendypatton.myshopify.com
www.wendypatton.com Wendy Patton explains what happens with a rent to own if the appraisal is different than the agreed upon sales price. Sometimes a lease option property ends up appraising for less than the agreed upon price and Wendy explains your choices. Sometimes a rent to own property appraises for more than the agreed upon price and Wendy Patton explains then to what happens. Obviously because rent to owns take place over time the value of a property may change and it’s important for real estate investors to understand what happens if the appraisal comes in different than the agreed upon purchase price. http