A Buyers Guide To Lease Option Properties in Orange County

Many buyers want to avoid a permanent living arrangement where they realize they’re unhappy, and lease options are a solution for these buyers. During the contract period, you have a chance to try out the home and ensure that you want to stay in residence for the long term, following through with purchasing the property. For other buyers, lease options allow them the time to save for a downpayment and get their creditworthiness in order while enjoying the perks of homeownership. 

A lease option gives you the right to buy a property, but not the obligation, given you live up to your end of the agreement. In addition, the owner agrees that they won’t sell the property to any other interested party during the contract term and won’t pursue you legally if you decide not to buy at the end of the agreement.

It’s best to go into such a significant financial transaction with your eyes wide open to the agreement’s limitations. Typically between one to a three-year legal contract, it’s best to enter into the arrangement with realistic expectations about how lease options work. So read on to explore our buyer’s guide to navigating the world of lease option properties in Orange County.

Sales Price

Owners can only estimate the property’s future market value when determining the sales price

of lease option properties in Orange County, with the price stated in the agreement. As a result, the buyers agree to a purchase price above the current market value because the owner is taking a risk they’ll be selling at below market value at the end of the agreement. 

Rental Rates

Owners typically charge a premium and a higher than average monthly rent for their lease option properties in Orange County. The premium is typically applied as a credit towards the downpayment at the end of the agreement. Working with a lender will help you understand if the credit will be acceptable under their mortgage loan terms.

Finding Opportunity

Often buyers must seek potential lease option properties in Orange County and reach out to the owners, creating the opportunity. When searching for potential lease option properties, you will want to look for homes lingering on the market. These sellers may be more motivated and, with the right approach, open to other methods to relieve themselves of the responsibilities and costs associated with holding the property.

Mutual Confidence

Naturally, owners that sell lease option properties in Orange County will have to run a background and credit check as they would with any tenant. In this case, however, as the buyer, you will want to ensure that the seller isn’t about to lose the property, so you will need to research the title, have an inspection and appraisal, and screen the seller, asking for a credit check and their tax records.

H&M Realty Group

At H&M Realty Group, we can help you over any hurdles standing in your way, whether you are getting your financial ducks in a row or just want to ensure you are happy for the long term with the home you purchase. The professional home buyers at H&M Realty Group can help you locate the perfect opportunity without charging you the high commissions of a real estate agent. The professional home buyers at H&M Realty Group will save you money and time; we make the process easy and guide you step by step. And don’t forget to ask about our current inventory of the best lease option properties available in Orange County.  

If you are a buyer ready for homeownership, let the professional home buyers at H&M Realty Group help you maneuver the realm of lease option properties in Orange County. Call H&M Realty Group at 949-625-4533.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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