Overcoming the Home Sale with a Lease Purchase and Closing the Home Sale
Claude tells an amazing story. Glad it worked out, due to your diligence. Shows what can be done starting with "just" a rental.
The rentals that scare me are the homes ADVERTISED, especially on places like CraigsList, as a lease purchase. Chances are high that the seller/owner is not making his house payments, or intends to stop, and will collect a big "deposit, first and last, etc. and then default on the loan. Leaving the "renter" to wake one day to a knock on the door from the sheriff, tacking a foreclosure notice on the front door.
Who Said Concord Homes for sale, in this area ,can't end up a closed deal:
The Dreaded - Lease/Purchase agreement?.
Hold on Trigger, this is not a walk in the park.
It was a quest that had twists.
Here is the story without names:
She came in through the bathroom window, (with 3 days notice.)
Family in tow, and a house to sell in snow country. She said she had 3 hours on the 17th to find a rental home or a lease/purchase home. Her children picked three from our site.
They were unaware of "my blog" and to "my online rankings". Her teenagers found "us".
I showed them the rentals, all in a row; but our picks seemed grim, and opportunities were slow...
Then up on a hill, their teenager screamed, "Hey Mom and Dad, let's look at that one-its the one that I dreamed!"
I said "that's no rental," yet I gave the agent a shout."
And told my clients, "Don't get your hope's up, whilst we look about"
Short Story: We got in.
They screamed in delight, "This is our our house and a very, very fine house". (Which it was.)
And with no Rhyme, (it was a straight sale), no Rental Option on the MLS, (where due diligence ultimately paid off).
Through levels of phone calls, hearing the listing agent protest; the sellers, well, they relented, as this was all for the best.
But hope springs eternal, and things happen 'bout; even that I, had begun this, with serious doubt. A lease-purchase deal was set to begin, all parties left the table, wearing a grin.
With paper work in order, they moved in to their new home.
This woman with a will to make it happen, did so today. How far we have come! Today, we went officially, from a lease to purchase, to a full out purchase, within a 5 month period, instead of what could have been a year.
There is a moral to this story: Don't look a gift horse in the mouth, and if it is a determined Mom with children in tow, get 'er done!
Claude Cross - Realtor® 704-975-1733
Broker/Owner of Homes by Cross
Serving Charlotte Homes Since 1994Email: Claude@HomesByCross.com
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