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How to do a lease purchase for fun and profit
* UPDATE * 02/25/2009: I just came from the closing of a lease purchase I put some buyers in last June.
Their house in Florida remains for sale but they got a couple of raises and were able to qualify for a new loan here. I have another scheduled to close this April; I'll follow up here with that sale too.
This is what a lease purchase is all about; putting buyers in a house now they will buy a few months or year down the road.
 
If you have a listing or own a house you can't sell right away, a lease purchase is another option to consider.
I personally have done several lease purchases over the past few years both with my listings and with investment properties I've owned.
I currently have two lease purchases going on; one is set to close next Wednesday, my sale and my listing; and the second is going to close this coming April.
A true, well structured lease purchase is a good deal for both buyer/lessee and owner/lessor.
First of all you need some paperwork. For a lease purchase I use and highly recommend three separate documents.
A sales contract spelling out ... more

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