Does the current economy downturn hurt possibilities of Lease/Purchase options? Perhaps it has tightened up the procedure! In the past, Buyers have been able to get into lease/purchase agreements with a minimum of problems. Now? Things are and will be changing. In the past there was a low percentage of Lease Purchase agreements that ever reached the closing table. In effect the Buyer was not able to clean up his/her credit and get a loan to close. The Seller most often ended up just being a landlord to a buyer who was not a good risk. With the credit crunch you will most likely see Buyers who have another home to sell, but with very good credit ratings. Higher down payments and penalities for not closing loom on the horizon. Buyers will think twice before entering into agreements with Sellers who really do want to sell, not rent. If the Seller can finance he will require much higher payments, down payments, credit scores and will require a shorter time prior to closing. Yes, the credit crunch will touch every facet of the real estate market. Yes, the credit crunch may be eased some for the banks and lending institutions, but for the mainstreet, there will be no bailout. Be sure and check all your options and negotiations with your attorney and financial advisor prior to closing. For local area information and to for homes for sale, or lease purchase, contact Flynn the Ga. Real Estate Lady at http://www.FlynnTaylor.com or go to the site and browse all the information for free. You can email me at Flynn@FlynnTaylor.com . Investments, resort opportunities, second homes and vacation homes! Just a short way out of Atlanta!
This entry hasn't been re-blogged:
Re-Blogged By Re-Blogged At
Generate More Leads from this Listing
With a Trulia Pro Account
Find what you need?
See More Blog PostsAbout Real Estate! SEE MORE NOW!