I’ve written before about how various markets around the country are affecting home sales in the Raleigh real estate market.  Several of my relocation clients in major markets are having great difficulty selling their homes so that they can move to the Raleigh area.  Some of these other markets have more than a year of inventory.  Ouch!  There is an alternative that is becoming popular and, if you are in this situation, it might just be the answer you are looking for.

About a month ago one of my clients from the west cost asked me what I thought of the idea of a lease to purchase for the home they were trying to sell in the Washington state area. 

The way the deal would work is that someone would have a lease on the property for two years.  During that time the tenant would pay enough to cover the mortgage, some profit for my client, and some money that would be applied towards the tenant’s equity, or forfeited as additional profit for my client if the purchase option was not exercised at the end of the term.  This is a great idea!

The market where my client is trying to sell their home is really bad right now and you just have to believe that it will be better in two years.  The lease to purchase allows them to move forward with their plans to relocate to Raleigh without stretching their budget too thin.  If the purchase option is used at the end of the term, great… problem permanently solved.  If not, they have a nice profit for their troubles and they can put the home back on the market at a time that should be more conducive to selling in a reasonable amount of time.

In challenging times it pays to think outside the box.  Sometimes it pays big.  Give me a call, or email me if you would like to discuss this in more detail.  I can also connect you with an expert in your area who can help you find a tenant/buyer and negotiate a good lease to purchase agreement for your home.