You can certainly set up a corporation for that purpose (just set up a LLC). The problem is the corportation won't have any credit history (at least not at first) so the bank won't lend it money. Typically the corporation would either have to pay cash or the owner would have to sign for the loan themselves (though the corportaion could stillhold title – mostly for safety/insurance reasons).
bossara aiko / Jul 17 2010
I am for lease with an option to buy…Open ended contract
shiger / Jul 20 2010
Real Estate News Rich Investor, Broke Investor: Responding To Your Concerns About …
iwermenutt sienlaycoc / Aug 11 2010
Lease Option And Credit Repair System.
bownie mohaki / Aug 13 2010
Chevrolet Dealers in Launch Markets are Taking Reservations
After years of waiting, we finally know how much the Chevy Volt plug-in hybrid will be sold for: The Volt’s MSRP will start at $41,000 ($33,500 net of the full federal tax credit, which ranges from $0-$7,500) including a destination freight charge of $720. GM will also be offering a lease option with monthly payments of about $350 for 36 months, with $2,500 down.
norellos / Aug 15 2010
Hi Esther,
A lease option is a good way to sell right now, but it is important to protect yourself when doing this.
You will basically have two contracts (this is how I do it) one is a regular HUD approved lease and the other is a purchase contract. It is important to never write anything down as a "security deposit" since you are not renting it out. It is best to leave anything that says "security deposit" blank on the lease and instead put it down as an "option consideration" on the purchase contract. Get as much option consideration as you can – the more they put down the more emotionally commited they are to buy the house – since the option consideration is NON refundable.
Remember, you are giving up your right to sell the house to anyone else for the length of the option and allowing them to lock in the price at todays market value and helping them get into a nice house that they couldnt otherwise buy. That is why the option fee is non refundable.
Only about 1 out of 3 options actually close so be prepared. The good news is that in two or three years the market will be much better and you can sell it for more than you are asking now ;p
giulindle gover / Aug 17 2010
Scottsdale, Arizona Real Estate Home Buying Tips | Doorcounty …: Purchasing a home may be the single most import…
qginnini / Aug 18 2010
oh, I’m not buying a house, I’m looking to rent.
lozinama / Aug 18 2010
congrats on this goal being reached!
poyneau / Aug 30 2010
Lease option is for lease purposes only. What it means is that at the end of the lease they have the option of extending a lease. That option has to be exercised at least three months in advance. and both parties to agree on. The option to buy that property can also be added and quite in advance before the lease expires. so that you have enough time to advertise for lease or try to sell it. Send me an email if you need more help.
You can certainly set up a corporation for that purpose (just set up a LLC). The problem is the corportation won't have any credit history (at least not at first) so the bank won't lend it money. Typically the corporation would either have to pay cash or the owner would have to sign for the loan themselves (though the corportaion could stillhold title – mostly for safety/insurance reasons).
I am for lease with an option to buy…Open ended contract
Real Estate News Rich Investor, Broke Investor: Responding To Your Concerns About …
Lease Option And Credit Repair System.
Chevrolet Dealers in Launch Markets are Taking Reservations
After years of waiting, we finally know how much the Chevy Volt plug-in hybrid will be sold for: The Volt’s MSRP will start at $41,000 ($33,500 net of the full federal tax credit, which ranges from $0-$7,500) including a destination freight charge of $720. GM will also be offering a lease option with monthly payments of about $350 for 36 months, with $2,500 down.
Hi Esther,
A lease option is a good way to sell right now, but it is important to protect yourself when doing this.
You will basically have two contracts (this is how I do it) one is a regular HUD approved lease and the other is a purchase contract. It is important to never write anything down as a "security deposit" since you are not renting it out. It is best to leave anything that says "security deposit" blank on the lease and instead put it down as an "option consideration" on the purchase contract. Get as much option consideration as you can – the more they put down the more emotionally commited they are to buy the house – since the option consideration is NON refundable.
Remember, you are giving up your right to sell the house to anyone else for the length of the option and allowing them to lock in the price at todays market value and helping them get into a nice house that they couldnt otherwise buy. That is why the option fee is non refundable.
Only about 1 out of 3 options actually close so be prepared. The good news is that in two or three years the market will be much better and you can sell it for more than you are asking now ;p
Scottsdale, Arizona Real Estate Home Buying Tips | Doorcounty …: Purchasing a home may be the single most import…
oh, I’m not buying a house, I’m looking to rent.
congrats on this goal being reached!
Lease option is for lease purposes only. What it means is that at the end of the lease they have the option of extending a lease. That option has to be exercised at least three months in advance. and both parties to agree on. The option to buy that property can also be added and quite in advance before the lease expires. so that you have enough time to advertise for lease or try to sell it. Send me an email if you need more help.