The first step: Let's Pre-Qualify You!
One of the most important steps to take when considering a Lease-Option is getting pre-qualified. Getting pre-qualified will give you the information you need to determine what steps you will need to take to place yourself in a position to make your home purchase. It will also establish whether or not a lease-option is a feasible option for you.

A Lease-Option involves a tenant leasing a property for a fixed amount of time, generally 12-24 months, at an agreed upon price. The tenant reserves the Option to Purchase the home however he/she is not obligated to purchase the home. In a Lease-Purchase, a standard lease agreement and a purchase contract are used so that a Buyer (usually occupying the property) can purchase the property at a later date. In this situation, the Buyer is obligated to complete the purchase. The term Lease-to-Own is often used instead of the term Lease-Option, however, a Lease-to-Own and a Lease-Option are the same thing.

One of the main benefits of a Lease-Option to buyers is instant equity. If the home rises in value during your Lease-Option period, the Owner is still obligated to sell you the home at the agreed upon price. Therefore, you would have just purchased a home at below market value.

Our goal is to introduce you to a Lease-Option that will work for you. We require that we pre-qualify you so that we know that we can all be confident that at the end of the Lease-Option period, you should be in a strong position to purchase the home if you so choose. Should, for some reason, you not be able to qualify for a loan, we can then examine why and help you to work toward a resolution. If we cannot reach a resolution, you have the option of walking away from the property.

At that point, you can choose to walk away. Remember, you are under no obligation to purchase the home. You will, however, forfeit any money you have paid via rent credits, option money, etc.