subject: You May Have To Get Creative To Sell Your House In This Market [print this page] You certainly are trying to sell your house but you need to keep in mind that it is
important to have proper documentation so the rights of both buyer and seller are
preserved till the time the deal is not completed. It is also important that you understand
that before making the final payment there certainly are all possibilities that the buyer
can in fact try and rent the place. This is where lease purchase agreement comes into play
as this agreement is very much useful in this circumstance. This type of agreement is
generally considered as a type of bond that is done between both buyer and seller of the
property.
You also have to keep in mind that when performing such property
dealings you can always make use of three distinct options Lease Purchase Agreement, rental agreement
and purchase and sales deed. So in most cases the moment buyer is just not ready to close
the deal by making complete payment of the property then you can always try and make
best use of lease purchase agreement. This generally is also considered as one of the best
options so the seller can in fact get a chance to rent out the property to the buyer till the
time he is not willing to pay the complete amount for closing the deal. The contract can in
fact be made for a period of one or two years but it is important that the dealer makes the
payment within desired time or else the seller has full rights to cancel the deal.
In most cases, this type of lease purchase agreement is only limited for a period of two
years, but by mutual understanding these terms and conditions can be altered. This type
of agreement is considered as most favorable for most sellers as they get to collect the
sum of 3% of the property value as security deposit before the buyer can in fact move
into the house. This is a safety deposit such that the buyer might not purchase or owe this
house till he has made the balance payment on time. So the moment you are opting for
any such deals then it is important that you have to try and take all possible precautions
when preparing lease purchase agreement. This is very much important so that any
further issues can in fact be avoided. The moment you are planning for getting your Lease Purchase Agreement then
it should always be done under supervision of a genuine and trusted lawyer. Browsing
internet is also one of the best ways to get these agreements for a much reduced price but
the moment you make your purchase online always ensure that you have gone through
the lease purchase agreement before making the payment.
