How much does it cost?

In addition to the monthly rent, there is an up-front payment called "Option Consideration/Deposit" that the tenant (buyer) pays to the seller as consideration for granting the lease option to purchase. This "Option Consideration" will be applied toward the down payment for the purchase of the home, but is non-refundable if the tenant does not exercise the lease option within the specified time period.

What about financing?

At the end of the lease option period, it is the buyers responsibility to obtain the financing necessary to complete the home purchase. For this reason, we highly recommend that buyers interested in entering into a lease option should first consult with a mortgage professional of their choice to assure they will be able to qualify for the loan amount on the future date the lease option will be exercised.

Call Dave Hallauer & Associates of RE/MAX Gold to explore the benefits of a Lease Option for both Buyer & Seller... Yes, it can be a Win-Win for both parties!