A Lease Purchase Agreement Can Help A Seller Get Top Dollar For Their Property

By Author: Jamie Hanson
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A Lease Purchase Agreement Can Help a Seller Get Top Dollar for Their Property

Under a lease purchase agreement the tenant is gratified to buy the assets after the lease period expires. Thedeal can also be extended. This practice closes the deal easily, smoothly and neither the buyer nor seller getting affected.

The advantage goes to the seller as he gets up front payment from the buyer. The deposit cash is forfeited in case the buyer backs out of the agreement. The deposit for purchase of the property is equivalent to three percent of the property valuation. The selling price is decided initially by them and may have a section for any variations in the time ahead.

In the lease purchase agreement the seller has a greater degree of benefit, because if the buyer desires to extend the period of contract than the seller has an advantage of claiming extra money.

During all these period under the agreement the buyer is bound to pay all necessary dues related to the property such as taxes and other levies The tenant is under compulsion to keep the property in proper condition and undertake repair works as ...
... and when necessary. The agreement is advantageous to both buyer and seller

The buyer during the contract period has the privilege to stay in the home and evaluate the cost of the property and if found unsuitable may opt for another one, by forefieting the deposit money. The buyer is exempted from making large payments. However, he is obliged to pay a security deposit.

The seller always retains the option to cancel the agreement in case of default in payments by the buyer. They wait for the occasion for three consecutive months after which they cancel their deposit money and cancel the agreement.

The buyer also has the option to make the payment before the expiry of the lease agreement and own the property. Since the demand of buying properties is greater the seller can demand top dollar for the property.

The buyer may request for an extension. This is an chance for the seller to go for valuation hike and ask for more money. The advantage is more for the seller as he gets the market valuation of the property, prevailing at the time of final closure of the deal

Whatever be the situation, the lease purchase contract is beneficial, equally to the buyer as well as to the seller. Since many people are looking for rent they take the benefit of lease purchase agreement.

If you want to know more about how a Lease Purchase Agreement can benefit both the buyer and the seller, be sure to visit: http://www.leasepurchasemadeeasy.com/lease-purchase-agreement.html