Considering The Lease Option
If you are struggling to sell your home and meet at least one of the following criteria, the lease option, also referred to as ‘rent to own’ and ‘lease with the option to purchase’, could be the ideal solution for you:
- You have insufficient equity left in the property to make it practical to sell
- You own two houses, but cannot pay for both mortgages
- You want to move, but need to find a way to pay the mortgage
- You do not need a lump sum from the sale of your home to move
- Moved in with your partner and stuck with an additional house
At Sell My House – Fast – London, we can offer you a lease option, whereby, throughout the duration of the lease, we will cover your mortgage payments and any maintenance or repairs that need to be done to the property.
We make leasing simple to set up. The lease option works in the same way as when we lease a vehicle, but at the end of a specified duration, we have the right to buy your property from you at the initially agreed amount. The sale price is calculated based on today’s open market value. The length of the lease is determined using the current status of the economic climate and our forecasts for the future, and is typically between 5 and 10 years.
At the end of the lease, our cash sale process ensures the sale of your home is quick and efficient. We aim to complete the process within days of entering into the sale. Also, as there are no survey fees, estate agents’ commission, or hidden costs to pay, you can rest assured that the service will not become financially burdening. The title deeds remain in your name throughout the duration of the lease, and are transferred over to us at the point of completing the sale. You can also instruct a solicitor to pay off your mortgage, and any other debts secured on the property, upon completion.
Leasing properties is becoming an increasingly popular method of helping people who want to move but cannot sell.