Lease Options and Estate Agents – Helping Sellers Move on
Many of those who contact us at Lease Options Made Simple want to know how they can use lease options with estate agents. Here is an example of a lease option deal I agreed through a local estate agent, called Dave, in County Durham.
Dave introduced the idea of a lease option to a number of sellers he had who did not need the cash out to move on… here’s what happened with one of them.
Financial Stress and a Lease Option Solution
Kurt was one of the sellers who wanted to know more. He had become a property owner at a relatively young age, with the help of his generous father. Kurt spent time and money improving the two bed house which was very well situated on the edge of a national park. Then, things changed for the worse. Kurt lost his job, and his father had to step in to pay off the modest arrears to avoid repossession. Unwilling to put up with such financial pressure, and averse to dealing with tenants, Kurt decided to sell.
Lease Option – a Solution With Real Appeal
Kurt owed the Lender about 80% of the value of the house, but had spent time and money on improving it, so was unwilling to sell at a huge discount. At the same time he had lost his job and was not able to continue paying the mortgage. He found the offer of a fair purchase price within sixty months and no ongoing costs to worry about until completion very appealing. This arrangement gave Kurt time to get back on his feet and find work, without the financial burden of having to maintain a house he never planned to live in.
If you would like to know more about how to use lease options and work with estate agents to help motivated sellers move on -Simply Click Here and Get Our Lease Options Made Simple Investor Handbook.
Hi Mark – Firstly, may I say how I greatly enjoyed the LOMS Seminar that you and Wendy presented back in May. Mark, I’m embarking on a strategy locally, to engage with Estate/Lettings Agents. Having already purchased your valuable LOMS handbook and Estate Agents eBook, I’m aware of the Direct Drop approach. My questions is, how brief or detailed does the initial contact by fax/email/letter need to be? What are the pertinent points that need to be made in this first communication, so that I can increase my chances of a positive response from the Agents? I look forward to your reply.
Hi Vijay,
Good to hear from you. And brilliant that you are taking action!
Drop me a line direct mark at lease options made simple dot co dot uk and I will get back to you on this.
Mark
Great article, and nice to see how lease options can work with estate agents. Carry on the good work.