What is LEASE OPTION?
Why is it Becoming a Top Choice Alternative to Selling a Home?
Our fast, easy approach to home selling has helped hundreds of people in the United States. How can it help you?
Our objective is to make this as SIMPLE AS POSSIBLE for you so that you can move on with your life, and quit worrying about your house.
It is our goal to ensure the process of selling your home is a smooth and easy one for you. We strive to achieve a win-win-win situation in all our lease option purchases.
You, as the seller of the house, win by receiving the assurance of knowing that while the house is being sold, all of the expenses are taken care of, the house is maintained, and you are receiving all of the tax benefits associated with being a landlord, with none of the management responsibilities.
Our tenant/buyer wins by getting to own a home in a shorter amount of time than it would take them if they were trying to buy conventionally, as well as being able to immediately occupy their new home while qualifying for a loan. We have created a system that creates the paperwork that mortgage lenders look for when qualifying people for loans to assist our tenant/buyers. In addition, we give our tenant/buyers immediate credit tips to assist in the loan qualification process.
We win by profiting from the sale of the home, as well as gaining two more satisfied customers. The reason that we are in business, of course, is to make a profit, as well as to use our expertise in real estate transactions to assist homebuyers and sellers in making the sale or purchase of their home an easy, stress-free one.
Summary of Benefits For You:
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Frequently Asked Questions…
What is a Lease Option?
A lease option is essentially a purchase contract combined with a rental agreement. Diamond Homes leases the property for a specified period of time and then has the option of purchasing the property by the end of the lease agreement. Rental price, sales price, and lease duration are all agreed upon at the onset of transaction.
How does it work?
The basics are simple:
How much is this going to cost me?
The answer is simple. It doesn’t cost you anything. However, you will get less than market rent for your property. All regular maintenance, repairs, and vacancy situations are taken care of. You pay no commissions or closing costs.
If you choose to rent directly to a tenant-buyer, we help you with screening only. You will be the landlord and we will not be in the middle of the transaction. We will charge the tenant-buyer a one-time assignment fee for our services.
What are the advantages of selling my home by lease option over listing it with a Realtor?
We make your monthly payments while you rent your house to us. All regular maintenance and repairs are also taken care of. In addition, you build equity and would not need to pay any commissions or closing costs. This increases your gain on the sale of your house.
When you sell traditionally, on the other hand, you should put into consideration all the sale costs involved, including the expense of keeping your house on the market until it sells. You will need to pay mortgage, taxes, for heating, maintenance and any other costs needed to keep the house running until it is sold.
Why don’t I just sell my house myself or rent it in the meantime?
These are always options available to you. The difference would be that you are responsible for your monthly payments, maintenance, and repairs during the selling period. You need to try to find someone who can actually qualify for financing, wait for them to get approved, and hope that they don’t pull out of the deal, making you start the whole process over again. Regular renting during this period opens entirely new difficulties that would-be landlords often overlook, especially when you are trying to show the home and sell while renters are living there. This makes lease options a potentially preferable option for you.
How do you eliminate my maintenance and repair problems?
We perform all regular maintenance and repairs. In addition, you’ll maintain your homeowner’s policy to protect against incidents covered by insurance.
What do I have to do?
For the most part, as the homeowner, you don’t have to do anything. We take care of all paperwork and tenant/buyer placements. You only need to decide is where you want your monthly checks sent! It is really quite simple.
How do I get my payment each month?
We set it up however you like. Some of our homeowners like for us to electronically send the payment each month straight to their bank account, mortgage company or mail them checks.
How can I ensure that my house is maintained in the same condition as rented; What if a tenant tears up my house?
Damages are hardly a problem since we work with tenant-buyers to qualify for a mortgage. They are financially vested in the property and are thoroughly investigated before entering into an agreement with Diamond Homes. In fact, many times we found that our buyers have improved landscaping or fixtures. In the “Perfect Tenant Program” scenario, Diamond Homes guarantees the property to remain in its original condition.
Do I have to pay for any paperwork?
No, you will not need to pay for paperwork. Our competent real estate attorneys handle and review all documents. They are made very easy to read and understand. We want you to be 100% comfortable with everything before moving forward.
Taking the next steps?
If you think a Lease Option might suit your current needs,
CLICK HERE to Sign Up
Feel free to reach out to receive an offer or discuss your options
Phone: 860-837-0093
Email: offer@diamondhomesct.com