The Truth about Lease Option 先租後買

from surterre properties
from surterre properties

We have questions from clients wondering about the Rent to Own option. Initially what is means, is that the renter/buyer cannot afford to buy the house in his or her current situation, the reason be not enough saving, bad credit etc. The renter are able to rent the property and from one to three years, they will have the option to purchase the property. The monthly rent can be a source of income for the seller and portion of the rent can go towards down payment. The process has its advantages and disadvantages. The contract between both parties needs to be very clear. The seller needs to decide the sale price and the rent for the property before entering agreement. Once signed, the sale price will be final even if the market value went down or up until the end of the rental term.

There is also an option fee and rent premium. The option fee works as a down payment once the renter agrees to purchase the property at the end of lease term. If the renter was not able to purchase the property, the option fee will become sellers income. The rent premium is rent slightly higher than of the typical rent. It will also go towards down payment. This is a chance for the buyer to raise their credit score.

If the agreement allowed, the buyer will be able to walk away from the deal if they found out the house is not suited for them after renting. The downside is losing the optional fee and rent premium but they might be losing more if they had actually bought the unwanted house.

The disadvantage for the buyer is the option fee is pay upfront. Usually a percentage of the sale price. It might difficult the the buyer to come up with that large amount of money before renting.

Another disadvantage is at the end when the contracts up, they buyer’s credit score still reminds the same and not enough income. The seller although gets to keep the option fee and premium rent, will be back where he/she started.

The seller won’t be able to sell their property if a potential buyer offered to purchase the property even with a higher price because the seller has a contract agreement with the existing renter/buyer.

Many sellers use the rent they received as the mortgage payment for their old home and once the payment stopped, the seller are forced into foreclosure, not being able to afford the mortgage.

Rent to Own is a complicated process. The seller and buyer need to have a clear understanding what they are getting into.

from surterre properties
from surterre properties

前日有客戶詢問有關先租後買(lease option)的問題,似乎許多人不太清楚先租後買的詳細過程,藉這個機會跟大家說明一下。

會考慮先租後買的客戶可能有以下幾種狀況:無法支付足夠的訂金,信用不良目前暫時無法拿到貸款,或者是剛搬到陌生的環境因此不想冒然買下房子等等。

想以這個過程購屋的客戶,可先租屋一至三年,每月的部分租金可抵付之後的購屋訂金,待租約到期再選擇是否購買房子。

先租後買對買方與賣方各有利弊,買方和賣方之間的合約必須事先訂立的非常清楚,當雙方決定出售價格後,一旦簽約,即使市場價格下跌或上升,此出售價格也無法改變。此外,買家必須支付無法退款的先租後買訂金(option fee),租約結束後,如買家決定買房,此先租後買訂金可抵付購屋訂金,如買家決定不買房子,此訂金將被賣主沒收。另外在簽訂租約時,買家可每月支付額外租金,這些額外租金可抵付日後購屋訂金。每月準時付租金,是買家提高信用分數的好機會。 

先租後買對於買方的缺點有以下幾項:如果買家在租屋後發現房子並不理想,可選擇放棄購買權,但是之前所支付的訂金與額外租金將無法退款。再來是買家得一次支付大量現金做為訂金。

先租後買對於賣方的缺點有以下幾項:如在租約到期後買家決定放棄購買,賣主又得回到原點重新賣房。如果有其他買家想用更高的價格購買,因賣方已簽訂了合約協議,將無法出售。甚至有賣家以訂金和租金支付房貸,一旦買家決定放棄購買,沒了租金房子又賣不出去,房子反而被銀行抵扣。

先租後買是個複雜的過程,但是還是可以此方式購屋,買賣雙方需要完全了解完整的手續,更需要專業的房地產經紀人的協助。

 

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