Lease Purchase AKA Rent to Own is another creative way to purchase a property

Are you in the market to purchase home? Bad credit can cause some troubling headaches throughout the entire lending process. Lease purchase is a great solution in your situation, especially, if you don't have significant savings. This technique will let you get into the property right away with reasonable contribution. An experienced investor should be able to structure the deal so that you can buy out the property you are leasing in 6-24 month.

This is what we do for our buyers who are on Lease Purchase program. First of all, an action plan is created for them. There are several points that have to be considered: those are credit, income and asset information.
Usually income is most important matter that we look at. We never put a buyer into the property if he or she cannot afford a monthly payment.
Derogatory items on the credit are often overlooked as long as buyer has a reasonable explanation like health problems, prior loss of job, divorce etc.
Savings is another important qualifying factor. If there is not enough money saved up by the candidate then we will structure a deal in a way where buyer will have enough to purchase the property by the end of the lease term. It can be done in several ways, such as sweat equity, credit back from each monthly payment and seller’s contributions towards purchase.
Before buyers get into the property, they know exactly what has to be done in order for them to purchase it by the end of the term. Everything is negotiated and locked upfront into contract: purchase price, monthly payment, credits, seller contributions, time frame and deposits.

Most our properties are available for Lease Purchase program please visit http://www.molotinc.com/Inventory/Inventory.html to see if you are interested in any of our properties. Keep in mind that the terms are negotiable.