Is a lease option or lease purchase a good option after a foreclosure or short sale?
We get many calls from East Valley home buyers who are looking for a lease option or a lease purchase. Often these buyers have lost their last house to a foreclosure or did a short sale and are looking to become homeowners again right away.
Both a lease option and lease purchase have worked much better for sellers than the buyer. The reason is the buyer usually needs to put down as much as 1% of the sale down as a non-refundable earnest deposit and the rent price is usually much higher than a standard rent price with some of the extra rent payment going towards the purchase.
Sound good so far, well now consider that somewhere around 85% of all these will never sell to the person who is leasing it, and yes they are like you, they intended to purchase when they made the deal. When the buyer does not follow through with the purchase of the home they lose the money they put down in addition to all the extra rent they have been paying.
Our advice, be careful. A lease purchase or a lease option in the East Valley sounds good, but usually it is only good for the seller.
Who says you can't teach a rocket scientist new tricks. Since Kristin left her former profession for her new one she has built one of the fastest growing businesses in the East Valley. Kristin is known for her Youtube videos, make sure you check them out. 
After a long career in political consulting Dean transitioned to real estate and has not looked back. Dean is one of the sick ones who enjoys fighting with banks to get short sales approved and to help homeowners avoid foreclosure. Dean also loves making videos on the subject.
First! ?
Looking forward to this. Yall are going to rock it.
Nope. Second… Nick was first and I had no idea how he even knew about it.. disregard what you see, massive editing still going on