Lease Options,
lease options or lease with option to purchase, The fast, easy approach to home selling has helped hundreds of people in the Twin Cities area. How can it help you?
Taschner Investments specializes in selling homes using lease option programs to provide win-win solutions for buyers and sellers.
lease options
As with any new opportunity, questions are sure to arise. The first question is usually, “How much is this going to cost me?” The answer is simple. We make our profit from the buyer, NOT from you. Rest assured, we’ll get to this question and a whole lot more as we go. (We’ve included a common “˜Questions and Answers’ section for your review.) 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 whether or not your house will sell!
The best part of it is that your mortgage does not even have to be assumable for this to work. Regardless of the type of loan that you have on your house… assumable, non-assumable, VA, FHA, Conventional… our lease option program works for all transactions.
The Bottom Line?
We take care of the payments for you each and every month, we take on all responsibility for the minor maintenance and upkeep of your property, find a qualified buyer, get them to the closing table, and liquidate your asset before it becomes a liability! Now seriously, does it get any better than that?
Summary of Benefits:
- No more vacancies
- We take the house in an as-is condition
- Save or repair your credit
- Immediate debt relief
- We make your payments, guaranteed. No more missed or late mortgage payments
- Longer than a normal lease period
- Automatic principal reduction in your mortgage
- No management / rental headaches. No repairs
- Opportunity for significant increase in total income
- You retain all property tax benefits
- You may qualify for additional tax deductions (including depreciation, improvements, and repairs)
- Possibly decrease tax liability by turning short term capital gain into long term capital gain (lower tax rate)
Frequently Asked Questions…
What is a lease option?
A lease option is essentially a purchase contract with pre-negotiated terms combined with a rental agreement. The buyer leases the property for a specified period of time and then has the option of purchasing the property before the end of the lease agreement. Sales price, length of rental, closing costs, and maintenance are all negotiated much the same as a conventional real estate transaction. A lease option, if properly utilized, is both a seller and a buyer’s dream come true because it can eliminate many of the negatives normally attributed to the selling and buying of a home.
How does it work?
We present a monthly lease amount as well as a pre-determined sales price that is agreed to by all parties. A lease option/ purchase is basically a monthly lease set up over a pre-determined period of time. At the end of that time, we purchase the home from you for whatever the pre-determined price is.
The basics are simple:
- You rent your property to Taschner Investments.
- You give Taschner Investments the right to buy your property for a set price.
- Taschner Investments places a tenant/buyer in your property.
- The tenant/buyer receives the right to buy your property at or above your agreed price.
- We don’t make our money off you, we make our money off the tenant-buyer.
How can you say I won’t have any vacancies?
You won’t because your tenant will be Taschner Investments. We’ll agree on a lease term””2 years,3 years, whatever you want. And that’s the end of your vacancy problem. If our tenant/buyer moves out, then that’s our problem, not yours. We’ll keep paying like clockwork.
That sounds great, but I don’t want to have to worry about repairs on a house, I want to be done with it! Who handles the repairs?
The great thing about the Lease Option/ Purchase Program with Taschner Investments is that we take care of all of the day to day repairs that are needed on the property. While most landlords don’t last long in the real estate business because they quickly get tired of late night phone calls for minor repairs, Taschner Investments takes the “landlord” out of getting a monthly income. We handle both the calls and the repairs, and you can sit back and enjoy your check.
How do you eliminate my maintenance and repair problems?
You’ll have 4 levels of protection. First, Taschner Investments will purchase a homeowner’s warranty at no cost to you and will keep it in force for the life of the lease. Second, the tenant/buyer will be required, by the terms of his or her lease, to perform all maintenance and repairs. Third, if any problem comes up that the tenant/buyer is unable or unwilling to perform,
Taschner Investments will do it. And, fourth, you’ll maintain your homeowner’s policy to protect against incidents covered by insurance.
How is Taschner Investments able to do this?
Taschner Investments helps companies throughout the Twin Cities Metro area with home placements for employees that are transferred here from out of state. We also help people that are just shy of getting qualified through traditional lenders for the purchase of a home. Taschner Investments places only the highest qualified families in homes in all areas of the Twin Cities, and in all price ranges.
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 the paperwork as well as the placement of tenants and monthly payments. And because you don’t have to worry about the day to day repairs, the only thing you 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 can 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. Others prefer us to set up an escrow account where we mail the rent to the escrow account and the account pays the mortgage. (You can call the escrow account anytime and request a statement of activity so you can see when the rent was paid and when the mortgage was paid.) We can even set it up to automatically pay your lender each month. That way you won’t have to worry about a thing!
How do I know if you’ve made the mortgage payments for sure?
If we set up the payments to go directly to your mortgage company, and the payment is not there, your lender would immediately notify you. You are always in the know. Further, you can contact your mortgage company any time to verify that they have received the payment. We usually set this up through our bank as an automatic payment so that there is no room for human error.
What if the house is completely outdated and needs repairs now?
No problem. We work with both buyers and sellers in every type of situation you can imagine. Believe it or not, we have a lot of buyers that don’t mind doing a little fix-up in return for rent credit. We work this all out FOR you, so you don’t have to!
What if a tenant tears up my house?
There’s no way that I can guarantee you that a tenant won’t damage your house since you or I won’t be living with them. But under the agreement that I will have with you, as the seller, if that happens, I will repair it at my expense. My objective is not to find a “tenant” – my objective is to find a Buyer who will eventually own your house. I investigate them thoroughly before entering into an agreement with them. Damages are rarely a problem. In fact, in most instances we have found that our buyers many times have improved a house with new carpet or some other upgrades, such as fencing. Again, if it does happen, we’ll fix it, and I put that in writing.
Who handles the paperwork? Do I have to pay for that?
We have all of the necessary documents to make the transaction happen. Of course, you are always welcome to have these items reviewed by your real estate agent or lawyer at any time during the course of the transaction. We want you to be 100% comfortable with everything before moving forward.
What else do I have to do?
That great thing about selling your house on a lease option is that you don’t really have to do anything else at all! Our agents take care of finding the perfect tenant, the monthly payments, and more. You just sit back and consider your problem solved!
Any Other Questions?
If you have any other questions or concerns, please feel free to call us at 651-347-1657. Or, e-mail us at Contact@TaschnerInvestments.com.
