Posted by nick_niesen in Finance on November 8th Cheap Yevhen Konoplyanka Jersey , 2010
Have you ever dealt with bad renters? Late payments? Stains on the carpet? Calls late at night about a stopped toilet? Sometimes being a Landlord is not a fun game, especially when you have a nice home and bad tenants.
Have you taken advantage of the recent low interest rates and refinanced your home to the maximum? What about a home equity loan or other form of second mortgage? Do you know how much you can walk away with from the closing table after paying all mortgages and associated costs, like realtor fees? Many people walk away with very little or nothing. Some even have to pay. If this scenario applies to you, it may make sense to delay the sale of your home. It may be possible to generate positive cash flow and lock in a higher selling price with a FSBO (for sale by owner) leasepurchase agreement.
Here's another scenario: You want to sell your own home, but it's not moving as fast as you would like (or as fast as the "fast-talking" realtor who convinced you to list it). You've thought about renting it to cover your mortgage payment Cheap Vitolo Jersey , but nobody wants a short-term rental with no idea when they have to move out. And what if the tenant WON'T move out when you have it sold? A FSBO leasepurchase agreement could be a solution.
So you decide to leave it vacant. You make two, three even four mortgage payments. Your insurance company cancels your homewoner's policy because it has been vacant for more than 30 days (it's true, they can do it so read your policy!). You don't want to severely discount the price, yet you need to do something NOW! Here's a FSBO solution - lease with option to buy or leasepurchase (also referred to a rent to own).
What does the FSBO leasepurchase of a home mean?
LEASE + PURCHASE OFFER = LEASEPURCHASE AGREEMENT
At some time in your life, you have rented a house or apartment Cheap Vicente Iborra Jersey , so you are familiar with a lease agreement. If you have ever bought or sold a house, you are familiar with a purchase offer. The leasepurchase agreement is a hybrid of the two - a lease agreement combined with a purchase offer (sometimes called "rent to own" or an "option," or that is, the right to buy at an agreed upon price).
Here's an example of how leasepurchase works. Let's say you have a house worth $100,000. The "going rent" in your market for that house may be about $800 per month. A leasepurchase agreement would read essentially as follows:
Lease Term: Two Years Monthly Rent: $800
Purchase Price: $100 Cheap Timothee Kolodziejczak Jersey ,000 Rent Credit: $400month
Usually, part of the monthly rent will be credited towards the price of the house. In the above example, 50% or $400 per month is being credited. So if the tenant decides to buy after one year (lawyers call this "exercising their option to buy"), they would pay $100,000 - $4 Cheap Steven N'Zonzi Jersey ,800 = $95,200. If the tenantbuyer does not purchase the property, the owner would keep all of the monthly rent. The best part is, the $400month is considered "option consideration" by the IRS and does not have to be reported as income until the house is sold or the leasepurchase agreement expires!
As you can see, there are many benefits a leasepurchase can provide you Cheap Sergio Rico Jersey , including:
Immediate relief from mortgage payments
Fast Solution to the "Nice House in a Slow Market" scenario
Guaranteed no vacancy
No need to severely discount the purchase price
Tax deduction (since the property can be treated as "rental" for tax purposes)
WHY DON'T I JUST LIST IT WITH A REALESTATE AGENT?
It can't hurt to list with a realestate agent or broker. However, most realestate brokers simply "list" your property. This means they stick it in the multiple listing computer and wait for a bite. The first problem with this method is that there are thousands of other homes in the computer that read just like yours. If you want to move your house FAST, you have to offer something different. The leasepurchase is that special something that makes your house attractive.
The second problem is that most Realtors don't know what a leasepurchase is, how it works, and how to market such a deal. Most Realtors will not get involved with a leasepurchase Cheap Sergio Escudero Jersey , because they simply want a higher fee (after all, they have to make enough money to pay for those large display ads with their picture on it!).
For more information, check out ">JSC Rent To Own Homes
SEOUL, July 25 (Xinhua) -- South Korea's newly appointed trade minister on Monday accepted the U.S. counterpart's request to convene a special session of the joint committee on the U.S.-South Korea free trade agreement (FTA).
Minister of Trade, Industry and Energy Paik Ungyu Cheap Sebastian Cristoforo Jersey , who became the first minister for trade under the Moon Jae-in government, replied to a letter sent on July 12 by U.S. Trade Representative (USTR) Robert Lighthizer to negotiate on the amendment or modification of the bilateral free trade pact that came into force in 2012.
According to the reply letter unveiled by the South Korean ministry, Paik said his country agreed to hold the special session, requested by the U.S. side, in accordance with due procedures.
Paik Cheap Nicolas Pareja Jersey , however, suggested that the special session would be held after the new government's reorganizing process is finalized, saying the Moon government, which was inaugurated on May 10, should establish a trade office inside the ministry and appoint a new minister for the trade office who would become the co-chair of the joint committee on the South Korean side.
Under the bilateral free trade deal Cheap Michael Krohn-Dehli Jersey , either side can ask for the special session. The other side, in principle, is required to accept the request within 30 days.
Describing the U.S.-South Korea FTA as a "horrible deal," U.S.
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