What is a ‘lease purchase’?
A lease purchase is a two-portion contract. You agree to buy the house after a period of time where you live in the property, agree on a purchase price, and deposits, with a secondary contract that addresses the terms of the ‘lease’ period.
Is it a good way to buy?
It depends on what your goals are. To find a seller who offers their Albuquerque home for sale as a lease purchase narrows your choices. Also, you might lose your deposit if you don’t close on the property according to the terms of the purchase agreement.
For more in-depth information about this type of purchase, or for any other question that you might have, either contact me directly, or simply post your question below.
I look forward to assisting you!