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Showing results for tags 'option'.
Found 5 results
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Hey, My name is Ashley Williams, age 26, from Shropshire. I’m currently saving up for my first buy to let. While I’ve been saving up I have spent a lot of time researching how to invest in property and I came across lease option agreements, and love the idea of them especially if you can find a landlord that wants to off load some/all of their properties, if done properly it can save the landlord a lot of time and money. I would love to find someone that has got experience in lease option agreements and could show me how they work (mentor) All the best.
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Evening all, I have recently had an offer accepted on a Flat, with an unusual condition attached. This is the situation: Vendor owns all four flats in the building (and the Freehold). He has put all four flats on the market at the same time. The condition of sale for the flat I am trying to buy (FFF) is that he will only sell it if he can sell (at least) two of his flats, because he needs to raise a certain amount of capital to inject into his (unrelated) business. I do not know how much money he needs to raise, but i understand he has a threshold of two flats because of the CGT he will be liable for. So far there has been little interest in the other flats, so I am worried that my deal may fall through. I am ready to move on the FFF (75% Mortgage DIP and deposit funds etc.) now. Q1: What are your initial thoughts? To add to the mix, I would be interested in purchasing the TFF (in addition to the FFF), but I do not currently have the funds in place. I am planning to re-finance two of my existing properties in Sep to release equity for another purchase. Q2: Can anyone think of a creative option deal that might work for both me and the vendor, which might incorporate buying one flat now, and another in the Autumn? Appreciate any and all advice, thanks!
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Hi guys, Can anyone recommend any solicitors that understand/ specialise in Lease Option Agreements? Not particularly precious on where they're based. Thanks in advance
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Hi, does anyone have any experience with 'rent to buy' or lease options? I would just like some advice/information on them please Thanks
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I took the tenancy of a detached bungalow back in 2012 and as part of the deal the owner granted me an option to buy the property at a fixed price of £180,000 valid until October 2022. As part of the deal I have been paying £150 per month over and above the rent which will be saved by the landlord and will form a 10% deposit in 2022. In other words, its not a fee, just a savings scheme as long as I buy the property on or before the option expiry date. I have since entered into a relationship and my partner owns his house. However, I got permission from the landlord to sub-let the property and continue paying into the option scheme. If I want I could up the rent and make a decent profit month on month but I have found some very reliable tenants and I don't want to lose them. The way prices are going the property should be worth far more than £180,000 by 2022 and I thought a property expert may be interested in taking over the option. The landlord has told me I can transfer it or sell it. Is there anyone out there who could advise me on the best way to do this?
