• Credit: With a mortgage you will be required to have excellent credit, but you can Lease Purchase Finance with bad credit while we help you improve your credit at the same time!
• Income: With a mortgage you will be required to verify all of your income, but you can Lease Purchase Finance with unverified income while you work on getting it verified.
• Fee: Lease Purchase Finance requires a non-refundable due diligence fee (sometimes called an "option fee") which gets applied 100% to your purchase price when you exercise your option.  The required fee will vary from seller to seller, but will generally range anywhere from $500 to 10% or more of the purchase price.

Why Use Group 15 Real Estate for Your Lease Purchase Finance?

• REALTOR Standards: Most people and companies offering Lease Purchase or Rent to Own deals today are not REALTORS, which means they are held to NO standard whatsoever in what they offer or how they deal with the public.  These people and companies are solely concerned about their own bottom line at the expense of the public. Group 15 Real Estate is a licensed real estate firm and is held to the highest standard by the North Carolina Real Estate Commission and the National Association of REALTORS: Code of Ethics.
• NC Real Estate Commission Contracts: We utilize the standard Offer to Purchase and Contract and Residential Rental Agreement issued by the North Carolina Real Estate Commission.  There are many other contractual options presented by other companies.  But we believe that is "risky business".
• Proven Process: When not done correctly there are problems that can arise with a lease purchase.  For example, what if the buyer-tenant has fulfilled all of their obligations and paid the option fee and has faithfully paid the rent only to discover down the road that the seller has not been paying the mortgage and the house gets foreclosed and the buyer-tenant loses all of their investment? Group 15 Real Estate mandates, if possible, to the sellers that the mortgage be paid out of the rent before any left over money gets sent to the seller.  This is just one example of how Group 15 Real Estate has designed a process to protect the buyer. And it further highlights just one example of why a buyer should not enter into a Lease Purchase deal without the help of Group 15 Real Estate.

What is the Lease Purchase Finance Process?

1. Free Consultation: Request a free consultation to convese with one of our agents and go through what the entire process will look like and get all of your questions answered about Lease Purchase Finance or buying in general or anything else you want to chat with us about.
2. Apply: The application is important as it will indicate things like how long of a lease-term you will need and what price range you should be considering.
3. Search: We have many methods to assist you in searching for the perfect home with Lease Purchase Finance.  Once you have identified your top three targets we will show you those three properties and help you negotiate the best one for you.
4. Negotiate: We will negotiate all of the many terms of a Lease Purchase Finance to get you the best overall deal.
5. Lease-Purchase: You will pay the due diligence fee to secure your purchase contract and lease the property for a period of time while we advise your credit repair (if necessary).
6. Mortgage Financing: At the end of your lease term you will be in a position to obtain mortgage financing.

Frequently Asked Questions

• What are the Components of Lease Purchase Finance? There are four negotiable variables to every Lease Purchase Finance deal: due diligence fee; purchase price; monthly rent and length of lease.  As you give more in one component you will be able to have more negotiating room in other components.
• What is an "Due Diligence Fee"? You pay a non-refundable fee to lock in your purchase price; 100% of your option fee is applied to the purchase price of the home if you exercise your purchase contract.
• Am I Obligated to Buy? Absolutely not!  That is one of the benefits of the due diligence fee is that it awards you the ability to walk away from the home at the end of your lease for any reason you want.  This can be a much better position to be in than someone who purchased with a mortgage and is stuck with that home even if the home price drops or if they have to relocate.
• Who Pays the Taxes and Insurance? The owner pays taxes and insurance until you convert your Lease Purchase Finance to a Mortgage (although we do recommend all buyer-tenants to get Renter's Insurance in the interim).
• Who Makes Repairs to the Property? The owner makes all repairs.
• Can I Make Improvements to the Property? Absolutely!  With the owner's permission you can make all sorts of improvements to the home to suit your needs and desires.