Re: Hmm…so i’m sitting here working on my - Posted by Dave T
Posted by Dave T on October 24, 2000 at 09:34:06:
Lease option programs work because the buyer gets into a house with little money down, is given an opportunity to build rent credit toward a purchase price reduction, and the sale price is locked in until the option is exercised. If the buyer decides that the house is really not for them, then the buyer only forfeits a small option consideration without the hassle of trying to sell a house.
Lease option programs especially appeal to borrowers with credit issues that may be resolved within one or two years. They are able to get into a home now, and lock in their purchase price, while their credit is being rehabilitated.
Lease option programs appeal to renters who may be first time home buyers. The lease option period gives the future home owner the security of “just renting” while getting used to the experience of homeownership.
I am sure that there are other excellent reasons why the lease option program is successful, but these come quickly to mind.
Additionally, if you decide to use the action-reaction statement, you should attribute it to Newton’s Laws of Motion – not Einstein’s Theory of Relativity.