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Using A Lease Option To Sell Your House in Kansas City

Choosing the right exit strategy when selling your property can have a significant impact on maximizing your real estate investment returns. A highly profitable option to consider instead of a traditional sale is lease options, providing an opportunity to secure a higher return on the property sale. Typically lasting one to three years, at the end of the agreement, the tenant has the choice to purchase the property or opt out, while you retain the initial option fee received upfront as a down payment.

When it comes to renting out your property, think of lease option tenants as more than just renters. They are essentially test-driving ownership of the property, making a commitment beyond typical tenants. These individuals are willing to pay a premium for the opportunity to experience homeownership while rectifying any credit issues or saving for a down payment. By selecting the right tenants and establishing a well-crafted lease option agreement, many investors discover the advantages of this setup and start incorporating a lease option strategy into their investment approach. Dive into the world of using a lease option to sell your rental property in Kansas City.

Asking Price

Take control of your property sale by setting the sales price with a lease option in Kansas City. Price it above market value to anticipate appreciation during the contract term. While you bear the risk of sudden value spikes, the tenant assumes the risk of potential value decreases.

Option Fee

By utilizing a lease option to sell your property in Kansas City, you have the opportunity to gather an initial option fee that usually ranges from one to five percent of the sales price. It is worth noting that option fees as high as twenty percent are not uncommon, and the fee itself is generally non-refundable. Considering that the national median listing price for active properties is approximately $450,000 as of May 2022, a 5 percent fee would amount to $22,500. This sum would then be credited towards the purchase should the tenant decide to exercise the option.

Ensure Your Tenants Maintain Your Property

When utilizing a lease option to sell your house in Kansas City, the tenant will assume most responsibilities, including maintenance and repairs. As the seller, you will retain the title and remain accountable for taxes and insurance.

High Rental Prices in Kansas City

Unlock above-average rental income potential in Kansas City by exploring a lease option to sell your house. The rent premium, representing the portion of rent paid at above-average rates, becomes a valuable asset. Buyers have the opportunity to deduct the accumulated rental premium from the sales price upon exercising the option. And in the scenario where no purchase occurs, these funds remain with you, the homeowner.

Connect with one of our experienced home buyers in Kansas City, MO at Faithful Home Buyers KC LLC today to discuss your property with no strings attached. At Faithful Home Buyers KC LLC, our goal is to ensure you get the best deal and feel confident about choosing us long after the transaction. That’s why we offer to compare the outcomes of a traditional listing versus the lease option approach, and even present a cash offer to purchase your property as-is. We believe in full transparency at Faithful Home Buyers KC LLC, breaking down the numbers in our assessments so you can make an informed choice on the ideal way to sell your Kansas City home.

Discover the mutually beneficial advantages for sellers when opting for a lease option to sell your property in Kansas City. Interested in learning more? Contact Faithful Home Buyers KC LLC at 816-237-0869.

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