| 1- Individuals who
attempt to buy homes on a lease-purchase (lease-option)
rarely end up buying the home. This often has to do
with the reason they try to buy on a lease-option.
They usually cannot qualify for a home loan and expect that
they will be able to qualify after a period of time.
Later, they find they still cannot qualify - whether it is
because of poor credit, lack of income (document-able
income), or lack of savings to have a large enough down
payment.
If this happens, you lose any
option money you might have paid up front or as part of your
monthly payment.
2- Protecting
your option. What if your landlord/seller disappears, dies,
or decides they don't want to sell? A good Lease Purchase
course will teach you how to protect your option.
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