If you own your property fully and your tenant wants to purchase it over time, you can do a lease purchase agreement in which you have negotiated the purchase amount, determined the lease payments which are more than the current rent payments of which a portion of it will be applied toward the purchase price and a term in which they will complete the sale. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know this is also usually down with additional option consideration monies, made non-refundable and applied toward the purchase price. This provides, for a period of time, in which you will still receive rent payments but with the raised monthly payments it will accrue the necessary down payment for your tenant to obtain financing from a lender. Check out below to see what sold in Stonewater in November 2015:
18627 Marble Head Drive, Northville: 4 bedrooms, 3.2 bathrooms, 3,802 sq. feet, 3 car garage, Sold Price: $750,000
Stonewater Home Sold
Another option is for seller financing with either a contract for deed or a trust indenture. For more information on Stonewater, or similar Northville or Novi neighborhoods such as Woods of Edenderry, Turnberry Estates and Maybury Park Estates, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.