What are the advantages of buying a property of a property with a lease option?
• Only the seller’s approval required at this time-No bank or finance approval is required until you decide you want to get finance to buy property. • Purchase price will not change. The purchase price is fixed when the contract is signed and cannot be changed regardless of any change in the value of the property. • Short exchange. You don’t need to wait on bank or finance approval. • Try Before You Buy. If you are unsure you really want to buy or are unsure that this is the best house or suburb for you, you can change your mind about buying. You will lose the non-refundable option fee, but you haven’t paid out thousands of dollars in the Stamp Duty and the loan repayments. • Buy at your leisure. The purchaser may buy the house at any time during the term of the contract. • Establish a good credit rating. If you are unable to currently get bank or other housing finance, proof of regular rent and option fee repayments over several years may help to establish a good credit rating, which
