At Vankero we understand that unforeseen circumstances can unexpectedly arise and become extremely stressful in a short amount of time. We offer our homeowners and landlords Lease Option Agreements for when those inconvenient situations occur.
The concept of the option is well-known in the financial world, and can be applied to shares, land or property. Having an option gives the holder the right to buy or sell something at an agreed price after an agreed period. The holder usually pays a premium to be granted this right but is not obliged to exercise it.
At the start of the agreement we will discuss the purchase price for the option to buy the property during or at the end of the agreement. Together, we will agree a length of time to exercise the agreement and we will pay a fee upfront for providing us with the option, known as the consideration. Our Lease Option Agreements allow you to receive a monthly income to cover the mortgage repayments and any other costs involved whilst having minimal involvement in the property.