Lease To Own Condos New York City
In considering buying a condo in any of New York City's 5 boroughs, some prospective condo buyers will choose the "lease to own" option, so they can see how living in New York City is for them, before committing to outright to buying a condo. Lease to own is a lease stipulated with the option to buy the condo for an agreed upon price between buyer and condo seller, within a specified period of time as dictated in the lease to own condos New York City agreement. Interest in lease to own option is an opportunity to condo ownership when available down payment funds aren't sufficient enough or there is time in need to repair a poor credit rating. Depending on the negotiation and agreement between condo seller and prospective buyer, the period for a lease to own condo agreement can be anywhere from 6 to 18 months. The condo owner may prefer a shorter amount of time. This will benefit the buyer because the buyer will then be out of that lease (rent) period and become condo owner much sooner, providing their monetary situation is good and they repaired their credit rating.
A possible problem with a lease to own condos New York City program, besides not having the down payment up-front, is poor or challenged credit due to any of these situations: delinquent payments on a few accounts, late payments, collections, medical bills, bankruptcy, foreclosure, not enough of a credit history to be considered viable.
A few questions asked about a lease to own condos New York City agreement includes the responsibility of paying taxes and condo association fees (usually paid for by the seller); any condo repairs and maintenance (to be negotiated between buyer and seller).
If you are interested in one day being a condo owner in New York City or its suburbs, and require assistance regarding your credit status, HalosList will help you with your lease to own condos New York City, and you may find yourself a condo owner in a quicker period of time.