Gen Information
Accommodations
Inns
Hotels
Resorts
Pet Friendly Hotels
Bed and Breakfasts
Vacation Rentals  
Weddings
Planners

Venues
Photographers
Caterers

Real Estate

Agents and
Realtors

Fishing

Flats Fishing
Sportfishing

Light Tackle Fishing
Party Boat Fishing
Scuba Diving
Dolphin Tours
Snorkeling
Kayaking and
Eco Tours

Sailing and
Sunset Cruises

Camping and
RV Parks

Marinas
Dry Tortugas Trips
Tours offered
around Key West

Parasailing
Rentals for
Boats
Jet Ski and
Waverunners

Bike

Scooter
Electric Car
Beaches

Nice Tips to Do
Art Galleries
Art and Crafts
Restaurants
 Mixed 
Seafood 
Steak
Breakfast   
American 
Cuban
Italian  
Caribbean 
Bars

Shops
Museums
Gardens

Theaters
Events
Area Parks
Tattoos
Adult Entertainment




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By Clyde Powell

Key West Real Estate Investing Lease Options   Key West Bed and Breakfasts

Questions and Answers for those looking to Buy or Sell
Investing in Real Estate

Lease Options

Q: What is a lease option?

A: When a renter signs a lease with an option to purchase the property for a specific price within a certain time frame, that is called a lease option. In most lease-option situations, a portion of the rent is applied to a future down payment.

Lease options are most popular among buyers who don't have enough funds for a down payment and closing costs.

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Q: Where do I get information on lease options?

A: Key West  For information on lease options, "How Lease Options Benefit Realty Buyers, Sellers, Agents and Investors" is available for from Tribune Media Services, 435 N Michigan #1500, Chicago IL 60611. 1-800-245-6536,or "Publication House", Burlingram CA. 1-800-736-1736

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Q: How do lease options work and what are the benefits?

A: Most lease-option agreements specify that a portion of the rent on the property in question is applied toward the purchase if the option is exercised. This is referred to as rent credit. Institutional lenders accept rent credits as part of the down payment if rental payments exceed the market rent and if a valid lease-purchase agreement is in effect, a copy of which must be attached to the loan application.

For sellers, lease options give them several advantages, especially in a slow market. These include a monthly rent higher than market rent, top-market value for the property and tax-free use of the option consideration until the option expires or is exercised. Also, the renter is more likely to treat the property like an owner, tax-free use of option consideration until the option expires or is exercised.

Key West Real Estate  Lease-options should be read carefully for details on transferring the option and other important concerns.

For more information, get a copy of "How Lease- Options Benefit Realty Buyers, Sellers, Agents and Investors," available for $4 from Tribune Media Services, 64 E. Concord St., Orlando, FL 32801.

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Copyright 1999 Inman News Features


 

Clyde's Key West Real Estate
Key West Real Estate