If you already know what you need in a deal then contact us . Otherwise you'll find some useful purchase info below.

Go to a bank, plunk down $20,000, $30,000, $40,000 or more to pay for the right to pay three times the purchase price of a home over 30 years. Does that sound dumb to you? It sounds dumb to me! But people do it all the time. Why? Because that’s what our grandparents and parents did all because the seller wants…

• All Cash Purchase - There’s an old saying: cash is king. Yup, everybody wants it. Cash. Moola. Long green. Anything else is risky. But cash is risky too – it can get lost, stolen or worse, invested in the stock market. I like cash, too, but property holds its value that’s why you could consider

• Exchange – Unlike a trade an exchange is a much more formal process; it’s mostly used by investors who don’t get the primary residence exemption when they sell a property. The 1031 exchange was set up to permit investors to delay paying taxes. How does this work for the buyer? Well, one aspect of an exchange is that a seller can exchange one property for multiple properties of lesser value as long as they are worth the same as or more than the property being exchanged. How does this help you, the buyer? Investors tend to be cut-and-dried folks who close quickly, so if you’re looking for a way to sell your home so you can buy a new one an investor can help you get that done without the hassle of open-houses and people traipsing through at their convenience and your inconvenience.

• Private Financing - Loan sharks?! Ohmigod, no!! Private financing is not loan sharking. Yes, you have to pay higher interest, but private financers look at the property that’s being purchased and determine whether they can recover their money if the buyer defaults. These guys are cut-and-dried, too. You’ll have to pay on time and at some point you’ll have go get bank financing (usually 5 years). On the plus side you’ll only have to pay interest making the monthly payments lower. On the minus side you’ll still be financing the original purchase price when you go to the bank. This is an option, but not the best one.
• Rent-to-Own – okay, with land contracts and lease options, why would you want to rent-to-own. You only have to make a security deposit which is usually one months rent versus the $5000-$10,000 option fee or the $20,000-$30,000 associated with the other two methods. A small part of your monthly rent will be credited towards the purchase. Note, however, that because of this credit your monthly payment will be a little higher. Then too, the security deposit comes back to you if you decide not to buy or gets credited to the purchase price if you do.

• Lease Option – like the seller, a lease option is a good deal for a buyer. Private financing is expensive and rent to own doesn’t give you much equity to apply towards a purchase. A lease option is a more serious commitment that gets you more respect, not only with the seller, but with the bank when you go apply for that conventional loan that I trashed so soundly above. But sooner or later you’ll need one and this makes it easier to come up with that big down payment. You do it while you’re living in the home you want, not in some little apartment with no room to turn around.
• Trade-Down – Living in a place that’s too big? Find someone that’s living in a place too small. Instead of selling outright arrange a lease option with that other person that puts money in your pocket.