1227 Ridgewood Dr, Lindsay Ok
Buy or Rent to Own!
3 Bed, 1.1 Bath, 1 Car Garage, 1280 Sqft.
Enjoy the sunrise with this hilltop panoramic view, New Countertops, Fresh paint and flooring, clean and well kept throughout, updated vinyl windows, new HVAC in 2015, french doors to patio, inside utility, alley access in backyard, storm doors, new fixtures, guttering, mature landscape, gas range, water heater and furnace. Established Neighborhood, Ready for your Family!
Lease with Option to Buy (Rent to Own)
Leasing with an option to purchase is an excellent method to move from renting a home to being an owner. It offers many advantages over the traditional methods of purchasing a home.
No large down payment required. Instead, you pay an amount up-front called “option consideration.” This amount, generally about 3-5% of the purchase price, locks in the price during the term and gives you the exclusive legal right to purchase the property. However, you are not required to purchase. If you exercise the option, the option consideration is applied toward the purchase price. If you do not exercise, it is not refundable. This compensates the investor/owner for keeping the property off the market during the term and for locking in a purchase price, regardless of whether home values increase.
Profit from any appreciation during the term.
Time to check out the home and neighborhood before buying.
In addition, when you decide to exercise your purchase option. We work with many different lenders, so we can work with you to help you build your credit over the term and obtain the best financing for the best terms.
Allows time to save additional money for down payment, fix credit problems, etc.
No taxes to pay during your lease term!
Quick move-in time. No lengthy waits to arrange closing. Look today, move in tomorrow!
A FEW COMMON QUESTIONS AND ANSWERS
Q: Why should I pay option consideration when I can just rent by paying a security deposit and get it back when I move?
A: When you rent, your rent money is not working for you; it just disappears month after month. The option consideration allows you to move toward home ownership while still keeping your payments affordable.
Q: What if I decide I don’t want to buy the property?
A: You are not required to exercise the purchase option; however, the option consideration is NOT REFUNDABLE should you decide not to buy.
Q: What if I need more time before buying at the end of the term?be renegotiated.
A: In certain cases, it might be possible to renew the lease for another term. This would require payment of additional option consideration, and could require that the purchase price
Q: What about utilities, property taxes and homeowner’s insurance?
A: All utilities are the responsibility of the tenant/buyer. Until you purchase, all taxes are paid by the seller. In addition, we will maintain insurance on the structure and grounds, but you should consider obtaining renter’s insurance to protect the contents.
Q: What about maintenance?
A: The tenant/buyer is generally responsible for up keeping and repairs for the first $500
Q: Where can I get more information?
A: If you have additional questions not answered here, please feel free to contact me at the numbers above.
1227 Ridgewood Lease/Rent to Own terms are as follows:
$850.00 per month rent, $850.00 Deposit, $4200 Option consideration which goes toward your purchase when you buy but is non-refundable if you do not. 36 Month Lease. You can exercise your option to buy at any time after day one of the lease term. Total move in costs = $5900.00
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