Real Estate Reference How to Buy a House with No Credit
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  by Caterina Christakos

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  learn how to buy a home without a credit check

How to Buy a House with No Credit

Many people buy a house then have to move within a few years, due to divorce, relocation or financial difficulties. Without any equity though, it can be nearly impossible to find buyers and they still have realtor fees to contend with. Now there is a way to offer these people a way out and obtain a beautiful house for yourself, without a credit check.

Many Homeowners are not aware that they can sell their homes by lease option. That is where your knowledge can be of benefit.

What is a lease option?

A lease option is the right to buy a home at a predetermined price within a fixed period of time. An initial deposit is usually made of a few thousand dollars and monthly payments are usually applied to the purchase of your home. You can convince a buyer to lease option their house to you by educating them on the benefits to both you and them.

What are the benefits to them of selling their house to you by lease option?

They are guaranteed that you will buy the house at a predetermined price within a specified period of time and they have their payments taken care of each month. Plus they retain the tax benefits of hoe ownership.

Q What are the advantages of buying a home by lease option?

When they lease option their house to you, they sell the right to purchase their home at a set price within a predetermined period of time. During that time, you, the purchaser of the lease option, pay a set monthly fee. Instead of wasting your money on rent you can purchase their house within a certain period of time and have part of the monthly fee applied to your final purchase price.
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