What You Need to Know About a Lease Option Home Purchase

movingA lease option is a type of arrangement where you get to buy a home at a future date after you spend a set period of time leasing it. The price of the property will be set at the time you sign the agreement for the lease option.

These are great options during slow real estate markets. They are beneficial for buyers who have little or no credit to show on paper aside from a prior rental history.

The cost of a lease in a lease option could be higher than an ordinary rental. This is because the agreement sometimes specifies that a higher sum is paid each month so that a set amount can be applied to the future down payment.

Where To Find Rent To Own Homes

Probably the biggest question most people have about rent to own properties is where to find them and how to negotiate them. While we can’t get into all of the details in this post, we do think there are some great options for you.

Check out the following for some popular Mid-Atlantic cities:

Risks of Lease Option Agreements

If you do enter a lease option, you could run into the problem of being unable to qualify for a home loan at the time you can exercise your option to buy it. This could be the case if you do not have an option agreement that allows you to save money from excess lease payments that can go toward a down payment.

If you cannot qualify for a loan at the time the option comes due, you forfeit any money you have put towards the purchase.

Benefits of Lease Option Agreements

For sellers, they can find a qualified buyer depending on how they screen their tenants before entering into the option agreement. They can also avoid the risks that accompany the property if it were to sit on the market vacant.

For renters, if you can set a reasonable option fee which might be up to 5 percent of the purchase price, you could end up with a home you love that you have already put a significant amount of money towards the ownership of. You can have a better chance of qualifying for a mortgage, too, if you check with a broker before you enter into a lease option.

Be sure that you understand that once you do own the home you have to pay not just for the mortgage but also for taxes, insurance and repairs. These are expenses most former renters are not accustomed to being responsible fo. As long as you can plan ahead for these added expenses, you can easily make your dream of owning a home come true with a lease option.

Tips for Picking Out a Roofer or Roofing Company

Things To Look Out In A Roof Repairer

The roof is undoubtedly one of the most crucial parts of any building. I surely cannot even imagine how a building can exist without a roof. Due to this importance of the roof, it is equally important to ensure that it is in good condition. There are several damages that the roof is vulnerable to from time to time, and they should be repaired promptly so that they cannot get worse and make you incur more costs.

The people who handle the roof are the roof repairing firms and experts. In Virginia, there are several such people and firms who can repair your roof when the need arises. It is however very important to ensure you choose the best one for you if you want to get your repairs done efficiently. Not every repairer will get the job done well, so you need to be very careful in your selection. There are several things that you need to look out for in a roof repairer when determining the best one for you.

One thing that you need to look out for in a roof repairer is the quality of the repairs done. There are several ways this can be done, and the most effective way of doing this is by checking out the previous work done by the repairer. Most roof repairers have pictures of some of their works, and you should look at them and determine if the quality at stake is good for you or not. If you happen to know a few people whose roofs have been serviced by the roof repairer, go ahead and ask them about the quality of the work done.

roofing company

The second thing you need to look out for in a roof repairing firm is the price charged. Before we go ahead and look at more about the price, you should note that in most cases, the prices charged are related to the quality at stake. You should go for the roof repairers that charge favorable prices for their services. You should avoid going for the cheapest ones as well since cheap prices mostly translate to cheap quality. It is, therefore, advisable that you get a roof repairer whose price and quality strike a favorable balance.

The third thing you need to look out in a roof repairer is the flexibility and diversity. Different people have different roof repairing needs, and a flexible roof repairer should be willing to adjust his terms and packages to suit your specific needs. They should also be able to handle a good number of roof repairing problems. This will save you on the hassle of finding a different roof repairing firm for each roof problem which is very costly and time wasting.

If you find a roof repairing firm that is favorable in the above aspects, there is no doubt that they are the suitable one for you. You roof should be in perfect condition and only the best roof repairing firm can be able to guarantee that.

3 Tips To Keep In Mind When Moving Appliances

For most people, their appliances, and especially their large appliances like washing machines, refrigerators, etc, are one of the last things they think about when it’s time for a move.

When it’s time to finally move that fridge or dryer, there are a few things you want to keep in mind.

moving a refrigerator

Appliances Should Be Moved First

Large appliances take up space. That means that in an ideal world you’ll plan your move ahead of time and actually prepare to move many of your largest pieces first. That will help you secure them in the truck, as well as place them easily into your new space, without needing to “work around” all those smaller items (like side tables, boxes, or chairs) that tend to clutter up the floor during the moving process.

Don’t Forget To Unplug 48 Hours in Advance

Another tip is to make sure that you unplug the appliance at least 24 hours in advance. When dealing with freezers, for example, this time allows it to defrost and drain all of the water.

The last thing you want when moving day comes is to have your newly boxed or shrink-wrapped appliance leaking water as the ice melts out of the sides!

Clean Before You Use

Finally, it’s extremely important that you thoroughly clean every single appliance well before your first use after a move.

Regardless of whether it’s a washing machine or a fridge, the appliance is likely to collect a lot of dirt and grime during the process of getting moved, and usually it’s a lot easier to clean them when they aren’t fully connected and working.

That means you should take advantage of the move to thoroughly go through each appliance and make it as clean as new!