Re: Matt B, Lori S, Alex G-Question for you - Posted by Matt B
Posted by Matt B on June 17, 2001 at 20:28:35:
When I started tracking this particular statistic, I noticed that about 40% of my tenant/buyers were exercising their option. That didn’t seem too great to me, so I started working a little closer with my tenant/buyers to help them get financed.
I worked with my tenant/buyers to help get their credit cleaned up. I wrote up a “Credit Repair Pamphlet” based on a couple of other credit repair kits that I had seen and gave it to every new tenant/buyer of mine. I worked more closely with my mortgage broker to see who was most qualified to buy the house. That percentage has been rising for me now.
I have had a lease option go as long as 18 months before. I will extend the lease option if the tenant/buyer has been paying on time, has kept their credit clean, and has taken care of the property.