Lease purchase in Real Estate @ Proxima Investors differs from the "traditional" Rent-To-Own as a method of property use, purchase and sale. Typically starting with a downpayment towards the final purchase price of a property to be completed by a preagreed date, it has a period of occupancy, variable in length but usually ranging from 12 to 48 months, similar to a lease, but with an enjoyment comparable to that of a full owner. It fully executes with the formal transfer of ownership at the end of the lease period and upon cumulative payment of the whole final agreed price.
Lease purchasing is growing in the US as an alternative method of both selling and buying real estate property.
These deals come in a variety of names as Rent to Own, Rent to Buy, Rent to Purchase, Lease-Option, Lease with Option to Purchase, Lease-Buy and others, but at Proxima Investors we prefer to call it Lease-Purchase.
Every investor has a different interpretation and business model; neither the legal system or any association or body has a formal definition, so the deals offered and made by lease-purchase investors can eb very different
and they don't all fulfill the requirements of sellers and buyers in the same way and to the full extent. For this reason all offers and contracts should be carefully scrutinized for practical, legal and ethical differences.
Even the deals of this type that we make do not have a standard format. Every deal is different and unique; we customize each deal based on the needs and wishes of our sellers and our buyers,
We also take into account the peculiarities of properties and locations and adapt the deal to the uniqueness of every situation. We never made two identical deals in years, now.
Every party involved wins if it's done properly from start to finish. With so many parts of a lease-purchase contract that can be tweaked adapted to the parties and their specific situation, the transaction can be engineered
so that it satisfies a most motivated sellers and qualified buyers. In fact, most home sellers could sell to us with benefits that could not be enjoyed in an ordinary transaction. The main downside, because there is always one,
is that these less known deals, require the effort to understand them and strategize accordingly; unlike prepackaged ordinary Purchase and Sales, there are many more variables to work with and almost every aspect of the deals can be
adjusted, albeit within the limits of the law. Still, this type of deals does not work for every seller, buyer or property, but it provides the best value in most situations by far, if competently set up.
If we find solutions for motivated home sellers, but also for eager buyers: If owning a home is part of the American Dream, for some it will be only a dream, until we show and guide them on the path of ownership!