Becton Properties, LLC

624 Holly Springs Rd.
Suite 336
Holly Springs, NC 27540-9030
Fax: 866-684-9309

Becton Properties, LLC

Providing affordably priced housing in Raleigh and Wake County, NC since 2001

Use Our Screening Process to make sure you qualify for tenancy.

Lease option with great terms in greater Raleigh, Wake County

Becton Properties, LLC offers some select properties with an option to buy. The option gives you the right, but not the obligation, to purchase property according to the favorable terms of the lease option agreement.

The purpose of the lease option is to provide tenants who want to own instead of rent the opportunity to become property owners. We provide a straight forward approach (see details here) to helping those tenants who want ot help themselves obtain the American dream of home ownership. Call us for the latest list of property available for lease option.

Available Properties

Becton Properties, LLC and its marketing affiliates currently have the following North Carolina Lease Option property available.

Property Address City Option sale price Standard lease price Option fee Option payment due
Girder Court Fuquay Varina Sold Sold Sold  
Fountain Springs Road Holly Springs Sold Sold Sold  
Sandy Run Knightdale Sold Sold Sold  
Haverty Drive Raleigh Sold Sold Sold  
Pennfine Drive Raleigh Leased Leased Leased Leased
Fanny Brown Rd   Raleigh Leased Leased Leased Leased
Pine Ridge Dr. Raleigh Sold   Sold Sold  
Choptank Ct. Cary Sold   Sold Sold  

Provisions of our Lease Option

Our Lease Option agreement policy provides full details on how we operate and what we offer. We have summarized the details here for your convenience. Each of our Lease Option agreements follows the general guidelines below. Although the amounts in each agreement will differ, the structure and format of our agreements will contain the following provisions:

  • Pricing up front at market value or better (not inflated)
  • Standard leases at market rate or better (no mark-ups for lease/option)
  • Low Option fee between 2-4% of exercise price
  • Low Option fee may be payable over several months (not all due up front)
  • Exercise of option can be over a flexible period (e.g. 1 year with right to renew)
  • All agreements fully documented
  • Assignment of agreement Ok with fee
  • Sub-lease may be Ok with up-front written notification and additional security deposit (Note: this is generally for investors)

  • Summary of Lease Option benefits

    When crafted correctly, a Lease Option agreement provides a "win-win" for the tenant and landlord. A good Lease Option agreement can provide the option holder with several considerable inherent benefits, including:

    Option holder can control property

    A Lease Option agreement allows the option holder to control property because it is an exclusive agreement. In an appreciating real estate market, option holders may realize gains relative to the option cost involved. In a flat market, like we have seen for the past few years in Wake County, the option holder can be assured of a fixed price up front and an exclusive right to buy. If you like the property, then exercise the option and buy! In a declining market (and yes, this has happened to some communities in Raleigh over the last few years) you can just let your option expire.

    Try Before You Buy

    For those individuals who want time to "check out" their property for a few months (or longer,) a Lease Option agreement may be more advantageous than an outright Purchase. An option holder can live in the property for some time before committing to a purchase contract. If the option holder does not want to exercise the option, the loss is limited to the option fee. This may be a small price to pay for the piece of mind of knowing that their real estate selection is the right choice.

    Ability to finance at some time in the future

    Probably one of the strongest benefits of a Lease Option agreement is time. Many people need time to get their financial house in order. Delaying the financing of a real estate purchase but locking in at today's prices may be a perfect solution.

    No relocation

    Since the lease and the option parts of a Lease Option agreement apply to the same property, the option holder can move into "home" from day one. There is no need to move after the option exercise or the final closing.

    Becton Properties knows the right way to structure a Lease Option agreement

    Our Lease Option provides a great way for a tenant to achieve home ownership of a great property on good terms.

    Summary of Lease Option liabilities (the downside)

    Lease Option has some very significant downsides. If you can think of other items, call or send us an email and let us know so we can list them.

    Option holder decides not to exercise

    If the option holder decides not to exercise the option, the option fee essentially becomes "wasted" money. We want you to think carefully before committing to a Lease Option, that is why we provide time between when you sign the lease and when the option fee is due. Note that in a flat market, like we have seen for the past few years in Wake County, or in a "down market" where real estate prices are falling, it may make economic sense to let your option expire.

    Option holder can't exercise

    Sometimes an option holder can't exercise a Lease Option because of financial hardship or other issues. The issue is that the option holder may have either over estimated the likelihood of being able to exercise the option or may have experienced a "life-event" that negatively impacted that likelihood of being able to exercise the option. In either event, the option holder will lose the fee paid for the option if the option expires.

    Option holder can't find an option buyer

    In the case when an option holder is able but not willing to exercise the option, and the option is "in the money", there is no guarantee that the option holder will be able to sell the option.

    Option holder does not benefit from tax advantages

    Until the option holder owns the property the option holder is a lessor, not an owner. The option holder does not benefit from ownership, but does not pay property taxes, etc., either.

    Option holder is subject to the mortgage market and rate risk

    As identified above under Option holder can't exercise, an option holder may find that the cost of ownership is not as expected due to financial market forces. Rates for borrowing money go up and down and will directly impact the option holder's monthly mortgage payment.