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.

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 can realize substantial returns 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.

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.