Murphy's simple 3 step lease purchase process
Step #1
The first step is to find out what area you want to live in, how many bedrooms and bathrooms you need, and what kind of monthly payment you can afford. This can normally be done in a 5- 10 minute phone conversation or a quick zoom meeting. I will set up a search and email you available properties. Call or text me at 314 583 4459 to set a phone and or zoom consultation.
Step # 2
The 2nd step is to sign your REALTOR'S Buyers representation contract. This contract allows me to be your Buyer's Agent, it allows me to legally represent you in the transaction, and it acknowledges that I will be representing your best interests. My upfront fee is $495, this covers my cost of working with you as I am not paid the majority of the commission until you purchase the home at the end of the lease.
Step #3
Determining Sales Price & Length of Lease
Let's determine your target sales price based on the monthly mortgage you can afford and based on your debt to income ratio. Together we will figure out how long of a lease purchase to set you up for. The less time you need the shorter of a lease term we will set up. For example; a client that needs to raise their credit score by 10 to 15 points may only need a 3 to 6 month lease purchase contract. On the other hand, a client that has more challenges will do a 2 or 3 year lease term. The good news is that since you do not have to qualify for the mortgage upfront, no one is turned down from our program, you just need time to overcome whatever obstacle is keeping you from buying right now!!
Meet STL's #1 Lease Purchase Agent
R.P. Murphy License # 2006024672
R.P. Murphy ( Riu ) has been a licensed REALTOR since 2006. I started doing lease purchase transactions in 2008 during the subprime mortgage crisis. I have helped over 1000 families get their dream home, you can be next!!