Ancient Idea Gives Option To Sell Your Home Fast

March 28, 2009 - PRLog -- News stories about the slow housing market are getting old, but a solution for sellers actually dates back nearly 800 years.

The solution is based on the ancient idea called an option. Options have been in use in real estate for a long time.  In Westminster Abbey’s Monk’s Library there is evidence dating from the year 1223 A.D. of a man who optioned his farm for money to pay off a debt.

Today, options can be used to help sellers sell and want-to-be buyers buy. One local company is using this 800 year old idea to help sellers and buyers in this challenging market. Many people have heard of rent-to-own or lease with option to buy, but few understand how it can help them in a down housing market.

Real estate agents are currently working with buyers who have “A” credit to buy up the oversupply of housing stock.  This group of buyers represents only 35% of the market that would like to own a home of their own.  There is a much larger group of potential buyers who can’t qualify for financing because they don’t have “A” credit.

During the past “seller’s market” when sub-prime lenders were giving loans to anyone who could fog a mirror, David Holt, Broker-President of R.P. Management, Inc., a Twin Cities property management company which specializes in single family homes, could only watch as his tenants left their rental homes and bought one of their own.  Now, with the sub-prime lending market virtually gone, this large group of potential buyers have stopped buying.  Sellers are calling on property management companies to rent out the houses.  R.P. Management, Inc., has set up a program to help sellers get out of their current housing situation while helping tenants get into a home of their own.

With lease options, sellers can solve their short-term needs and take advantage of this large group of buyers.  Holt and his company work with the tenant/buyers through credit repair and down payment assistance to get them qualified to buy. Everyone wins!

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R P Management, Inc., is a certified residential management company in the Minneapolis/St Paul, MN area. What we do is provide options for home owners looking for a solution to this challenging market with professional property manager, lease options and other creative ways to sell your house or to maximize your home as an investment property. At R P Management, Inc., we provide tons of home rentals for tenants
who earn credit while renting from us. The difference is in the management. For more information call 612-379-7890 or visit www.rpmgmt.com