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Agent Recommends Lease Purchase

I’ve been researching this with poor results, so I thought I’d ask about it here to learn the questions I should be asking. I appreciate any help you can offer:

1) We have a home that is listed for 650k based on the agent’s advice. That seems about right looking at the other houses in the area.

2) At that price, we have about $275,000 of equity.

3) We have lived in the home for over the five years, but moved out in June to pursue a new job.

4) Our agent presented a buyer who she says is having difficulty pursuing financing because they have taken a new job and cannot show 12 months of income in the new job. They are moving to the area and don’t want to move twice.

5) She says they have made this offer and says that she’s done this type of deal before: they get a letter showing the lender will fund the mortgage in January when the income history reaches 12 months, they agree to full asking, they rent the home for the 4 months at a rate that sounds a little high to me, they agree to purchase on Jan. 10, they put 10K in escrow if the deal falls through for any reason.

Like I said, our agent acts like this is normal. I’ve never heard of this. What questions should I ask? Does this affect capital gains exclusions?

Any insights are appreciated.

submitted by /u/TheKenningMaster
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source https://www.reddit.com/r/RealEstate/comments/1n0g5ff/agent_recommends_lease_purchase/

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