Lease Purchases in St. Louis
Lease Purchases in St. Louis
Lease Purchases in St. Louis
Lease Purchases in St. Louis
Lease Purchases in St. Louis
Lease Purchases in St. Louis

Common Questions

Here are some common questions that people normally ask us, if you don't see the question you have or need a more in depth answer please feel free to contact us directly.

Question: Why don't you post all of the lease purchase homes on your website so I can drive by them to see which home I like?
Answer: We have in the past, but we found that process to be a waste of your valuable time, because lease purchase homes are categorized into different categories according to how long the seller is willing to lease the home before you purchase. For example, you may be a client that needs a 24 month lease, because of your current credit situation, and the home you may want to "drive by" may only be available for a six month lease purchase.

Question: How do I qualify for a lease purchase home?
Answer: You set an appointment to come into our office and bring your income docs ( normally your last pay-stub and last w2 form you have) we will then qualify you on your income just like you were going to buy a home today, we will determine the exact amount of home you can afford to buy based upon your debt to income ratio and the amount of monthly payment you want to stay around. Next we will pull your credit so that we can determine how long of a lease you will need. We will work with you no matter what you credit situation is, although your credit will tell us how long we should make the lease so that you will have plenty of time to address any credit issues you may have and so that you can re-establish some positive trade lines.

Question: How long does the process take?
Answer: From start to finish most clients can move into their new home in about 2- 3 weeks. We've had a few clients that have moved in 3 - 5 days but 2-3 weeks is probably the norm.

Question: How much money will I need in order to move into my new home?
Answer: You will need at least your first and last months rent to move in, sometimes it may be more and sometimes it's even a little less. (Example) if you move in the middle of the month your rent is normally pro-rated. Every house is different and deposits will vary.

Question: I lost a home due to foreclosure, can I still qualify?
Answer: Yes. Although you are going to need a little longer lease, normally 2 to 3 yrs. We have helped many other families in your same situation.

Question: Is there a fee for the lease purchase program?
Answer: Yes. You will pay $250 to hire R.P. Murphy as your REALTOR, he will not charge any additional fees in working with you on your credit.

Question: I think I just want to rent for now, do you have homes for rent only?
Answer: Sorry we can't help you, we do lease purchases and or sell homes.

Question: What area are your homes located in?
Answer: Literally all areas! There are hundreds of lease purchase homes in all areas and all price ranges. Where ever you want to live chances are there is a home available for you.

Question: Why should I use a REALTOR to get my lease purchase home?
Answer: You need a licensed professional working for you and advising you. There are many potential pit falls in trying to work without an agent. Would you know when or if to have the home inspected? How about making sure the person you are renting from is actually the owner of the property? What happens if the owner does not make the mortgage payments? The bottom line is that you really need someone who is familiar with the process and can guide you step by step and most importantly, has your best interest in mind.

Lease Purchases in Saint Louis
Copyright Murphy Home Solutions - All rights reserved.