146 Canon

Jill, Unlike a mortgage, you qualify for any lease purchase a seller is willing to enter into with you. There are no rules governing a lease purchase. I can tell you, however, that very few lease purchases ever come together for the buyer...usually the seller ends up with the earnest money, the extra rent and the house back. This happens because the agreement was not written properly for the buyer to ever refinance out of the option period. If you do decide to enter into a lease purchase, do so under the guidance of a real estate attorney. The fee is worth every penny to ensure you actually have a chance of really owning the home.I am curious why you want to do a lease purchase in lieu of buying. Is it a qualification issue? Have you talked with a lender? I am in San Diego, but know your area well (lived in Danville until late 2008). Feel free to contact me if I can answer any questions for you.