Foreclosure Sale in Johnson County, KS

Lease Option Foreclosure in Kansas City

Homeowners can explore a lease option foreclosure in Kansas City through Cherry Park Properties LLC.  Other options include selling redemption rights in Kansas City that allow you, through paperwork and assistance, to remain in the residence through a lease or on a lease-with-option-to-buy.

Lease-with-option-to buy allows homeowners the opportunity to repurchase the property from the current owner at an agreed price during a grace period of three to five years. A redemption period is the time after a sheriff sale in Kansas City designated to grant you some rights.  For most properties, the period is six months, but every case can be different.

If you have paid more than two-thirds of your outstanding loan, the redemption period can be extended past the time frame.  The same holds true if the property is determined to be abandoned. Abandoned properties can have their time-period shortened as well.  During this time, you may continue to live at the house and gain the “right to repurchase” or sell the property. Learn more about your redemption rights in Kansas City in one of our articles found here.

What is Lease Option Foreclosure? 

Lease option foreclosure in Kansas City is becoming more common for homeowners and investors.  Lease option foreclosure enables people with a poor credit history or people without a down payment to purchase real estate.  Others may need time to arrange or secure financing for a purchase.

One appealing advantage of this program is that anyone can qualify, as it is not based on your credit score.  It is common for homeowners to do a lease option foreclosure when trying to fix credit issues and need additional time to get it cleaned up.  In some cases, rebuilding your credit by making timely lease payments can allow you to reapply for a traditional mortgage at the end of the lease option agreement.

This type of foreclosure is an advantage for homeowners during times of economic uncertainty.  They have peace of mind knowing that they are locking in their purchase price right away.  One potential perk is if the home value goes up during the next three years, they might end up with some good equity.

 

Advantages of Lease Option Foreclosure in Kansas City

  • Lock in the Price Now, Purchase Later 
  • Freedom to Save for Future Down Payment 
  • Avoid Moving Residence by Renting and Purchasing the Same House 
  • Possibility to Purchase Even if You Do Not Qualify for a Traditional Mortgage
  • Time to Resolve Credit Problems 

 

Years of Experience 

Our team at Cherry Park Properties, LLC, has over 40 years of experience with lease option foreclosure in Kansas City.  We are proud of the honest, quality work we do here every day.  At Cherry Park, we invest in Kansas City residential real estate and have experience dealing with various mortgage problems.  We also continue to be highly recognized by attorneys and mortgage companies in the area.

Cherry Park continues to be a leader in the real estate industry, providing options for financially challenged homeowners and lien holders. We strive to provide beneficial and profitable relationships while maintaining high ethical standards, sharing our knowledge, expertise, and opportunities with our clients in Kansas City.

 

Our Expertise 

There are many people and entities like Cherry Park Properties; however, not all have the experience needed to be successful.  We are a local, friendly real estate investment team focused on helping you and your family keep your home.  We specialize in lease option foreclosure, acquiring mortgages, and redemption rights in Kansas City.

We want to provide you with a hassle-free and pleasant experience, no matter what services we are providing.  Cherry Park Properties can arrange real opportunities on how to avoid foreclosure in Kansas City.  Contact us today at 913-839-2345 to discuss your choices when it comes to foreclosure help in Kansas City.

CONTACT US