If You're Looking For Real Estate in Tulsa OK, Davenport Company Is Your Answer!

Lease Purchase Option -Tulsa

Lease with option has it's pitfalls, however can be a great alternative to selling your home.  In this economy there are many people that will not qualify for a traditional mortgage for one reason or another.  Many times it's not because they don't pay their bills.  It may have to do with how they declare their income.  For example, someone that is self employed may have perfect credit, however on their tax returns deduct all of their expenses to lower their taxability.  Traditional mortgage mandate that 2 years of tax returns with sufficient income be required.  Income is calculated from gross income for a W-2 employee and Net income for someone that is self employed.  So you can see how they may become disqualified very easily.  This would be a great person to sell your home too, however?

In order to do this successfully you'll need to require a down payment.  Don't skip this step to rush to get them into contract.  3-5% is always suggest to make sure they take care and conduct themselves appropriately.  The fear of loss is always greater than the fear of gain.  

Payments need to be in line.  Just because they can't buy through traditional means doesn’t mean they are desperate.  Many sellers have a strategy to charge a high rate, down payment and hope to get the home back due to default.  Good buyers watch out for this.  It's like the most recent mortgage crisis, it may work for the short term, but it rarely works out.  Most lease purchase options I see or write have a short term period the buyer has to obtain their own permanent financing.  How do you expect this to happen if you are taking advantage upfront and during the process.  Most of the time they don't get the financing needed because they don't have funds to document ability to pay.  So if you want to sell your home and move down the road be careful.  If you're willing to keep it for a long period of time, then I guess none of this matters. 

If you need more information please give me a call.  For buyers reading this I have a list of homes that are willing to carry.

Hwy 169  106Th Street Owasso, OK 74055

Hwy 169 106Th Street
Owasso, OK 74055

MLS# 1409271 /
57.50 acres, type: Commercial Lot, mineral rights: None
land desc: Corner Lot

Prime location! adjacent to the new tcc which is to be completed by spring 2013. corner of hwy 169 & 106th (e of hwy 169) commercial potential. pro... 

$12,500,000 Land
Provided courtesy of Karen Wells of Keller Williams Realty
  193Rd Street Catoosa, OK 74015

193Rd Street
Catoosa, OK 74015

MLS# 1403406 /
18.03 acres, type: Over 5 Acres, mineral rights: Included
land desc: Farm Or Ranch, Hunting, Livestock Allowed

All mineral rights included 

$8,000,000 Land
Provided courtesy of Eric Sherwood of 2348
2103 E 47Th Street Tulsa, OK 74105

2103 E 47Th Street
Tulsa, OK 74105

MLS# 1406317 /
6 br, 6 ba, 2 half bath, 10762 sqft
4.00 acres, year built: 2000, style: Contemporary

Best of american style. magnificent estate. custom built for present owner. featured in architectural digest. on 4 wooded acres with pond. designed... 

$7,000,000 Residential
Provided courtesy of Peter Walter of Walter & Associates, Inc.
7219 S Evanston Avenue Tulsa, OK 74137

7219 S Evanston Avenue
Tulsa, OK 74137

MLS# 1402634 /
5 br, 6 ba, 3 half bath, 17389 sqft
2.97 acres, year built: 1990, style: French

Fabulous french chateau. timeless in beauty and elegance. unbelievable quality in the finishes. marble and white oak floors. antique crystal chande... 

$4,950,000 Residential
Provided courtesy of Laura Hawkins of McGraw, REALTORS
11436 S Louisville Place Tulsa, OK 74137

11436 S Louisville Place
Tulsa, OK 74137

MLS# 1410386 /
7 br, 7 ba, 1 half bath, n/a sqft
2.00 acres, year built: 2007, style: Other

'chateau nouveau' is a new home in tulsa, oklahoma that is dedicated to an era in art history that ushered in the 20th century, known now as 'art n... 

$4,900,000 Residential
Provided courtesy of Holli Woodward of Keller Williams Realty
12300 S Memorial Drive Bixby, OK 74008

12300 S Memorial Drive
Bixby, OK 74008

MLS# 1416658 /
18.71 acres, type: Over 5 Acres, mineral rights: None
land desc: Other

Prime development potential with over 650 of memorial drive frontage. 

$4,900,000 Land
Provided courtesy of Brian Guthrie of McGraw, REALTORS
  Hwy 51 Street North Mannford, OK 74044

Hwy 51 Street North
Mannford, OK 74044

MLS# 1421327 /
488.14 acres, type: Over 5 Acres, mineral rights: Not Included
land desc: Farm Or Ranch, Water Frontage, Pond, View See Remarks

20 minutes from downtown tulsa! nearly 500-acre peninsula has miles of shoreline with views and deep water at keystone lake, plus close to 1/2 mile... 

$4,300,000 Land
Provided courtesy of Kelly Garrison of 2684
 N Aspen Avenue Broken Arrow, OK 74014

N Aspen Avenue
Broken Arrow, OK 74014

MLS# 1408800 /
9.66 acres, type: Over 5 Acres, mineral rights: n/a
land desc: n/a

688 ft (m/l) of frontage on aspen & 414 ft (m/l) of frontage on 51st st 9.66 acres (m/l) of commercial potential land. according to the comprehensi... 

$4,250,000 Land
Provided courtesy of Angie Cypert of McGraw, REALTORS
  161St Street Glenpool, OK 74033

161St Street
Glenpool, OK 74033

MLS# 1413108 /
104.46 acres, type: Over 5 Acres, mineral rights: n/a
land desc: Farm Or Ranch, Livestock Allowed

Great location. close to hwy 75 (1/4 mile). commercial/industrial potential. 104.4 acres m/l. easy to develop. prime land next to current operating... 

$4,178,280 Land
Reduced -$522,285
Provided courtesy of Kayla Wright of Fred Keas Real Estate
12345 S Memorial Drive Bixby, OK 74008

12345 S Memorial Drive
Bixby, OK 74008

MLS# 1406608 /
21020 sqft, 3.11 acres, type: Retail
permitted use: Retail

Excellent income producing facility. built in 2005 multi-tenant retail center located at south of the increasingly busy intersection of 121st & mem... 

$4,000,000 Commercial
Provided courtesy of Cathy Sung of Coldwell Banker Select
0000  Hillside Drive Broken Arrow, OK 74012

0000 Hillside Drive
Broken Arrow, OK 74012

MLS# 1413742 /
6.42 acres, type: Commercial Lot, mineral rights: None
land desc: Other

Will subdivide. high visibility, broken arrow expressway frontage in midst of hillside drive development area near bass pro shop. all public utilit... 

$3,900,000 Land
Provided courtesy of Diane Miller of Coldwell Banker Select
8414 E 101St Street Tulsa, OK 74133

8414 E 101St Street
Tulsa, OK 74133

MLS# 1416450 /
15285 sqft, 3.25 acres, type: Retail
permitted use: Other

Tours by appointment only. do not disturb existing business/tenant. deed will be restricted from particular future uses. 

$3,750,000 Commercial
Provided courtesy of Tanda Francis of Beacon Commercial Group, Ltd
1351 E 27Th Place Tulsa, OK 74114

1351 E 27Th Place
Tulsa, OK 74114

MLS# 1414239 /
5 br, 7 ba, 3 half bath, n/a sqft
1.95 acres, year built: 1930, style: English

1.95 acre estate designed by forsyth in normandy style, 1/2 block from philbrook. dramatic landscaping & pool. newly updtd bths & kitchen. 2 bdrm ... 

$3,650,000 Residential
Provided courtesy of Blake Loveless of Walter & Associates, Inc.
4011 S Yorktown Place Tulsa, OK 74105

4011 S Yorktown Place
Tulsa, OK 74105

MLS# 1421784 /
4 br, 5 ba, 3 half bath, 10629 sqft
0.76 acres, year built: 2000, style: English

 

$3,500,000 Residential
Provided courtesy of Peter Walter of Walter & Associates, Inc.
19393  Clear Brook Road Owasso, OK 74055

19393 Clear Brook Road
Owasso, OK 74055

MLS# 1410321 /
7 br, 7 ba, 5 half bath, 14089 sqft
2.74 acres, year built: 2012, style: Country French

This french country inspired mansion designed by rick hoge sits tucked away on 3.8 ac m/l wooded lot.front circle drive features courtyard w/founta... 

$3,490,000 Residential
Provided courtesy of Becky Orr of McGraw, REALTORS
7700 S 33Rd West Avenue Tulsa, OK 74132

7700 S 33Rd West Avenue
Tulsa, OK 74132

MLS# 1406861 /
4 br, 4 ba, 2 half bath, 9671 sqft
25.00 acres, year built: 1999, style: Other

Amazing property with house overlooking covered patio, inground pool, fireplace and pond. open kitchen and dining. office. 1st floor theater. mstr ... 

$3,400,000 Residential
Reduced -$500,000
Provided courtesy of Jacki Crews of McGraw, REALTORS
721  Wilkerson Drive Pryor, OK 74361

721 Wilkerson Drive
Pryor, OK 74361

MLS# 1405724 /
n/a sqft, 7.25 acres, type: Apartment/5+ Units
permitted use: Office

101 garden and townhouse apartment complex with retail frontage. great opportunity with economically stable client base. resort living with lake pr... 

$3,300,000 Commercial
Provided courtesy of Dawna Barnes of Lakeland Properties
30736 S 4539 Road Afton, OK 74331

30736 S 4539 Road
Afton, OK 74331

MLS# 1409016 /
10714 sqft, 2.95 acres, type: Business Service
permitted use: Recreational

Property consists of 12 rental units: 1,2,3 bedroom units all fully furnished, 2 with jacuzzi tubs, units all equipped with flat screen t.v's, full... 

$3,200,000 Commercial
Provided courtesy of Vinson Reed of 2669
10931 S 69Th East Avenue Tulsa, OK 74133

10931 S 69Th East Avenue
Tulsa, OK 74133

MLS# 1415067 /
3 br, 3 ba, 2 half bath, 7690 sqft
1.90 acres, year built: 2003, style: English

Stunning home, tastefully decorated. cul-de-sac, private backyard.100ft covered patio overlooking spectacular pool & gazebo. high ceilings, beamed ... 

$3,200,000 Residential
Provided courtesy of Sheryl Chinowth of Chinowth & Cohen, REALTORS
23700 E Cobbs Corner Road Tahlequah, OK 74464

23700 E Cobbs Corner Road
Tahlequah, OK 74464

MLS# 1419464 /
2 br, 2 ba, 1784 sqft
161.14 acres, year built: 1920, style: Cabin

Must see to appreciate! unique resort style property on illinois river. 3 homes all with river view & access, 161 acres m/l with over 1/2 mile of r... 

$3,150,000 Residential
Provided courtesy of Beverly Jeanes of Cochran & Associates
7228 S Evanston Avenue Tulsa, OK 74136

7228 S Evanston Avenue
Tulsa, OK 74136

MLS# 1414134 /
5 br, 5 ba, 7362 sqft
2.45 acres, year built: 1945, style: Contemporary

Rare opportunity to own the sherman estate. art deco at its finest. outdoor living and kitchen opens to saltwater pool. lovely lot. phenomenal view... 

$3,000,000 Residential
Provided courtesy of Sue Blair of McGraw, REALTORS

Broker Reciprocity Information is provided in part by the Tulsa Area Multiple Listing Service of the Northeast Oklahoma Real Estate Services (NORES). Copyright 2009. All information provided is deemed reliable but is not guaranteed accurate and should be independently verified. NORES MLS Internet Data Exchange (IDX) information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information was last updated: 2014-07-24