Sell or lease in this market?

Trying to sell property that isn't moving means you need to start thinking outside the box, especially if you really want to sell. Whether you should sell or lease in this market is a big decision that should be only be made after you have educated yourself on the advantages and disadvantages of both.

Unless you have money to spare, holding onto vacant property is only costing you money, but you do have options. If there are no buyers in sight, you might want to consider leasing the property until it is sold or allowing leasing with the option to buy.

Leasing with the option to buy typically requires the potential buyer to put down a deposit, and a pre-determined amount of the rent will go towards the purchase of the home. In many cases, if the buyer decides not to purchase the home within the designated timeframe, they will forfeit the deposit. This could be considered a cushion for you in case the lessee decides not to buy at the end of the lease term.

The good news is the price of homes in Dallas-Fort Worth is on the rise, at least for the last two months. Holding out for a sale or leasing the property: either choice is a waiting game. This is a matter that should be discussed with your realtor or real estate attorney before you make your final decision.