Just Rented with Option to Buy: Coconut Grove Townhouse


3103 Oak Ave., Coconut Grove, FL 33133
3 beds/2.5 baths | 2,200 sf | built in 2004 | rented for $3,800/month

You may recall that I recently listed this townhouse in Center Coconut Grove, and I’m pleased to inform you that the property just closed!  Although the property was originally listed for sale, the owners ultimately decided to also list it for rent due to the short time frame in which they were closing on their new home.  Their hope was that this would increase the number of prospects for the property and thus provide them with the cash they needed for their new purchase.  The perfect solution? A lease with an option to buy!  We ended up finding a couple that was in the process of selling their own home and looking to relocate to the Grove.  They needed to be out of their house quickly, but they weren’t prepared to buy a new house in that short amount of time.  As a result, they entered into a lease for $3,800/month and paid a non-refundable deposit for an option to buy the house within a certain number of months and at an agreed-upon price (I cannot disclose the sales price until the property closes, assuming the renters exercise the option to buy).  This type of transaction is not all that common, but in this case, it was an ideal arrangement for all of the parties!

If you are interested in buying or selling a home, you need an experienced Realtor that thinks outside the box and can help you navigate through the tricky terrain of home buying and selling.  I am your Coconut Grove resident specialist and I also work in the surrounding neighborhoods including Pinecrest, Coral Gables, South Miami, Brickell/Downtown Miami and Miami Beach.  I would love the opportunity to work with you – contact me today at 305.799.2124 or lindsayrubens@avatarflorida.com for a confidential discussion about buying or selling a home in Miami!


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