For Rent in Fort Lauderdale>Question Details

Hannah Desmo…, Renter in Fort Lauderdale, FL

Is renting with the option to buy a good idea while i improve my credit score?

Asked by Hannah Desmond, Fort Lauderdale, FL Mon May 13, 2013

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5
It's an idea but in my estimation those deals seldom work out.
0 votes Thank Flag Link Tue May 14, 2013
Depends on if you are going to exercise the options, what the option costs you and how quickly you have to exercise the option.
0 votes Thank Flag Link Tue May 14, 2013
Maybe, maybe not....Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright; there are other factors besides credit that determine mortgage qualification....
0 votes Thank Flag Link Tue May 14, 2013
Definitely it is, you get to know the location and the surrounding areas a lot better while to take care of your credit.
0 votes Thank Flag Link Tue May 14, 2013
It is an excellent idea to agree on a price today while the market has not completely recovered. However, I would speak to a mortgage broker or a loan officer to determine what needs to get done to improve your credit.

Additionally, you might want to consider a home that the owner is willing to finance.

Please call me at 954-336-5156 to discuss.

Maria Sabio
CHERYL CHANE TEAM
CHANE REALTY
http://www.chanerealty.com
maria@chanerealty.com
0 votes Thank Flag Link Mon May 13, 2013
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