Home Buying in Indianapolis>Question Details

Mnina-morelo, Home Buyer in Indianapolis, IN

Do the Rent to Own program for people with fear credit score reeelly work in Indiana State?

Asked by Mnina-morelo, Indianapolis, IN Mon Apr 15, 2013

Help the community by answering this question:


Claire-Anne Aikman’s answer
I have negotiated several successful rent to own options but the buyer must make it appealing for the seller. Solid and improving credit, an estimated date of mortgage readiness, sizable down-payment - all these factors and more help a seller become willing to do a lease option.
Call or text me to discuss furhter.
Claire-Anne Aikman
Carpenter Realtors
0 votes Thank Flag Link Mon Apr 15, 2013
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

There is no FORM printed by anyone; there are just too many variables.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!

Good luck and May God bless
0 votes Thank Flag Link Mon Apr 15, 2013

Depends on your situation. Sometimes if we can find a home you really like and if you can put down a big enough amount the seller will do a rent to own or a land contract. Give me a call and we can discuss details.

Kord Golliher
Carpenter realtors
0 votes Thank Flag Link Mon Apr 15, 2013
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