Hello there,

Most people who have their homes on the market right now for sale, do so, because they HAVE to sell. As we all know, the market conditions are by no means favourable for a seller, so it is more out of necessity that sellers are sellers. If a house is on the market for rent, that is what the person wants to do, they may be prepared to sell the home to you in the future, but to come to an understanding with an owner now, for a purchase down the road is going to be very complicated. There are many variables that have to be taken into account.
If I were you, I would focus on renting until you are in a position to buy. When you are ready to buy, you may find many more homes available that you like more than the one you have obligated yourself to buy.
If you need any help just let me know, my office is in the Gables. Have a great weekend!

Shelly

Dear JRD,
To truly give you good advice I would need to know more about your situation. There are many variables to consider. A true option requires money exchanged for the option to be legal. A Seller normally would want a respectful amount of money to commit to you. This money is wasted if your situation changes or the market moves in the opposite direction from your projections. If you do a lease purchase, you commmit to buy the house at a date down the road. Again there are no guarantees of the market at the time you agree to purchase. You can secure a "right of first refusal" . In this case the property owner is obligated to offer the house to you in the event of an offer. You can then match that offer or move on. This option allows you to wait and make your choice based on the market conditions at that time. I need much more information to really give you adequite advice. Hope this helps.

Don Elliott bkr
Elliott Realty Servics Inc.
305-597-7172

There are two different options, "rent with option to buy" means almost no commitment from the seller or from you, it is only an option. "Lease Purchase" is a more solid way of setting it up, and I will be happy to assist you. Are you a cash buyer? Is it with Financing? Are you already approved by a Bank? If so, for how much? Feel free to call me to discuss further.

Thanks,

Giselle Perez
The Keyes Co,. REALTORS
305-776-1952

Dear Jrd,

People really truly underestimate how complicated rent with option to buy can be. Many homeowners either want to rent or to sell, if their goal is to sell, then for them to take their property off the market so you can have the 'option' to buy is not so appealing on it's own, therefore, they will ask for money upfront for you to have this option anf for them to lose buyers in the meantime. In my experience with rent to owns, it is a situation where it has to be appealing to renter and owner and this can be difficult to achieve. The price that you would pay for the house has to be determined upfront and with the market being as it is, this may work against you
If you choose not to exercise your option to buy, you lose the money (if you paid any) that you paid upfront to have this option. Right now I see sellers holding mortgages for buyers but I do not see many options to buy. If your goal is to buy this might be a far less complicated route for you to go. If you have any questions or need to know what is available for rent or sale in the Gables, just give me a call or email me. Have a great week!

Shelly
Owner/Broker Papillon Real Estate, LLC

I'll be happy to assist you. Rent w/option to buy is a difficult proposition in this market, but it doesn't mean we can't try.
Contact my assistant, Jenifer, at 239-595-4041, and we'll get started.

I think there are an enormous number of owners in Coral Gables who will be delighted to rent with an option to buy. I have done two of those transactions in the last 30 days. Please contact me if you would like more information or wish to discuss. Carole Smith

Dear Jrd,
there are very few owners out there willing to put their property up for rent with an option to buy. Sellers are looking to sell and take whatever equity they have out of the house. However, if you were to find a seller willing to give you that option, make sure that you rent is applied to the purchase price. But it is risky. What would happen if the house went into foreclosure? You would lose all your investment and ultimately would have to move out.
My name is Manon Mohammady and I am a broker-associate with Coldwell Banker in Coral Gables. Please visit my web site to learn more about me and the way I conduct real estate business. Thank you for your inquiry.

Hi Jrd,
Renting single family homes in the Gables is at a premiun, so I would look to buy.
Rent to buy's are quite complicated and generaly misunderstood.

If you want more info, feel free to email me.
Jav