Home Buying in Oshkosh>Question Details

E.sumerix, Home Buyer in Oshkosh, WI

How to find a realtor?

Asked by E.sumerix, Oshkosh, WI Thu Mar 3, 2011

We are relocating and would like to find a house that is lease with option to buy. Realators don't seem to be interested in working on homes like this. How do I find someone that can help us find the home we are looking for??

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In my experience, lease option homes are difficult to find (at least in my area). There are not too many of them advertised. One thing you could try is to find homes that are on the market for sale and also on the market as a rental and then ask the seller if they would be interested in a lease option.
1 vote Thank Flag Link Fri Mar 4, 2011
One of the questions you may want to ask yourself is why do a lease with option to buy?? The only one that really benefits with that type of situation would be the Seller. aka=glorified landlord
I know occasionaly it is due to credit scores or lack of downpayment monies. I would advise that you talk to a lender that offers credit counseling and doesn't just tell you NO and then moves on to the next person.

I have been working with a local lender from Fairway Mortgage and the stuff he can do with credit scores is amazing. His name is Barry Wood. You can send him an email at barryw@fairwaymc.com

Let him know that I told you to contact him and he may be able to help you with what you need.

Best of Luck!!
Web Reference: http://www.duanemurphy.com
1 vote Thank Flag Link Thu Mar 3, 2011
Find a local Real Estate Attorney, Realtor don't like this agreement much because it is hard to work out a commission! The Attorney would be best anyway so that they can look at or possibly even write out your agreement. Please be sure it is a qualified Real Estate Attorney, they know the true ins and outs of the whole lease option thing. Good Luck, as to finding one, use Trulia, put the are in and then search for Real Estate Professionals or for Real Estate Attorney, send them an email and check them out,
1 vote Thank Flag Link Thu Mar 3, 2011
Check with rental management companies in your area
0 votes Thank Flag Link Thu Mar 3, 2011
Speaking from Texas, lease options can be difficult to work with because of the legal requirements that need to be met, various disclosures and such. It can get complex and the liability can run high. Our broker does not allow us to do them. Note: Many Realtors choose not to get into lease options because it's a lot of work and may not compare to the compensation of a regular sale.

However, it's easier to lease without getting into the details of a lease option. Some contracts depending on the area you choose to live in, have in the lease contract where you as the leasee have the first right to buy if the seller chooses to sell.

If you still want a lease option I would contact brokers and lease property managers in the area you are relocating and first ask if they do lease options. Get a good Realtor recommendation. You may also want to ask them for names of investors in that area and a good lawyer who can help and protect your interest in the transaction.
0 votes Thank Flag Link Thu Mar 3, 2011
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