Home Buying in San Jose>Question Details

Miguel A Bar…, Home Buyer in San Jose, CA

I am considering a rent to own home in the South San Jose Area. Where do go about finding such listings?

Asked by Miguel A Barreras Jr, San Jose, CA Tue Aug 26, 2008

There's not a lot of them on craigslist nor newspapers. I don't think agents help this type of buyers since they don't make any money off them. So where do you look for this listings?

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Answers

6
Hi Miquel,
this is commonly reffered to as a lease option. You will need to fill out a purchase contract, a rental agreement and other assocaited paperwork. In fact it is very much like you are buying the home now. Still have to qualify do your inspections etc. The benefit to you is nailing price and terms in this Market in anticipation that the market goes up when your option kicks in. The benefit to the seller is that if you do not perform he gets to keep your deposit (option money). So yes you should consult a realtor, and yes you should talk to a lender, and if possible buy it now
Good Luck and let me know if you have further questions

Mike Moresco
Alain Pinel Realtors
408.357.8727
mmoresco@apr.com
Web Reference: http://www.mikemoresco.com
1 vote Thank Flag Link Wed Aug 27, 2008
Hi Miguel,
You need to work with someone who can help you evaluate the benefits of rent to own versus buying. With the first time buyers programs available, you might be able to purchase now. I suggest working with a trusted lender who can help pre-qualify you, as well as a realtor to help you find the home. If you need any referrals, please send me an e-mail and I will give you my favorite lenders to work with.
Happy house hunting,
Linda Baker
Alain Pinel Realtors,
408.712.3432
1 vote Thank Flag Link Tue Aug 26, 2008
Miguel,
First there is no specific source for this category. More importantly I would ask, why do you want to do this? There are numerous First Time Buyer programs that allow for 100% financing so why not just buy now and start getting the tax benefits? Give a little more info regarding your situation and we can probably give you more specific advice.
Bill
1 vote Thank Flag Link Tue Aug 26, 2008
We sold our house in a short sale. All the programs benefit those who stayed in their house. Hind sight is 20/20. Anyway, We made around 190k last year and have 4 kids. I couldn't find any programs for us. Are there any you know of? We would like to stay in Leigh HS area
Flag Sat Apr 26, 2014
Contact a buyer's agent that has experience in such transactions.


http://www.amirShahkarami.com
http://www.888siliconValley.com
0 votes Thank Flag Link Sun Aug 31, 2008
Miguel,

Work with a Realtor. There are sellers who are willing to do what it takes to sell their home and a good Realtor will be able to find you what you're looking for.

Regards,
Ali Moein
0 votes Thank Flag Link Tue Aug 26, 2008
Realtor do make money off this transaction for lease and then when you purchase contact an agent on Wednesday provide your specifications.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Aug 26, 2008
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