Home Buying in Hickory>Question Details

Dhd, Home Buyer in Hickory, NC

I am looking for a lease-purchase option home in the Hickory, NC area, where is the best place to look?

Asked by Dhd, Hickory, NC Sat Apr 2, 2011

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4
Have tried a a straight purchase yet? I'm an agent with Coldwell Banker Boyd & Hassell I could help you find a lease-purchase, if that is the only option you are interested. As a buyer's agent, my fee comes from the sellar's proceeds in most all cases. If you ever consider getting someone to do the leg-work for you, just let me know. Good luck?

Kenny Dowell
Web Reference: http://www.kennydowell.com
0 votes Thank Flag Link Thu Dec 13, 2012
An Agent can help you! Your Agent can look thru MLS for lease-purchase listings!
Let me know if you would like my help.
Best,
Annabelle
0 votes Thank Flag Link Sat Sep 17, 2011
Dhd,

If you're interested in doing a lease-purchase, the first thing you need to do is find an agent that is experienced in them. Otherwise, you'll get responses like the one before.
If you haven't yet, research the term lease-purchase, lease-option and educate yourself on it a bit.
In a lease option deal, as the buyer, you'll usually be required to put down a good-sized option fee. Make sure that you are prepared for that. When lease options "don't work out" it is rarely the seller is unable to close the deal because the value has dropped too much (there's a fix for that as well, if it would happen), but rather because the tenant/buyer is a) decided not to buy (ie, it didn't work out for the seller) or b) the tenant/buyer did not work enough on their credit/financial situation to be in a position to buy.
A lease option is a lease with the option (but not the obligation to buy). As a tenant/buyer you don't have to purchase if you decide you don't want to buy anymore.
The real key is understanding where you stand financially and credit-wise. You want to make sure that you are in a position to buy it when the time comes if you want to buy it.
0 votes Thank Flag Link Sun Apr 3, 2011
There is no one good place to look but you will have to look hard to find them for a couple reasons.

1. A seller wants to most often sale and walk away. Rent to own means they are landlords.

2. Most rent to buy deals never work out so the seller gets stuck with the house when the renter can't buy it in a year.

3. Home values are going down and that is a negative for rent to own sellers because the bank may not honor the agreed price of the home in 1-2 years and not give the renter a loan based on it.
0 votes Thank Flag Link Sat Apr 2, 2011
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