Hi Smpleyme,
What an unusual name - very clever! If you wanted a home in Hickory I could help you - a beautiful older home in NW Hickory which has been totally re-done and is very gorgeous, rather like Pottery Barn. Rent is $750, purchase price is $115,000. Very beautiful...and the yard is spectacular. If you need to stay in Lincolnton, I have an agent there with whom I just completed a good transaction. She is very easy-going and professional. Call me to discuss your options. Bonnie Tamrack 828-234-8775

Smpleyme,
Well, the first thing would be to get yourself a good buyer's agent in Lincolnton. I use to live in the Newton-Conover area and am familiar with the area you would like.
First off the agent will scan the local MLS for homes advertised as possible lease/purchase. Then an experienced agent will also look at listings that have been on the MLS for over 6 months with some price reductions. Preferably vacant ones. This tells me that the homeowners are possibly getting desparate. You can also approach some builders (new construction) if they have alot of inventory on hand and have not sold anything lately. It takes some research on the buyer's agents part but, a good one knows where to look.

Now on your part you need to decide some things. First, you need to speak with a lender and figure out how long before you will be able to move forward and purchase the home. Next how much can you put down as an "option" payment. Now the option payment goes towards your purchase price but, is not refundable. You are bascially buying time and locking in the purchase price. Now a good agent will negotiate that part of your lease payment be also applied to the purchase price so that you can be building up equity even before you buy.

If you need any help finding an agent like this feel free to contact me through my profile here on Trulia or through one of my websites listed below.

Hope this helps,

The Sunday newspaper is a good place to start then I would talk to agent who is a member of the area MLS. Many times listings on MLS will say owner financing or lease with option to purchase. I agree that most want some option money upfront, and they will want to do a credit check or check your FICO score and references. You may do better with a USDA loan which the last I check was still doing 100% loans. Also, a friend of mine had a client who could not get local financing. They spent hours researching internet and finally found a company that none of us had heard of who was willing to make the loan. The rate was not the lowest but the buyers were happy and closed their home. A rent to own maybe better for you. It requires only a regular deposit up front and a small amount goes to purchase with no definate date to close. Just be sure you have an attorney review your contract. It will be the best money you will ever spend. Hope this helps.

If there is any way you can get a loan for a home right out instead of lease to purchase? Most of the time with a lease to purchase the seller will ask for a good size payment up front and a small part of the rent is going to the purchase price of the home. If you purchase the home then the up front money goes off the price of the home at closing, If you do not purchase the home then you lose the up front money. Check with a lender and see what your credit score is and what you can qualify for and just go for it. This way if you buy and close a home by dec. 1, 2009 you can get in on the tax credit!!! I will help you any way I can just email me at rose.dupuis@hotmail.com. Thanks Rose

Sure I would be happy to help. Please contact me at 828-228-5076 or kevinteetersrealty@gmail.com

Kevin Teeters