Home Buying in Charlotte>Question Details

bkholiday, Other/Just Looking in Charlotte, NC

I would like to find a reputable "lease to own" company in the Cabarrus County area, which is where we live. Can you help? Thanks, Brian

Asked by bkholiday, Charlotte, NC Tue Feb 26, 2013

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Answers

5
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

There is no FORM printed by anyone; there are just too many variables.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!

Good luck and May God bless
1 vote Thank Flag Link Tue Feb 26, 2013
I have answers, call 803 741 4240, leave message
0 votes Thank Flag Link Tue Mar 12, 2013
Good evening, Brian:
There are MANY potential pitfalls with lease purchase transactions. You really don't want a company which handles their own properties or which is involved in the purchase and sale or which represents both the owner/seller and you. Instead you want a NC licensed real estate broker and NC real estate attorney to EXCLUSIVELY represent you in any lease purchase transaction and to investigate the title, condition of the property, your ability to get a loan in the future and all legal documents. I can provide the name of a real estate leasing company if you contact through profile. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
0 votes Thank Flag Link Tue Feb 26, 2013
If there's some way I can implore you to reconsider doing lease to own, from an ethical standpoint, I will try. Less than 9% of these deals ever close. The folks pushing these get paid. The seller gets some money. You will get no guarantee. Lots of times people think they're not able to buy but they are or are very close. What to do? Get prequalified with a reputable lender and map out what needs to happen to get you from point A point B. I can help too. But I will not get involved with lease to own deals because you will be out of pocket a lot of cash but nothing in writing guaranteeing anything. Just a very expensive roof over your head.
0 votes Thank Flag Link Tue Feb 26, 2013
Are you looking to buy or sell

Abby Nelson
Abbynelson@bellsouth.net
704-890-1860
0 votes Thank Flag Link Tue Feb 26, 2013
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