Home Buying in Henderson>Question Details

Carmen Prater, Home Buyer in Henderson, NV

Job transfer & looking for a rent to own or lease option in the Henderson area. (Further south the better as I will be working in Boulder City.)

Asked by Carmen Prater, Henderson, NV Mon Jun 30, 2014

We have excellent income, but credit is on the mend so we probably need a year or two to get financing.

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Answers

4
Carmen,
Rent to owns are rare, and even more rarely are they a good deal for the renter/buyer. You are just a tenant until you are able to qualify and complete the mortgage. Landlord/sellers love these because they collect up front non-refundable deposits and over market rent and rarely ever see them complete the sale.
A better option is to solve whatever issues are preventing you from buying now. Save your down payment, fix your credit and make a real purchase from a lot more choices when you are really ready. Credit repair can happen quicker than many people realize. There are lenders who assist buyers with legitimate credit repair. See if you can find one and consider either an outright rental for a shorter term of see if you can qualify to purchase right away.
1 vote Thank Flag Link Mon Jun 30, 2014
Carmen, I think Dan Tabit from Washington state already gave you the best advice! Lease options and rent to owns are SELDOM, if ever, to the advantage of the buyer. Not only are there very few of them so your choices are limited, but the sellers know they can charge way above market value to buyers that cannot qualify right now.

I would advise renting until you can qualify. That way you will be able to buy the home you really want and you won't pay too much for it.

Sometimes buyers can qualify earlier than they think they can. Our lender does have some specialized niche programs you might want to look into.

http://www.greatlasvegashomes.com/blog/local-las-vegas-lende…

There are also additional niche programs that may come up from time to time that go quickly. (Each loan program is funded by an individual investor, so when the investor funds run out, the program ends. Many such programs are never even advertised.) And if none of those programs work for you, our lender may be able to assist you in repairing your credit quickly.

Hope this helps!

Diann Tonnesen
Berkshire Hathaway HomeServices
sold@GreatLasVegasHomes.com
702-985-7654

The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"
0 votes Thank Flag Link Thu Jul 10, 2014
There is an investment group in town that will allow you to pick the home and they will buy it for you. The terms are pretty punitive but if you want something now and know you can finance within 4 years then this is the program I recommend.

You can call my agent Miranda Robinson for details and her number is 702-239-4401
http://www.lasvegas-realestate-communities-homesforsale.com/…
0 votes Thank Flag Link Tue Jul 8, 2014
Let me know the details of what type of home you are looking for by filling out the buyer's form below. Once we have this info we can send you listings that will accept OWC and we can go from there. We look forward to hearing from you.


Best Regards,
Robert Adams
Licensed Real Estate Broker NV#62827 MA#9530304 RI#18138

NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies
C:702-349-9175
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com


MA & RI Broker at Sankey Real Estate
C: 508-250-0345
RobertAdams@MArealestateHELP.com
http://www.MArealestateHELP.com

RobertAdams@RIrealestateHELP.com
http://www.RIrealestateHELP.com
0 votes Thank Flag Link Thu Jul 3, 2014
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