Home Buying in Sarasota>Question Details

Sheenb123, Home Buyer in New York, NY

Looking for a rent to own

Asked by Sheenb123, New York, NY Tue Jun 17, 2014

I am looking for a realtor in sarasota fl to assist me in finding a home with a lease option. Thanks!

Help the community by answering this question:


Sheenb123, a rent to own has a higher probability in a buyer's market. We are in a seller's market. There are two types of ways to purchase 1.) is rent the property with an option to buy on a future date. This requires two documents; a lease agreement and an contract with an agreed price and close date with a non refundable deposit.

The second method is to use a contract for deed. This method shifts the control to the buyer whereas the lease option maintains the control with the seller.

Frankly a lease option is not a favorable transaction to enter into. You will be committing to buying at a future value that may or may not be reached.

Best regards,
Lynn Brock
Brock Realty Inc.

Visit http://www.brockrealtyinc.com where you can sign up for a FREE Listing book account which allows you to search the MLS in real time and receive morning reports on new listings, current pendings and recent solds.
0 votes Thank Flag Link Thu Jun 19, 2014
A lease option to purchase real estate is not commonly available to today's market place. With interest rates at historic low levels and prices reduced from the great recession there really is not a need for lease option purchases.
0 votes Thank Flag Link Wed Jun 18, 2014
I would be proactive and use the Trulia Find an Agent feature.
0 votes Thank Flag Link Wed Jun 18, 2014
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