debbie maldo…, Both Buyer and Seller in Florida Center North,...

Relocating from NJ to Fl in July with my parents & my 9yr old. Looking for homes with detached in law suite or guest house. Rent with option to

Asked by debbie maldonado, Florida Center North, Orlando, FL Mon Feb 21, 2011

buy? Would rent to own be a better option for us? I dont have good credit & so we were trying to do the reverse mortgage thing. That might be more beneficial for all of us. What would you suggest? We dont have much time left im getting anxious. We are looking in the Seminole County area.

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Hi Mdbronx23,
Call a Realtor, they can help.
Good luck!
Thank you
Need More Information? Please visit us @

Mike Luzzo
Charles Rutenberg Realty
933 Lee Road, Suite 300
Orlando, FL 32810
Office: (407) 622-2122
Cell: (407) 222-4545
Fax: 407-442-0615
0 votes Thank Flag Link Wed Feb 23, 2011

When you say you don't have good credit, have you checked with a lender? I always recomend leaving no stone unturned, you could be surprised on what you may qualify for!

There are some great rent to own deals out there however you need to make sure you team up with an agent that has your best interest in mind.

If you need help trying to find the right property feel free to contact me, there are many ways to find great deals out there and recently I have come across a few great rent to own options. Also I do have a great lender I work with if you would like to go that route as well.

Best of luck!

Jeramie Vaine
Web Reference:
0 votes Thank Flag Link Tue Feb 22, 2011
Hi Mdbronx23,

Glad to hear your are relocating to the Sunshine State! My sister lives in Westwood, NJ ( I visit often) and she would love to move back home and misses the year round, great weather. If your parents are the one doing the reverse mortgage and are successful, are they intending to contribute to the new house? How is their credit? Are they receiving Social Security or still employed? Are you for sure leaning toward Seminole County? There is a 100% finance program called USDA for rural vicinities that may be an option for you. When you say you don't have good credit, how bad is it? Is there a recent bankruptcy or foreclosure? I know in Winter Garden a neighborhood called "Signature Lakes" at Independence that have detached living quarters. It is located in zip code 34787 and that specific area in Orange County is eligible for the 100% finance program. What is your desired price range? I can refer you to a local, mortgage professional that can better assess your personal sitiuation and maybe give you some creative financing ideas based on the scenario. With the limited facts known, it is hard to properly advise you, but I would love to assist you and your family any way I can. I have access to the entire Central Florida's data base of inventory and will do my best to help in your transistion & relocation.

Call me anytime or e-mail me directly and I will promptly respond.

Hope you had a GREAT weekend! Good Luck...

Thank you kindly,
Kim Setzer, REALTOR
CENTURY 21 Elite Home Finders
0 votes Thank Flag Link Mon Feb 21, 2011

Rent to own is a great option if your agent understands them and there are rent to own properties throughout but depending on price range an in law suite will be a tough find but I've found them here and there in the past, have you decided on a price range?

Again there are a good number of properties offering in law areas, here is a quick list under $300,000 of duel master or in law suite homes,…

I currently live in Seminole County and have family in Lake Mary and Tuscawilla both in Seminole County.

I'd like to help, my email is and phone 407-330-0060, make sure you use a reputable company for the reverse mortgage as issues and stories are starting to arise. I recommend Scott Henderson at FBC Mortgage, Orlando Based and has 2 offices in the Seminole County Area.

Hope this helps,

Dave Lowe, Real Estate Broker
GRI, ePRO, Realtor

Community and Family Values
Web Reference:
0 votes Thank Flag Link Mon Feb 21, 2011
My office is located in Lake Mary and Longwood which are located in Seminole County. There are not too many properties with inlaw suites or guest houses. We also don't do alot of rent to own because of the ever changing market. At the end of the lease option, the buyer doesn't want to buy the house for the agreed price. So you may really want to concentrate on just getting a rental. Let me know what you can afford in rent. I do have a mortgage person you can talk to (Bill Robertson, Integrity Home Loans, 321-696-5700) He will definitely help you with a direction. Also go onto my website: and you can view everything in Seminole County on the market. Sometimes the sellers may be willing to rent. Contact me when you get a chance and I can help you. I work with a partner and we are considered top agents in Central Florida and have been in business for over 30 years.
0 votes Thank Flag Link Mon Feb 21, 2011

I moved here from Tom's River, NJ.

With Rent to own you typically pay a higher up front cost.

Rent to own is usually geared towards buyers with bruised credit who need a year or two to get qualifiied.

The type of home you are describing is very popular because we are 30 minutes NW of Orlando.

The link below includes some videos from the Mount Dora area.

If you need help we can be contacted at:

Ray Levy
Coldwell Banker Camelot Realty
Mount Dora, FL 32757

0 votes Thank Flag Link Mon Feb 21, 2011
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