Home Buying in Connecticut>Question Details

Mikejpelleti…, Home Owner in North Port, FL

Renting to Own.......Sort of

Asked by Mikejpelletier, North Port, FL Fri Jun 22, 2012

My wife and I are currently living in Florida in our own home. We have lived here a year and my wife has been offered a new and much more lucrative transfer back to the Northeast. Our house should sell here and reasonably quick as we are in a highly desirable area. Our dilemma is we want to have a home to go to and not a rental! We have kids and don't want to keep up-rooting them. I am trying to find a seller who is willing to let us rent for a few months until our house is sold here and we can close. Every RE agent I've spoken to thinks I'm nuts. With all the vacant homes out there I can't find someone to think outside the box??

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0 votes Thank Flag Link Sun Jun 24, 2012
Hello Mike, there is something called 'rent with an option to buy' which may be the option you're looking for. However for this to work you should know exactly where you want to live, the kind of house you want to live in, etc. . . . all the things you consider when you're buying. Find an agent to work with . . . check out http://www.coldwellbankermoves.com and contact the office in the community you've targeted. I'm sure we can help you.
0 votes Thank Flag Link Sun Jun 24, 2012
Dear Mike,

there are rents that you can have for a short period in our area.
Harford or Tolland county .

Where are you looking to live in Connecticut?

Anne Miller
0 votes Thank Flag Link Fri Jun 22, 2012
Hi Ann, Very familiar with your RE Agency as we are originally from Manchester. We would like to be east of the river again, but more rural this time. Bolton, Coventry, Tolland, Willington, etc.
Flag Fri Jun 22, 2012
Hello Mike, I don't think its nuts its very possible. There are quite a few creative optins. Where about are you looking to stay in Ct. I can help. Reach out and we'll discuss.

Thank you,

0 votes Thank Flag Link Fri Jun 22, 2012
This doesn't sound nuts at all, it is a dilemma we see all the time.
A few questions:
Have you listed your home for sale yet?
Have you been to a bank to find out if you qualify to carry both homes?
Have any of the agents recommended purchasing a home with a contingency that you sell your home in FL first?
What have the agents you have spoken to recommended that you do?
Seems like I'm missing something...
0 votes Thank Flag Link Fri Jun 22, 2012
Hi Dana,
Our home is not yet for sale in Florida. It can be with a phone call to our Realtor. We owe 140 and houses in are neighborhood are being snatched up at 220-225 within a week or two of being listed. So there's equity. Every one I talked to said NO One will do a Hubbard Clause for a house in Florida. We spoke to one mortgage broker and they said our debt to income ratio is to close for another mortgage unless we have a sizable down-payment which we do not. Our down-payment is our Florida home equity
Flag Fri Jun 22, 2012
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