Home Buying in Falmouth>Question Details

Betchacan2, Home Buyer in Falmouth, ME

Would anyone know, if some of the owners whose homes are for sale would be interested in renting them for 1-3 years, then selling?

Asked by Betchacan2, Falmouth, ME Thu Mar 3, 2011

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Susan Moore’s answer
Some owners are willing to participate in lease to own agreements. The answer tends to be property specific. There are some general questions that sellers consider.

1) What are the terms offered? I.e., do you have a downpayment with which to tempt the seller?
2) What is the seller's personal situation? Some sellers are comfortable being landlords, some aren't. Some can afford to hold their homes, some can't.
3) What is the buyer's reason for not simply buying now? Sellers are nervous that if you don't qualify for a loan now, you may not qualify a year from now. They will want to know that you have specific criteria from a lender and a real plan for being able to purchase down the road.
Most brokers know a seller or two who would consider leasing to own. I would suggest you get yourself a good buyer's agent and make proposals to specific sellers.

Susan Moore, Broker/ REALTOR
The Susan Moore Team
Better Homes and Gardens Masiello
76 TandbergTrail
Windham, ME 04062
(207) 615-1390 (cell)
(207) 893-2133 (fax)
http://www.susanmoore.masiello.com - visit me online!
0 votes Thank Flag Link Sat Jun 4, 2011
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