Home Buying in Fort Wayne>Question Details

rebecca.vent…, Home Buyer in Fort Wayne, IN

are there any 2 bedroom homes up for rent-to-own or lease with option to buy in the 46807 zip area? We have a credit score of 720

Asked by rebecca.venters, Fort Wayne, IN Thu Mar 1, 2012

We are first time home buyers and just want to start small and smart.

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Ken Richardson’s answer
Hi Rebecca. There are some beautiful older homes in the 46807 zip code area and taking small steps toward home ownership is a very smart move, especially in our current economic climate. I have some concern anytime somebody in a position to buy desires to shop for rent-to-own real estate. It may be a good way to learn a specific home and neighborhood before you commit to buying but may not enable you to get the best price on your home. The price you will eventually pay for the home is usually negotiated up-front at the time you begin leasing or renting the home. Typically a buyer who rents-to-own does so because he/she does not have adequate funds or credit to purchase right now. Seller's know this and are willing to offer those terms, and put off cashing out their property, because it gives them an upper-hand and they can ask more for the property (sometimes more than it is really worth). After all you will not be getting your bank loan now and probably won't have the home appraised so, in exchange for the flexible terms, the seller will likely ask a higher rent and a higher price for the home to exercise your purchase option. A true seller wants to take the money from their home, walk away with the cash, and move on with their life and not become a landlord. That's the type of transaction where you are most likely to obtain the best purchase price. Frequently homes are offered on a rent-to-own basis because there are condition issues that may prohibit bank financing. Also some "professional seller's" make a very good living enticing unsuspecting buyer's into one-sided contracts knowing after rent the property the buyer will eventually, become discouraged and, leave enabling the seller to start over with a new buyer. Not to say there aren't some good opportunities out there, just be careful. That's where a good, full-time, experienced Realtor can help you. Whether you are looking for a rent-to-own or a standard home purchase I have more than 25 years experience protecting buyer's interests in the Fort Wayne market and offer my services to you. I will provide you with up to the minute market data for homes that meet your citeria. You may contact me by phoning: (260)422-1888 or e-mailing: ken@kenrichardsonrealty.com
1 vote Thank Flag Link Fri Mar 2, 2012

The above url gicves you three that meet your requirements or more. For more information, or real time information, call or email me & I can make sure you get the most up to date info. Things change daily. If you would like to see any of these, allso let me know & I will get you into them for a closer look.

Remax Home Connection
0 votes Thank Flag Link Sun Mar 3, 2013
Please visit my free informative website:
0 votes Thank Flag Link Sun Mar 3, 2013
I am not sure why you would want to get into a rent-to-own or lease with option situation when it appears you qualify for a mortgage with a 720. I have a quality Worthman built 1700 sq ft, 2 bedroom home available in the Woodhurst Addition where you would likely be paying the same or less and begin building equity immediately. I can also refer you to a creative loan officer who can go over options you would have for financing. Feel free to call or email me so we can go over your options for becoming a homeowner before committing to being a renter again.
0 votes Thank Flag Link Fri Mar 2, 2012
Click Here to View Listings

Chip Perry
(260) 220-0363
(260) 341-5038
RE/MAX Home Connection

If this link does not work, send me an email at the address contained in my signature. I will then reply with a link that I know works. They do not always work here in Trulia.
0 votes Thank Flag Link Thu Mar 1, 2012
Sure are. I will send you some, I live in that area.
0 votes Thank Flag Link Thu Mar 1, 2012
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