Home Buying in 92203>Question Details

Shelly S., Home Buyer in Indio, CA

lease options

Asked by Shelly S., Indio, CA Sun Jun 8, 2008

Can some one explain lease option to buy. I would like to find a home to lease (short term 6 months) That I can buy as soon as financing becomes available. I am in the process of rapid re scoring my credit one bureau list it as very high the other two very low. The problem is the home is to be for my elderly parents who are currently living in their R.V. (don't ask) and it is very hot in the Coachella Valley where they are and I need to get them in to something right away. What is the best way to find lease option to buy properties?

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Shelly, I work in the Desert Area. I am a the Lease Queen in my office in Palm Desert. You can lease a property for 6 months then if you want to buy it we could negotiate the price. Feel free to contact me if you need further assistance. Thank you. 760-464-2076
0 votes Thank Flag Link Mon Sep 29, 2008
Shelly, goto craigslist or backpage for leases and lease options... You will find many! Just make sure when you you are represnted by a broker or at least make sure an attorney review the contract...

Many clients overlook potential loan programs that are not 100% FICO Score Driven. For example I know of a Loan Program for Native Amercians not FICO driven, 98% Financing, FIxed 30 Yrs FHA Rate.
0 votes Thank Flag Link Mon Aug 25, 2008

A local Realtor can help you with this. Your best bet would be to get the credit in order first as there will be a problem whether you are renting, purchasing or doing a lease option. Your credit will be run.
0 votes Thank Flag Link Sun Jun 8, 2008
Pam Winterba…, Real Estate Pro in Danville, VA
It's really just a lease with the ability to buy the property in the future. I usually don't like combining the two. My philosophy is you either lease or purchase, but not both. Just word alone lease purchase is an oxy moron. You can only do one at a time. It's not a big deal. You need to decide up front if the home you are leasing is really something that you want to buy in the future. You just want to lease and then look at purchasing when you are qualified.
Web Reference: http://GetPrequalified.com
0 votes Thank Flag Link Sun Jun 8, 2008
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