gmt, Home Buyer in Naples, FL

want to buy home with owner financing with little down. thanks

Asked by gmt, Naples, FL Sat Jul 2, 2011

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Marcia’s answer
The way I look at it, we can always ask. I have several sellers that would consider that - it all depends on what you are looking for, where it is and the other details that sellers would consider important.

My recommendation - work with an agent that is knowledgeable about properties in the area you are interested in and is willing to work hard for you. Major rule of thumb - never say never. It's a little more work but with a little extra digging and a few extra steps the possiblility of uncovering that property that "doesn't exist" just might be there. Sometimes it's a long shot but always worth the effort.

You be the judge.
0 votes Thank Flag Link Sun Aug 19, 2012
Ask a realtor in the area to provide you with a list of homes in the MLS that are owner financing, seller financing, lease to own properties. There are, however, very few that require little down. Most are 20 to 30% down. I did find a few for my buyers in the Port Charlotte, FL area.
0 votes Thank Flag Link Mon Jul 4, 2011

There are a couple different options when contemplating the rental of a home for future purchase. Each involves two legal documents, the lease itself and then either an option or purchase agreement. The option gives you the right to purchase the home at a specified price, for a specified time in exchange for consideration (the option payment). The purchase agreement is a normal purchase agreement with an extended closing date which is typically at the end of the lease. In most cases, the best use of either of these type of agreements is to allow the purchaser time to either sell an existing residence or sort out credit issues that is preventing financing at this time.

Many people think that "rent to own" is such a great deal and I can tell you that it is very rare where it makes sense but depending on your particular situation it may.

A lot depends on your goals and needs and it is something you should discuss at length with a professional Realtor® who can fully explain this process to see if it makes sense for you. Remember that you will be ruling out all short sales and foreclosures which currently dominate much of the market in Bonita Springs and the surrounding communities. You will find that in the great majority of cases people who are asking about "rent to own" do not understand what can be a complex transaction and the costs involved. Unless you have some very specific reason why you cannot buy at this time, that is fairly easy to correct, you should either rent or buy but not attempt to tie them together.

I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.

Always at Your Service,

Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
Web Reference:
0 votes Thank Flag Link Mon Jul 4, 2011
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