Home Buying in Los Angeles>Question Details

Brian, Home Buyer in Los Angeles, CA

whats the best way to locate owner financing or lease option home in Ventura or LA county, CA?

Asked by Brian, Los Angeles, CA Thu Nov 25, 2010

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Answers

3
Hello Brian,

I would say the best place to look for an owner would be interested in selling a home with owner financing is by checking with current owners of single family rental properties either by:

1. Calling on properties for rent individually. (Talk to the owner, not the rental management company.)
2. Finding real estate investment clubs in your area with members who may be interested in selling with owner financing.

You may be able to find an owner who wants the benefit of monthly payments without having to manage tenants in the same way they would have to with a rental.

Best of luck,

When It's Time To Sell Your Home, Over Paying Is Over Rated
Sell Your Home Or Investment Property-$4,995 FLAT FEE
Full Service At A Reasonable Price

Edward Sorensen, Broker
Sorensen And Associates
DRE# 01724671
http://www.SorensenAndAssociates.com
0 votes Thank Flag Link Fri Nov 26, 2010
Very few people are interested in selling their home with a lease/purchase option these days - The market uncertaintly and flood of REO and Short Sales have made the lease/purchase option very rare. On the other hand, any standard sale that has been sitting on the market for a while is a candidate for a creative realtor to approach with an owner financing option. Please let me know if you are interested in LA County, particularly Mid Town, West Side or South Bay and I can help you find what you are looking for.

Best Regards,
Catherine Bedrossian
Home Sales Pro
(310) 383-4212
catherineb@socalhomefinds.com
http://www.socalhomefinds.com
DRE #: 01247830
0 votes Thank Flag Link Thu Nov 25, 2010
Leases with a purchase option are few and far between in this market. Owner financing is also not that popular since the rates are so low anyways.

BUT, if you specifically want this maybe because you can't qualify for a loan right now, there are ways to find these properties. Have your realtor do a search for properties that are both for sale and lease. Especially ones that have been on the market for over a month. These will be good option candidates. Also there is a specific field in our MLS that specifies purchase option, but not everyone checks it.

For the owner financing, there is a searchable field for this as well and this should be easy to find. Just run a search for properties that are offering owner financing.

If you don't have a realtor already please contact me and I will be happy to assist.

Happy Thanksgiving!

Jeffrey White
KW Beverly Hills
323-251-2296
0 votes Thank Flag Link Thu Nov 25, 2010
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