Home Selling in Largo>Question Details

Tanya, Home Buyer in Largo, FL

I AM LOOKING FOR A HOME IN LARGO OR CLEAWATER , AND I BUILDING MY CREDIT NOW, LOOKING FOR A RENT TO OWN OR OPTIONS TO BUY

Asked by Tanya, Largo, FL Fri Jun 29, 2012

Help the community by answering this question:

Answers

3
I would recommend that you interview a few agents and explore all of your options. There are lease options, seller financing options you might even be able to qualify now if you work with a good lender. Working with an agent who will sit down with you and take time to explore your current needs and situation could be very beneficial for you. Best of luck in your search!

Jeffery Lonas
Real Estate Consultant
Keller Williams Gulfside Realty
727-831-6089
JefferyLonas@gmail.com
http://www.tampabay-home-sales.com
Join me on Face Book
1 vote Thank Flag Link Fri Jun 29, 2012
Really great advise from Jeffery regarding lease/options.

As he advises...you would be well served to contact a real estate professional.
What you should not do is call the number on the sign in the front yard that says 'Lease/Option."

The leas/option segment of the market is populated with predators, but there are many from whom a good and beneficial arrangement can be agreed upon. Many agents will have unadvertised opportunities available.

Be aware, if you have a bad credit history. lease option is not for you.
If you have been denied credit (quite a different situation) then lease options are designed specifically for you. The right agent is the gateway to success.

Now, you need to pick up the phone and start calling agents....If you are serious.
In the long run, you will discover the most beneficial path to success, for you, will be to exercise patience and great financial austerity until such time as you can qualify for an FHA backed loan.
0 votes Thank Flag Link Fri Jun 29, 2012
Don’t waste your money trying to circumvent the mortgage guidelines that are in place to protect you. Rent to own is not ownership. Make sure to run the contract past the loan officer you are going to work with in the future before you put up any money. Mortgage underwriting guidelines are very specific on how to treat a lease option and they typically do not match what the buyer expects. That is why most “buyers” lose money on lease options, their plan doesn’t match the guidelines when it comes time to cash out the seller. I linked you some info below. Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Fri Jun 29, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer