In that zip code & price range, I didn't find any properties in the MLS that offer carryback financing.
Also, there is new legislation on seller carrybacks http://combslawgroup.com/is-seller-carry-back-financing-dead/... more
"Rent to Own" is an area to be very cautious in, more often than not they don't end up working out. A few do when done very carefully with all parties involved.
Why do you want a rent to own?
For some it can be the correct answer, maybe it is for you?
Lot's of questions surrounding your situation that we should explore.... more
Thank you all for your input, as for the question about why we weren't working with a realtor, the seller's agency took the home off the mls and wouldn't let us work with our agent. it is a situation where we need this house because of location.... more
You are assuming the seller is in a better position than you are, often a very big mistake. Usually the reason a buyer seeks owner provided financing is because the buyer does not qualify for a traditional loan. Underwriting guidelines protect the buyer more than they do the lender. If you try to work around not qualifying for a traditional mortgage the risk on your side increases dramatically. Search around and you will find plenty of “buyers” that tried owner financing or lease to own that did not work out so well. The underlying assumption is the seller will also be able to perform someday down the road. That is a very big what if, people die, get divorced, go belly up, lots of bad things could happen to the seller before you are ready. See the other answers about lower down payments. I hope my observations protect you, good luck,... more
You probably could go either way on this one, depending on your preference. For example, with him working and you not working, he may qualify for more house without you because your debts don't count against him. It really depends on whether his credit is sufficient to qualify, since it sounds like he is the one (currently) with the income.
Do you have a good Mortgage Broker? A Mortgage Broker can find the right Lender for you--s/he can shop for you based on whatever your specific criteria are, just like your Real Estate Agent does. This way you're not "tied" to one Lender's product list--which may or may not be a perfect fit for you. And a situation like yours may or may not be as "cookie cutter" as some Lenders prefer. You certainly don't want to find out 1/2 way through the process the Lender you chose doesn't like your profile after all...
If you don't already have a Mortgage Broker, please give me a call at (602) 620-1199. I'd be happy to help!
Dear Mr & Mrs J C:
I noticed you indicated Deer Valley. I am a experienced real estate broker that works the North Phoenix area. We have excellent attractions and restaurants and beautiful areas all within a short distance to Central/downtown Phoenix.
I will be happy to provide you with listings of the various properties available. You may send your request to: email@example.com.
Trust I have the opportunity to work with both of you in the near future.
Licensed Real Estate Broker... more
If manufactured is short-hand for mobile, or if it looks in any way, shape or form like a mobile home, or that it could become, or have been a mobile home, then it won't be going up in value.
Location, condition, circumstances all play a factor.... more