Property Q&A in 76008>Question Details

Penny Serrato, Home Buyer in Aledo, TX

Is it possible the owners would do a lease purchase on this if someone were interested?

Asked by Penny Serrato, Aledo, TX Thu Oct 23, 2008

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I personally don't like this idea. In my experience few people end up buying. This presents a problem as your contract normally obligates you to buy and puts your down payment at risk if you don't. If you want to rent --then do it, RENT. If you want to buy, then BUY, but don't mix the two. We've recently taken steps in Texas to prohibit these types of transactions. There are still people advertising such schemes and think they have a way around it, but the intent and content of the law is clear-NO RENT TO OWN. There's a reason for the law and that is that there were too many bad guys out there taking people's money in a lot of different ways. As a person wanting to rent you put yourself at some risk agreeing to these transactions.
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0 votes Thank Flag Link Sun Oct 26, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX

Keep in mind that the listing agent IS the seller.

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0 votes Thank Flag Link Thu Oct 23, 2008
Dear Penny,

Everything is possible in this market. Here is the name and phone number of the listing agent. Your best bet is to call and ask. Lots of luck to you!

Sheila Swan
(817) 441-8059

For further help you can reach me or my partner via our email
0 votes Thank Flag Link Thu Oct 23, 2008
I can call the agent and ask. It is right up the road from me. What are you wanting to put down and for how long do you want to lease before you buy?
0 votes Thank Flag Link Thu Oct 23, 2008
It is possible, but you won't know unless you ask. Lease purchase can be a tricky thing to navigate so I would definitely consult with a good real estate agent. If you need help finding one then please let me know and I will connect you with a good one in your location. Contact me at if want further help. Thanks.
0 votes Thank Flag Link Thu Oct 23, 2008
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