Property Q&A in Arcadia>Question Details

april_m_baker, Other/Just Looking in Arcadia, IN

on homes that are for sale could you alway rent to own if it ok with the owner?

Asked by april_m_baker, Arcadia, IN Mon Mar 12, 2012

Optional details about your question

--
This question is about this property: http://www.trulia.com/property/3061681870-10925-E-266th-St-A…

Help the community by answering this question:

Answers

2
April, if the seller is offering a property as a rent-to-own or contract sale, then sometimes they have their own things that they may require to 'qualify' you, but usually these types of homes are easier to get into than qualifying for a mortgage. However, you should still have someone (like a realtor) assist you with this type of home transaction in order to cover your interests and make sure the seller isn't taking advantage of you in any way. Another problem is that there are very few sellers who can afford to finance someone else buying their home. Most of the time, homeowners' need the money from the sale of their home in order to acquire another one.

Some sellers will advertise on the regular multiple-listing service when they are selling on contract or rent-to-own, but many more will advertise in local papers. Check out the newspapers in Arcadia, Cicero or Noblesville and any other surrounding communities to see if you can find properties that are financed in some way by the seller, then get with a realtor.

I'd be happy to help you anytime. jbarnett@prudentialindiana.com
0 votes Thank Flag Link Wed Jan 16, 2013
April, If the seller agrees you can draw up a contract to rent to own. Let me know if I can be of further help to you. Frankie House
0 votes Thank Flag Link Mon Mar 12, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer