Rentals in Boca Raton>Question Details

lflood62, Renter in Boca Raton, FL

I am looking for a 3 to 4 bdrm house with a lease option in either Delray Beach or Boca Raton, Florida.

Asked by lflood62, Boca Raton, FL Mon May 27, 2013

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9
Daer Iflood62,

There are 8 available lease options in Boca Raton/Delray Beach.

Click Here to view:
http://bit.ly/13h6kCX

Always a pleasure,
Jen Sommers
Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 ⃓ Boca Raton, Florida 33432

O. 561.235.7777⃓ C. 786.390.9299 ⃓ F. 561.997.2614
Jen@AgentBoca.com ⃓ http://www.AgentBoca.com



"Artfully Uniting Extraordinary Properties with Extraordinary Lives"
0 votes Thank Flag Link Fri Jun 7, 2013
Hi There
I found a couple of really great options for you to lease with option to buy in Boca Raton!
One is a gated non equity membership gorgeous golf and tennis country club community and the other is a super nice family oriented neighborhood in a A rated school district. I have lived in Boca for 18 years and know the neighborhoods here as well as Delray. Please contact me personally for more info on those and so I can get more detailed information about what you are looking for to better serve you and find exactly what you are looking for:)
Suzette28@att.net
My Best!
Suzette
0 votes Thank Flag Link Wed Jun 5, 2013
Daer Lfood62,

Great! Can you tell me how much you would like to spend on lease and purchase?
I will be happy to add a link of available properties.

Always a pleasure!
Jen Sommers


Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 ⃓ Boca Raton, Florida 33432

O. 561.235.7777⃓ C. 786.390.9299 ⃓ F. 561.997.2614
Jen@AgentBoca.com ⃓ http://www.AgentBoca.com




"Artfully Uniting Extraordinary Properties with Extraordinary Lives"
0 votes Thank Flag Link Mon Jun 3, 2013
Hi,
I work in Boca/Delray and have come across this on occasion. Depends on the price range and the owner's and your situation - could be win win if the right for both!
I am completely honest and customer service based, I always go the extra mile for my clients to find the best possible home for them for the best price.
I like to get to know you and listen to your needs in order to best serve you.
Please feel free to call me to discuss further how I can be of assistance to you in your search.
Suzette Hernandez
Keller Williams
Boca Raton
561.809.5511
0 votes Thank Flag Link Wed May 29, 2013
Pat,

There are a couple different options when contemplating the rental of a home for future purchase. Each involves two legal documents, the lease itself and then either an option or purchase agreement. The option gives you the right to purchase the home at a specified price, for a specified time in exchange for consideration (the option payment). The purchase agreement is a normal purchase agreement with an extended closing date which is typically at the end of the lease. In most cases, the best use of either of these type of agreements is to allow the purchaser time to either sell an existing residence or sort out credit issues that is preventing financing at this time. You could also look for owner financing but so much really depends on your situation and what is preventing you from purchasing at this time.

A lot depends on your particular situation and it is something you should discuss at length with a professional Realtor® who can fully explain this process to see if it makes sense for you. It is very difficult in a strong real estate market to find an opportunity that makes sense but so much depends on how long you need an option for and what you are willing to pay for the right.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Mon May 27, 2013
Marc Jablon, Agent, Boca Raton, FL

Once you have located the home in Boca Raton that is willing to do a lease/option, consider the fact that you have a limited amount of time to exercise that option.

Typically, an owner will allow a 1-3 year option to purchase the home. At the outset, you will probably be asked for a non-refundable deposit that indicates that you are serious about a future purchase. This deposit will be non-refundable.

Then, you will pay additional money beyond the rental amount each month, and this extra money will be placed in another non-refundable account that will be used toward your eventual downpayment.

However, at the end of the lease option time, you will have to find a way to finance the house, unless you have sufficient cash to purchase in full.

So the first thing you may want to do, before setting up a lease option, is to make certain that you will be able to finance the home at the end of your option period. If you are not able to do that, you will lose all of the money you deposited.

You may be able to stay on as a renter, if you and the owner agree to this, but the owner would not be under any obligation to refund any of your initial deposit nor any of the additional rent you paid.

With that being said, ask your Boca Raton real estate agent to help to find homes that are currently for rent. There is a greater possibility that the owners of these homes may be amenable to a lease/ option than the owners of homes that are currently for sale.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com

To find homes in Boca Raton, go to:
0 votes Thank Flag Link Mon May 27, 2013
Here's a link to a blog I wrote on how to find lease-option properties: http://bit.ly/findaleaseoption

Hope that helps.
0 votes Thank Flag Link Mon May 27, 2013
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
I have some great agents that I can refer you to. Call me if you would like some great contacts. 561-289-012
0 votes Thank Flag Link Mon May 27, 2013
Hi lflood62,

If you are looking for a lease option you should know that option money or an option fee is required for a lease option contract to be valid. This upfront payment may be quite small (equal to one or two month's rent, for example), or it may be 3-5% of the purchase price. All of this money should go toward the purchase price or down payment on the home if you decide to buy the house at the end of the lease term, but unlike a security deposit, you don't get the option money back at the end of the lease if you can't purchase the house or decide not to. Also, you should take into consideration that typically (but not always) the monthly payments on a lease will include the fair rental value plus option money that will go toward the purchase of the home. Thus, the monthly payments under a lease option will usually be more than you would pay if you were renting the same house.

You can also lease a house with a first right of refusal. Usually in this scenario you don't put any money down, but when the owner decides to sell the property you'll be the first one to be notified.

Having said all that, what's your budget to lease a 3-4 bdrm house? Do you have pets? If dogs, can you provide weight and breed? When do you need to move in? These are all questions that a Realtor would need to know before starting to search for your house.

I recommend you find a Realtor that can help you in your search. If you need further assistance, please do not hesitate to contact me at 954-856-3156.

Best regards,

Nitza Ramos
Realtor & Lic. Community Association Manager
East Coast Realty Group LLC
Direct: 954-856-3156
Fax: 954-934-9530
Website: http://www.nrcv.com
**Blog: ask4realtor.blogspot.com
0 votes Thank Flag Link Mon May 27, 2013
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