Rentals in Fort Worth>Question Details

Vanessa Hage…, Renter in Weatherford, TX

I'm looking for a rent-to-own home in Fort Worth, Arlington or Weatherford. What's the best way to go about looking for listings?

Asked by Vanessa Hagerty, Weatherford, TX Tue Oct 30, 2012

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This question was asked from this property: http://www.trulia.com/rental/3088884540-2701-Trinity-Valley-…

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6
John Reaves’ answer
Vanessa,

Rent to own is a little tough to find. I have one client that has a house in far west Fort Worth that he is willing to do an owner finance on. Give me a call and I will be happy to talk with you about it. Also, keep in mind a real estate agent can help you find something, but you will need a lawyer to draw up and or review the contract.

Thank You,
John Reaves
Keller Williams Realty
817-789-5542 (cell)
http://www.cowtownhomesales.com
1 vote Thank Flag Link Tue Oct 30, 2012
Nobody understands what "rent-to-own" means. If you live in Texas, you should keep those two separate in your mind. Lease it or buy it. If your credit score is too low, then rent a house while you clean it up. (Call me and I can help you with that process.) But who's to say what the price of the house will be AFTER you get your credit cleaned up? How long will it take?

Rent money doesn't apply towards the down payment. Rent is what you pay to live in a house when you can't qualify to buy one. Why should the Landlord give you any rent money back??

Lease it or buy it.

It's best to call a Realtor to get some truly good advice.

Be aware: A Realtor cannot even WRITE a "rent-to-own" contract in the state of Texas. It is against the law! And most attorney's won't touch it with a 10-foot pole either.

Rick DeVoss

ULTRA Real Estate Services

Certified Instructor in Credit Repair

817-300-6121

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Note to Justin: Get a Real Estate License before you get on here and try to give people advice.

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0 votes Thank Flag Link Mon Dec 10, 2012
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!
0 votes Thank Flag Link Thu Dec 6, 2012
Look on craigslist, avoid agents if possible. The seller will have to build their fee into the price you pay for your home.
0 votes Thank Flag Link Thu Dec 6, 2012
Secondly, you should be aware that a Real Estate Agent can't write a "rent-to-own" contract. It's aganist the law in Texas! Most attorney's wont even touch it with a 10-foot pole. If you have poor credit, you should rent awhile, and buy a different house when you can qualify for a loan. You could buy the one you are renting, but those negotiations would hve to kae place AFTER you get the credit cleaned up. Who's to say what the price would be then? Rent money doesn't apply toward the down payment. Rent is what you pay to live in a house when you can't qualify to buy one. Then when you are ready to get a loan, you still have to pay the down payment. Why should the Landlord give any rent money back? Nobody understands what "rent-to-own" means!
Lease it or buy it.
It's best to cal a Realtor to get some truly good advice.
Flag Mon Dec 10, 2012
You, Justin, need to know what you are talking about before you start trying to give advice to people on here, ...or any other website. If you are not a licensed agent, stop giving Real Estate advice. If you ARE a licensed person, shame on you! Vanessa did not need your inane comments.

First of all, you will lose more money trying to negotiate a real estate transaction by yourself than you will ever spend on getting an agent to help you. What's to keep the seller from screwing you? Do you think HE subscribes to a Code of Ethics like all Realtors do? Who is going to "win" in the transaction? Does the buyer "save the commission", or does the seller "save the commission"?? It is not mathematically possible for BOTH of them to save the same amount of money you are talking about. Who is going to give the buyer an honest analysis of the value of the house? What should he pay for it --- just what the seller is asking?? And you can bet that the seller is going to ask top dollar!
Flag Sun Dec 9, 2012
" MEETING YOUR NEEDS AND EXCEEDING YOUR DREAMS!"

I will support you in whatever direction you decide to take for that is your right. Please however note, rent to owns have a great deal of risk. You open yourself up to alot of chance. Contract for deeds are a thing of the past in many states. In fact within the last 10 years there has been many cases opened up of insurance fraud in regards to rent to own. Brief overview: Tenants living in estate having massive hail damage to their property, rightful owner/landlord pockets the insurance settlements and ghosts. This happens move times then you would ever guess. Contact me today so we can explore your options together. I will try my hardest to keep you safe in your investments. If your not interested I will just say please reconsider the idea of rent to own unless it is a close friend/family member.


Keller Williams Realty
Real Estate Consultant
Joseph Fernandez
cell: 817-975-7258
off: 817-635-1157
0 votes Thank Flag Link Mon Dec 3, 2012
John is correct,

Rent to own is very tough to find in Texas, and the reason for that is that the laws in Texas have made it virtually impossible to do. Your best best, as John pointed out, is to look for owner financing opportunities.

Best of luck to you,

Brian Rayl
B&B Realty Group - Keller Williams Elite
214-601-4192
Brian@Rayl-Estate.com
0 votes Thank Flag Link Wed Oct 31, 2012
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