Rentals in Corona>Question Details

Marilyn Gord…, Renter in Corona, CA

Is there such a thing as a Rent to Own if there is i would be interested if i could find one in Corona.?

Asked by Marilyn Gordon, Corona, CA Mon May 7, 2012

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Hello Marilyn !!!

Congratulations on deciding to purchase your very own home !!! Prices are still low and rates are even lower - you really can't go wrong when the mortgage is cheaper than rent ;-)

However, I wouldn't let a friend or foe get into a rent to own, not in California.
1) You'll have to fix your credit ANYWAY to be able to purchase at end of the rent to own option date ( What, were you told you could buy with bad credit - sorry to burst your bubble )
2) Out of the hundreds of homes available in a community of your choice- you'll be limited to the one or two that the investor has available - Talk about a HUGE negative
3) Hate to think maliciously here, but is the investor's heart or bottom line driving the decision on selling a home that would otherwise sell today, with most likely multiple offers --- via a rent to own process that is geared at taking at least 2 years to sell.... figuring a typical investor makes his money by how quickly he turns a home and goes to the next ?!?!? -- this one surely gets a 'hmmmm'

In today's market where there is 0.5% down and ridiculously low rates - why muddy up an otherwise beautiful experience in buying your very own home !

Want a Second Opinion ? Have time for a cup of coffee to talk things over ????
Call me , I'd love to help you !

Most Kindest Regards,
Mario Gonzalez
JD Power & Associates Ranked #1 Buyer Satisfaction 2008, 2009, 2010
Chase Bank Preferred Agent 2008, 2009, 2010, 2011
Short Sale & Pre-Foreclosure Certified *
REO Buyer Agent & Distressed Property Certified
DRE LIC 01708214
1 vote Thank Flag Link Tue May 8, 2012
Be careful. What you agree to in price today in a contract, may be a bad price in the future. Google "rent to own" and "contract for deed" and read some stories about the risk. With loans so low in rate now, why would you put your money into something above the rental price and hope for the best? And why would a seller set aside some of your rent money to give back to you as part of a purchase price? Be careful.
1 vote Thank Flag Link Mon May 7, 2012
Very well said Carl.
Flag Mon May 7, 2012
Very tough to find rent to own properties, and if you do, the terms will likely not be beneficial to you. Rent until the minute you can buy, then BUY!

Good luck.

The Homefinding Center
Corona, Ca
0 votes Thank Flag Link Wed Aug 21, 2013
Yes, it's called a Least to Own option. However, in today's market it is a bit more difficult to find. I am a straight shooter, and have build my business with honesty and integrity. If you want all your questions answered, please call me :) (951) 258-5245

Sofia Chacon
Broker Associate DRE #01763659
1385 Old Temescal Road
Corona, CA 92882
(951) 258-.5245 Mobile
0 votes Thank Flag Link Fri Jun 8, 2012
Do these people actually have a real estate license? Damn, sometimes I wonder how they got one. Make sure you choose an agent who has a clue when you decide to make a move.

Good luck,
0 votes Thank Flag Link Wed May 9, 2012
Yes, It is called "Lease to Purchase Option". good luck!

Sydney Chang
C21 Town & Country
cell: 626.759.1611
0 votes Thank Flag Link Mon May 7, 2012
There is at least one investor that I know of that is working with renters on a Lease-to-Own basis in the area, give me a call and we can look at what they have available right now.
0 votes Thank Flag Link Mon May 7, 2012
Rent-to-Own or Lease Options do exsist, and in some markets make sense to pursue. However, as mentioned in other comment, there is an element of risk to the "renter"...research carefully.
Current market conditions are best suited to buy and own now. Interest rates are historically low and qualifying is easier than you might think.
0 votes Thank Flag Link Mon May 7, 2012
Yes there is, very tough to find though. Try craigs list.
0 votes Thank Flag Link Mon May 7, 2012
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