This is a great area to retire too. I was born and raised in the area and couldn't ask for a better place to live. There is a large gathering of retirees moving here. We have it all, including fishing, golf, festivals, bird watching, warm weather (most of the time), etc. Feel free to check out the www.gulfshores.com. Feel free to email me with any other questions.
Yes (and sadly) there are ways to accomplish most anything. Since the term "rent to own" can mean different things to different people, I'll assume you're speaking of Seller financing. While Sellers can and do finance their own properties, you have to understand it's their game, and "their" rules. They will mandate the purchase price, the down-payment, the interest rate, the term of the loan, the late fees, etc., and all will be much higher than those represented in a "fair market" scenario. As such (it is my opinion) it will extremely difficult for you to get a fair shake. Also consider the very limited offering of such homes.
Carla, there are so many things that can go wrong - "Don't do it!" Instead, take your time and qualify for a mortgage.
If you have already found your "rent to own" house and are thinking to write a contract, you absolutely NEED an agent for an objective opinion of value, explanation of contract terms and conditions, and compliance with regard to disclosures. You also need the assistance of a title company to insure title is free of liens, defects, encumbrances and is 100% merchantable.
Best of luck to you!... more
Yes, the purchaser's financial requirements are the same. He or she will need to verify funds for down payment, income and credit obligations that meet required ratios. Depending on the stage of construction, they will be asked to furnish their house plans for appraisal and the mortgage company will require a certificate of completion before closing.... more
If it is listed with a Realtor then you need to contact the Realtor. If it is listed for sale by owner, then you can contact the owner directly. There are web sites that have for sale by owner listings.
Tammy Hayes, Realtor
Re/Max Palm Realty
Angie - your best bet is to talk with a local real estate agent who will refer you to a local lender. Together, they can give you a good idea of what to expect. In general, there are no more federal programs that permit purchasing with no money down, so the least is 3% of the sales price ($200K home = $6K down). But, that is using an FHA loan - which is easier to use in some markets than others. Also, an agent can tell you if you can expect to be able to negotiate assistance with closing costs, or if you'll probably have to pay that at closing, too. Email me with your contact information, and I'll be happy to suggest a local agent to assist you. email@example.com 703-669-3142... more
Principle, interest, taxes, insurance and the term of the loan can also impact the monthly amount.
Your mortgage company should give you a break down of your estimated payments.
If I may be of any further services let me know...
Congratulation !!... more
Local law enforcement is the best source for that data and accompanying statistics. Once you find a rental that is convenient to the baseball stadium, check with the police department regarding your safety concerns about the area.... more
There may be some very good qualities of a DR Horton home, as there are with other area "box" builders. For instance, you do get a lot of square feet for the $ per sqft sales price. However, there should be no confusing a "box" or "production" builder with a true custom builder. My company, Monarch Homes, is a custom builder. We design and build your home just as you want it from the beginning. We nurture our relationships with our Owners to form a partnership in the construction of your new home. Our Owners are involved in every phase of construction, working hand in hand to build your "home"....not just a house. Typically, with a "box" builder, you sit down at the beginning with a sales rep, pick out the options and upgrades that they offer to their limited existing plans, sign the deal and then come back when the home is finished to close.
For more info on Custom Builder please contact me directly. Thanks.
Fairhope Realty Group