T agree, the first step is to find a great realtor and create a relationship that you can count of! Second you need to be qualified by a good lender. Those are the magic ingredients to a successful buy.
Lisa Wetzel and Jim Valentine
Certified Distressed Property Expert, CDPE
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
Rent to own is really not a good idea, therefore consider fixing whatever is preventing you from purchasing outright. Rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright, or simply continue renting until a purchase can be made.... more
This depends on what you mean by "first-time homebuyer". If you are not on another mortgage it should not prevent you from getting a mortgage for yourself if that is what you mean. If you are talking about for instance using retirement money as a first time home buyer then ownership of another home may impact you. The best thing to do is to talk to a few lenders in your area and explain the situation and what you are looking to do and they will be able to help you best.... more