There are many beautiful areas in Lancaster and really it does come down to preference and obviously, what you can afford. There are areas with easier access to things, areas that are closer to schools and parks or areas that are away from it all. Figure out what your definite "wants" are and then go from there with your agent.
HUNT ERA-Lancaster Office
Good evening. This home on Hinchey Avenue is in the Lancaster school district, they would attend Court Street Elementary.
Hope that helps, if you need anything further, please let me know. I would be happy to help you with your real estate needs.
Good income and money to work with are only 2 components of several criteria for mortgage qualification. Unfortunately, credit score is the most important before any others are considered. In all likelihood, an owner willing to hold the mortgage will also check credit.
Depending on the result of getting your "credit cleared up in the next few months," please consider contacting me at that time. Lenders generally require a minimum score of 640, and you didn't specify how far away you may be.
I may be reached at 716-685-9696 at any time.
Licensed Mortgage Professional
R & R FUNDING, INC.
E: ron@WNYMortgages.com... more
Keep in mind that the conditions have to be right from the seller's perspective. For example, the seller can't be in the position of needing all his equity immediately. So if the seller needs to sell his house in order to buy another one, the seller can't afford to do a lease-option or lease-purchase. Also, generally, the seller has to be motivated. If he's just put his property on the market to sell, likely he's focused on selling it . . . and so won't be open (yet) to a lease-option.
On the other hand, if the property's been on the market for months, especially if it's sitting there empty, the seller is likely to be a lot more receptive to a lease-option.
So, assuming the seller is financially able to do a lease-option and is reasonably motivated, here's what you say: "Mr. Seller: I'd really like to buy your house. It's just what we've been looking for. However, we're not in a position to buy it today. So what I'm proposing is that you lease the house to us for a year or so. We'll pay full-market rent, perhaps even a bit more than full market rent. That way, your empty house doesn't sit there empty. You'll be getting a rent check from us every month, and we'll take good care of your home. We'll agree to a purchase price now, so there won't be any surprises for either of us. And then, within two years--and we can set that date, too--we'll buy the house. You'll get exactly what you want--a sold house, plus rental income and someone taking care of your home in the meantime. And in the meantime, you'll have excellent tenants--us--who plan on buying. Does that sound like it would work for you?"
Make sure you're working with a Realtor who understands lease-options and lease-purchases. And have a lawyer help you with the option agreement. There are various provisions you should include to protect yourself.
Finally, here's a link to a blog I wrote on how to find lease-options: http://bit.ly/findaleaseoption
There are other factors besides credit that determine qualification, therefore visit with any local loan officer; after reviewing your overall financials, credit, debt, etc., a determination can be made; if you don't yet qualify, he/she may offer great suggestions as to what needs to be done in order to qualify in the near future....... more
Keep in mind that taxes do vary by exact location, property size, upgrades, schools, etc., if referring to a specific property any local agent can give you the information, or consider contacting the local tax assessor's office.... more
It all depends how bad do you want it, if you are just investing and have time to wait for the good deal, then go below market 5-10% if its a multiple offer and you really want it, I suggest to bid 15% above. That is a personal oppinion from my experience.... more