Do you have rent to own options ?

Asked by Suzanna, Davie, FL Fri May 17, 2013

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John Bourassa, , Fort Lauderdale, FL
Fri May 17, 2013
If you are presently in a rental unit and you are working with a Realtor, you can ask he/she to look up the possibility of rent-to-own; or, if you are not presently renting but you would like to rent with such option, again, work with your favorite Realtor who will help you find a landlord who is willing to consider selling his home to you after a lease period.

Good luck.
1 vote
Susan J Penn,…, Agent, Weston, FL
Fri May 17, 2013
Dear Suzanna,

We are in a market with a very limited supply of housing. Most owners are not very interested in this option, as if they want to sell their property and priced it right, it will sell. When you make a rent to own option you usually need to place a sizeable non-refunable deposit down to keep the owner interested.

Susan Penn, PA, SFR, CDPE
EWM Realtors® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326
T: 954.306.7337 | C: 954.557.5993 | F: 954.515.0200 | |
1 vote
Gus Hemmes, Agent, Fort Lauderdale, FL
Fri May 17, 2013
Hi Suzanna,

Yes rent-to-own options are out there. Single family homes, where the seller is giving the option, and condominiums, where the owner or association is giving the option.

Finding them not having access to the MLS is not easy, so you might want to consider a local Realtor!

Gijsbrand "Gus" Hemmes

Balistreri Realty Int.
2281 E Sample Road
Lighthouse Point, Fl 33064

954 258-8939 C
954 691-1839 O
954 691-1801 F
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Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Fri May 17, 2013
I hope you don’t find one, I have never known a “buyer” to succeed using this method. Don’t put up a lot of money on the front end. A lease purchase is probably not what you expect. Every single person (tenant/buyer) I have spoken to that has done one of these in the last couple of years have lost money, one guy lost $50,000 another lady $25,000 and the list goes on and on.

Do you have any idea what happens if the seller dies before you get title?

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
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