Ms. Presley, Home Buyer in Richmond Heights, OH

I'm looking for a rent-to-own home. How do I find someone that can help me? I want to make sure that I'm not being scammed!!!!

Asked by Ms. Presley, Richmond Heights, OH Sat Jun 30, 2012

My credit score is low and I need a non-conventional way to purchase until I get my score up.

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Annette Law…, Agent, Palm Harbor, FL
Sun Jul 1, 2012
Ms Presley,
You are being very prudent acknowledging the predatory nature of the rent-to-own market. Some state have actually outlawed this practice. The reason is the overwhelming number of instances leaves the citizen much poorer than when they entered the agreement. This is the predictable outcome when a citizen feels desperate or feel they have no other options. Nothing could be further from the truth. But you must start right.

The reason you are seeking rent-to-own is because you can not get bank financing. This is serious, so please give it great attention. Identify a lender in your area who has a history of investing in the community through mortgages and small business loans. Meet with a lending official and enroll in their credit restoration program. They willl be able to tell you, if you execute you side correctly, when you will be eligible for a mortgage. Why is this important? It brings you face to face with reality. Rent-to-own is often a costly maneuver to escape reality. You may hear in 18 months you will be able to save $8,000 and purchase a home with a $175,000 mortgage. You see, now you know the exit to a lease option if that is still your choice. Here is how to find the bank. Go to:

You greatest ally in all of this is your real estate professional. This professional will be able to connect you to investors who are not predatory in their owner financed deals. If you call those investors who have the signs on the street. you are in very treacherous waters.

Wishing you the very best.
Annette Lawrence, Broker/Associate
Remax Realec Group, Palm Harbor, FL
0 votes
Aminah Alexa…, Agent, Solon, OH
Sun Jul 1, 2012
Greetings! I'm a licensed real estate agent at Keller Williams. I could contact over 75 agents in my office to see if they have any properties for rent-to-own for you. Contact me @
In addition, I can assist you with credit repair and raise your score. You CAN purchase a home with a score of 600 in todays market. There are also agencies I can put you in touch with to assist you with down payment assistance while you work on your credit. Is there a time frame which you are looking to move? Also, depending on the area you are looking to move in, I may be able to find you a rent-to-own. We need to talk first. Send me an e-mail and I'll give you my phone number and you can send me yours. Then we can talk further if you like! Sincerly. Aminah
0 votes
Jason, , Cleveland, OH
Sat Jun 30, 2012
Check out and all your problems will be solved.
0 votes
Ron Thomas, Agent, Fresno, CA
Sat Jun 30, 2012
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!
0 votes
Laura Davids…, , Cleveland, OH
Sat Jun 30, 2012
First I would work with an agent and get preapproved so you know what you need to do to improve your score. You will also know what programs are out there for you. My suggestion is to find a realtor in the area you want to live in, they know their market area the best. I can refer someone if you would like just contact me at 330-612-2493 or
0 votes
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