i would like a home to rent with option to buy in New Jersey

Asked by Maria Feliciano, Freehold, NJ Tue Nov 6, 2007

I would like to rent a home with option to buy in the area of freehold or howell New Jersey. I would need a four to five bedroom with two to three bathrooms. In this i would like a finish basement and a two car garage.I have two children one is seventeen and the other one is four years old and my in-laws are going to be living with us also. I would like a nice yard and lawn as well.

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Bill Turano, , Select Mortgage 1715 Rte 88 Brick, NJ
Fri Nov 9, 2007
First, I would talk to a mortgage banker and see if you buy a home instead of renting with an option.

Why buy?

Rates are low.

There are many homes on the market. So, a seller may be more willing to negotiate.

There is still no money down loans available. In addition, the seller can pay all of the closing costs

You can start building equity now.

Bill Turano -Senior Vice President
Select Mortgage
1715 Route 88 West Brick, NJ 08724
Web Reference:  http://www.billturano.com
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Heather Dacc…, , Monmouth County, NJ
Fri Nov 9, 2007
Rent with option to buy can be difficult to find and may require a down "option" payment. My office is located in Freehold and I live in Howell so I am very familiar with the area. If you need additional help please contact me and I would be happy to show you all the options. Thank you.

Heather Daccurso
Weichert Realtors
Office 732-577-0440
Cell 732-580-5309
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Diane Glander, Agent, Spring Lake, NJ
Thu Nov 8, 2007
There are 3 homes available in Freehold that meet all your specifications. If you would like me to email you the listings, contact me through my profile on Trulia or via my website, below.
Web Reference:  http://www.dianeglander.com
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Deborah Madey, Agent, Brick, NJ
Tue Nov 6, 2007
If you would like to call me to discuss, I will be happy to speak with you. We are based in Monmouth County and have agents who service your area. I would like to learn why you think a lease/option is a better route than direct purchase. In some cases, it might be. More often than not, it is not the best route. There is usually more downside for the tenant/buyer than upside. I would need to know more about your particular circumstances in order to expand further on that.

Feel free to expand here and I will check back on this thread, or alternatively, you may contact me via email or phone below.

Deborah Madey - Broker
Peninsula Realty Group
732 530-6350
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x, , x
Tue Nov 6, 2007
Does it have to be less than $2,000 a month as well?
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Theresa "Tra…, Agent, Matawan, NJ
Tue Nov 6, 2007
Hi Maria,
Rent with an option to buy is a great way to get into a home. People often look to this option when they have credit problems which prevent them from getting a mortgage or not enough money for an adequate down payment. There is not much upside to rent to own, if you can qualify for a mortgage. This is because an option usually requires an "option consideration" of several thousand dollars and it is usually not refundable if you don't eventually buy the home.

What can we do to help? Are their other specific questions you have about this type of real estate transaction.

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