is there any houses rent to own at all?

Asked by Leidi, Del Cerro, San Diego, CA Sat Jun 9, 2012

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Tina Lam’s answer
Tina Lam, Agent, San Jose, CA
Tue Jul 17, 2012
Yes there are. Speak to a few Realtors in your area to see if they have any leads on those. Or, just go speak with some property managers who may know of owners looking to do a lease-option.
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Jerry Heard, Agent, San Diego, CA
Sat Jun 9, 2012
There are some rent to owns, also called lease with the option to buy, but it may be a complicated transaction. Usually you are paying over market rent and a portion of the rent is applied to a pre-deternined sales price. You usually have to put up some option money to secure the deal. Your risk is what will be the value of the home in a few years and what will interest rates be at that time when you need to get permanent financing.
If you can, buying now using some low down payment programs may be a better option.
Best of luck. If you have any questions, please contact me.

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Jerry Heard
Your Broker
The San Diego Property Shop
Direct 619-920-9796
Office 619-269-5545
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CA DRE # 00648687
0 votes
Cindy Davis, Agent, San Diego, CA
Sat Jun 9, 2012
It's a good question and the truth is that I see very few these days. Rent to owns are not all that popular with sellers. If a seller needs to sell for financial reasons, renting a home out may not always meet his or her financial needs.

Generally, rent to own sellers offer that option when their home isn't selling and has been on the market for awhile. An owners must have equity in order for this to even be an option for them.

Rigtht now, listings are flying off the shelves. There is very little for sale and good listings sell quickly. A seller doesn't need this option at the moment.

My question to you would be why are you looking for this? Are there issues with your credit?

If so, I think your time would be best spent trying to get your credit up so that you can buy when you are ready to...

Good luck.
0 votes
Stephen Boli…, , San Diego, CA
Sat Jun 9, 2012
Good afternoon Leidi,

What it is typically refered to as seller financing or a contract for deed depending on where you live. It is a common practice in which you want to make sure you structure the contract/offer in which all parties are in agreement. THERE ARE MANY FINITE DETAILS and I would recommend you have representation on your behalf. If you would like to discuss this in further detail I would be happy to provide you with further insight anytime.
Stephen Boling
Prudential Dunn
Dre License 01864661
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