is there really a rent to own program in Texas?

Asked by Mrs.sylvia Ronertson, Lancaster, TX Mon Apr 18, 2011

For a family with 4 little girls

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Answers

9
T.E. & Naima…, Agent, Dallas, TX
Wed Apr 20, 2011
We can help you locate a property that might fill your needs, but the state law is pretty clear on this:
Realtors cannot write a contract that is executory for more than 180 days - only an attorney can. So, we can find the property, negotiate the deal, but it requires an attorney to draft the contract.
Secondly, owners selling on such contracts are under such an onerous burden of reporting that many of them simply don't want to sell that way.

I actually receive lists of owners offering such deals, but the terms are not pretty either. Typically, they're looking for 8-10% down payment in cash, plus other terms that often scare off potential buyers.

Executory means that the right to purchase extends from the time of execution until closing over 6 months into the future.

There are other possible solutions, but rent-to-own is much more difficult to do in Texas than in past years and other places.
Web Reference:  http://www.SumnerRealty.com
1 vote
Dp2, , Virginia
Tue Apr 19, 2011
I invest in DFW (and in other markets), and TX is very lease-option (aka rent-to-own) unfriendly. Technically, a landlord/seller can only structure such a deal with an option period of up to 6 months, and many experienced real-estate attorneys strongly would prefer to steer their clients to use an installment contract instead.
1 vote
David Tansey, Agent, Houston, TX
Tue Apr 19, 2011
There are no contracts put out by the Texas Real Estate Commission for realtors to use so we generally don't do them. Most rent to owns are done by owners selling their ownproperty. I would search for sale buy owner listings. Just fyi, these are genrally not the best deal. I would look at downpayment assitance programs in your area. There are programs that will give youo a grants you don;t have to pay back. Example: http://www.tdhca.state.tx.us/homeownership/fthb/down-payment…
Contact a local lender or realtor they can help you.
Web Reference:  http://www.DaveRealty.com
1 vote
Apageme, Home Buyer, Lancaster, TX
Mon Sep 26, 2016
Is there also a rent to own home in Arlington texas for a single home 2 bedrooms?
0 votes
Lowre_robers…, Home Buyer, Lancaster, TX
Sun May 15, 2016
Can I rent to own home in my name only if I'm married
0 votes
Rick Baker, Agent, Frisco, TX
Mon Apr 18, 2016
I am a Realtor with Coldwell Banker in DFW. Coldwell Banker offers an amazing series of options that let you do things that are unheard of. As the Largest Real Estate firm in the world we can do things that you have never heard of. This program leverages all the strengths of Coldwell Banker to get you into a home that YOU pick. Then we help you improve your credit profile so that you can ultimately buy it... IF you wish.
By the way you are never under any obligation other than a one year lease and you are NEVER obligated to test drive a home and test drive a neighborhood while you are paying fair market rent for the area.
Leverage the power of Coldwell Banker's 109 year history of helping more people get into the home that they wish.

I am the #1 Coldwell Banker Realtor for this program in America and can show you how to get onto the path to Home Ownership. By the way this program is now offered in most major metro areas in the country!

Rick Baker
972-836-8880
Coldwell Banker Residential Brokerage
7410 Preston RD
Frisco TX 75034
MetroDallasRealEstate.com
0 votes
Rick Baker, Agent, Frisco, TX
Mon Apr 18, 2016
I am a Realtor with Coldwell Banker in DFW. Coldwell Banker offers an amazing series of options that let you do things that are unheard of. As the Largest Real Estate firm in the world we can do things that you have never heard of. This program leverages all the strengths of Coldwell Banker to get you into a home that YOU pick. Then we help you improve your credit profile so that you can ultimately buy it... IF you wish.
By the way you are never under any obligation other than a one year lease and you are NEVER obligated to test drive a home and test drive a neighborhood while you are paying fair market rent for the area.
Leverage the power of Coldwell Banker's 109 year history of helping more people get into the home that they wish.

I am the #1 Coldwell Banker Realtor for this program in America and can show you how to get onto the path to Home Ownership. By the way this program is now offered in most major metro areas in the country!

Rick Baker
972-836-8880
Coldwell Banker Residential Brokerage
7410 Preston RD
Frisco TX 75034
MetroDallasRealEstate.com
0 votes
This sounds too good to be true. Is there a cash downpayment? We are a Military couple , and will only be in the area 2 years. We DO NOT WANT TO BUY ONLY RENT Would this be a good deal, as the rental Market is very low right now .
Flag Mon Apr 25, 2016
Cary Beach, Agent, Cedar Park, TX
Mon Jan 18, 2016
Yes there is I represent a Investor that will buy your home and lease it back In TEXAS it has a Limit of 3 years many other states it is 5 years. I am in the Austin TX area and YES I can help you!
CARY BEACH
RE/MAX 1
512-820-4998
0 votes
Hello
I am so happy someone asked this question. My family and I are moving to Austin from Chicago by the end of the year. We are looking for option with the "lease to own".
Flag Mon Feb 22, 2016
Zyre Sullivan, Agent, Arlington, TX
Fri Dec 18, 2015
We have a lease with the right to purchase program in which we purchase the property of your choice and lease it out to you until you can assume a mortgage. You receive a three year right to purchase.
0 votes
How does this work exactly, when you have the possible 20% down but your credit score is around 540 & on disability? I am looking to buy in Hurst Tx around 148,000- 160,000 if possible. My contact info is staceylester30@gmail.com.
Flag Mon May 8, 2017
I would like to know more about your program
Flag Sat Jan 21, 2017
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