do you have any rent to own in misquite,south Dallas,Oakcliff 3or 4 bed rooms with den?

Asked by Galinda Smith, Dallam County, TX Fri Nov 19, 2010

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8
Kenneth "Ken…, Agent, Dallas, TX
Fri May 6, 2011
Rent To Own is very tricky today and can be a BIG mistake. If you really can't buy through a lender/bank, just wait till you can. Here is why: 1. You are paying your mortgage to your lender (the seller) and he doesn't pay his mortgage, he loses the house in foreclosure, you lose the house and your money. Plus, you will probably not know until the constable shows up to evict you from "your" house. This is a huge problem right now for thousands in Texas. You get nothing if he defaults on the loan and you lose the house because he didn't pay his mortgage. 2. I would contact a lawyer for more advise and consult. Contact a lender and they will for free pre-qualify you for a loan. If you don't qualify they will tell you what to do so you can qualify. FOR FREE. If it is not FREE, just run and call another lender. Just be careful okay. BEST OF LUCK.
2 votes
Patterson Ra…, , Austin, TX
Sat Nov 20, 2010
Galinda,

Once you've found the home you want to rent to own, be sure to get yourself a good real estate attorney to help you with the transaction. Why? There are both trustworthy and untrustworthy people out there. Although it may cost you money up front, it's worth it.

The mother of one of my clients recently lost her home in a rent to own transaction. She paid the owner $20,000 down two years ago and made every monthly payment on time since then. The owner however, wasn't paying the bank (mortgage) with her payments and the bank is foreclosing on the property. She's out all the money she's paid and all the updates she's done to the home. She did not use a real estate attorney.

There may be other alternatives to rent to own. Have you spoken with a real estate agent or lender? You might consider that first if you haven't. Good luck.

Best Regards,

Rich
RE/MAX Urban
Web Reference:  http://www.richpatterson.net
1 vote
Jan Pickering, Agent, Florence, AZ
Wed Feb 18, 2015
I have came across a few rent-to-own properties in my time. Not one of them ever worked out.
0 votes
Edward Maddox, Agent, Florence, AZ
Tue Feb 17, 2015
You are right Ken, most of the rent to own do not do well.
0 votes
Sarah Montes, , Dallas, TX
Wed Jan 26, 2011
I CAN HELP....

~ 5% Down Payment ~ NO CREDIT CHECK !

EMAIL ME FOR MORE DETAILS ~ FundingNow@Live.com ~

OR VISIT OUR WEBSITE ~ http://www.FUNDING-NOW.net
0 votes
Amy Arey, , Dallas, TX
Tue Nov 23, 2010
I have a listing that is a motivated seller....priced at only $98,000 (slight foundation issues, but has only affected the appearance) at 512 Feathercrest in Mesquite. Feel free to take a look at my website below for photos, virtual tour and details. She was just pondering owner-financing today...
0 votes
Dfw Leasing &…, , Dallas County, TX
Fri Nov 19, 2010
There are several lease to own properties in those areas. We work hand in hand with several mortgage brokers that can assess what someone needs to accomplish in order to qualify to purchase the home. There are many ways to manipulate the credit report and see what happens when there are certain changes made in someone life.
I have seen clients that get promised they will be able to purchase a property after a year and whatever program they use they actually hurt their credit more than they help it. That is why we have been utilizing mortgage professionals familiar with raising the credit score.
Let me know if I can help you further.
0 votes
Dallas Texas, Agent, Dallas, TN
Fri Nov 19, 2010
You need to identify what your monthly budget is regarding your search. If you are an agent you should be able to use MLS for search.

Craigs list we are well aware have many scams. Best work with listing agent AND you are agent handle transaction.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
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