Is there a good way to find out if someone with a house for sale would consider leasing?

Asked by Kunz, Belton, TX Fri Apr 9, 2010

We are being assigned to Fort Hood and would love to live in the Belton area, but are not finding a lot of homes for lease for our family of 6 and in good neighborhoods. We hope to buy after living there for a year, and would even consider buying the house we are leasing if it is available. Any suggestions?

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10
Bkcancino, Home Buyer, Daytona Beach, FL
Tue Nov 27, 2012
does anyone have for sale in belton?
0 votes
Hope you found your house in Belton!
Flag Wed Oct 23, 2013
Janet Rand, , Belton, TX
Wed May 5, 2010
Would you consider a house in Temple? I have a 4 bedroom brick coming up there. If you are give my assistant Julie a call 254-231-4635. Tell her I sent an email about a Temple rental.

Janet Rand
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat Apr 10, 2010
Kunz,

I'd just go knock on the doors of the houses you are interested in. No easy way to do this.
My guess is this is a long shot, but I have seen it happen before. Most sellers can't lease.
They need the money from this house, to buy the next one. That's why I say it is a long shot.
It might be 1 in 50 or 1 in 100 that can do this, but you can always ask. You might have a nice
letter written too with the detials of you and your family, how much you are willing to pay, how long
you intend to stay etc. You can leave it with people you meet, or if they don't answer leave it on the door.
Good rentals are tough to find.
Web Reference:  http://www.teamlynn.com
0 votes
Kimberly Kin…, , Clackamas, OR
Sat Apr 10, 2010
This is a great question. In Oregon you can put lease-option in your terms to sell your home. We can look in the MLS for these specific terms.

I am working with a buyer- who is looking for lease option too.

If a property is not listed as lease option, I just call the listing agent and ask. I'm finding that really motivated sellers including builders are willing to consider a lease option. call a local Realtor and ask if they can help you.

Best of luck
0 votes
Don Tepper, Agent, Burke, VA
Fri Apr 9, 2010
Sure. It's done all the time.

I wrote a blog on how to find lease-options and rent-to-owns. It's at http://www.trulia.com/blog/don_tepper/2010/03/how_you_can_fi…

I'm not necessarily suggesting that for you--though you do raise the possibility yourself. But the situation is exactly the same. You're trying to find someone with a house for sale now, and you're trying to convince them to lease it instead. My blog will explain how to find those people.

To summarize (and read the blog; it's much more detailed), you want people who don't need all their money out right away. Often, the most receptive owners are those with vacant properties. They've moved; they're still making payments on the house but now there's no money coming in. Your pitch, basically, is: "Gee, it must be painful to have that empty house just sitting there, not selling, costing you money every month. I've got an idea that might help. Why don't we lease the home from you for a year. We'll take good care of the house, and you'll get your rent every month. In a year, the real estate market may have improved and you might have an easier time selling, and for more money."

If you like the house enough to consider buying it, your pitch is: "Gee, it must be painful to have that empty house just sitting there, not selling, costing you money every month. I've got an idea that might help. We'd like to rent your house for a year, and we'd even like the option of purchasing it. We'll take good care of your house, and you'll get your rent every month. And we're serious about buying, so we'd really like to have the option of purchasing it, too." Just be careful; Texas has some restrictive laws on how to structure lease-options. But it can be done. Or there's a technique using a land trust that'll accomplish the same goal.

Also, as Naima suggests, another group of sellers who'd be receptive are those with long days-on-market, whether or not the home is vacant. And look for properties that are listed both for sale and for rent.

Anyhow, read the blog.

Hope that helps.
0 votes
T.E. & Naima…, Agent, Dallas, TX
Fri Apr 9, 2010
You can ask your Realtor to check on those homes that have been on the market for a long time. Although the selling season has started with a bang, at least here, many sellers don't want to miss out on a home buyer at this time.

All you can do is ask.

Naima
0 votes
Lisa Jay Real…, Agent, Georgetown, TX
Fri Apr 9, 2010
I would suggest that you talk to a REALTOR and let them know what your situation is. They know the areas better than anyone and can suggest neighborhoods that may fit your needs. In Belton, I'd suggest Lakewood, Northcliffe, Red Rock, Riverplace.... I am sure that there are others that I am missing, but these usually have a few rentals and are VERY good neighborhoods. Lisa Jay, REALTOR Coldwell Banker United, REALTORS
Web Reference:  http://www.JayRealtors.com
0 votes
Pelin Guzel, Agent, Dallas, TX
Fri Apr 9, 2010
Dear Kunz,
Talking with a local Realtor may help, some sellers may consider renting their homes if the home is on the market long time. Your Realtor may have to call them to learn more about it.
Good luck,
Pelin
http://www.dallashomelist.com
0 votes
Pat & Steve…, Agent, Westlake, OH
Fri Apr 9, 2010
Try Trulia's new "Rent" button at the top of the page beside "Buy."
0 votes
Mack McCoy, Agent, Seattle, WA
Fri Apr 9, 2010
Nope.

It's not as if people who are selling their homes aren't ever interested in leasing, but those people are few and far between. And, real estate agents (shh! don't tell anybody) aren't always terribly keen on the idea because, essentially, it means the loss of a potential commission.
0 votes
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