any leases with an option to buy opportunities in Prosper?

Asked by Briandrerup, Prosper, TX Thu Jul 5, 2012

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Sherry Renfroe’s answer
Sherry Renfr…, Agent, Frisco, TX
Thu Jul 5, 2012
Hi Brian-

It is really difficult to find a seller willing to lease with option. As it stands now, there are no homes listed for lease with the option to buy or seller financed.

I have a fantastic mortgage company that assists my clients with the credit to get them ready to buy. They will work with you and guide you throught the process. Town Square Mortgage, Jeff Jannasch, Executive Vice President, (972) 292-7599.

Feel free to text, call or email if I can be of any assistance.

Thank you,

Sherry Renfroe
Ebby Halliday Realtors
(214) 215-4145
1 vote
Ronda Allen, Agent, Plano, TX
Thu Jul 5, 2012
You'll find more homes for sale, than for lease, in Prosper. Find the right house, and then brooch the subject of a lease through the listing agent. Or, get your agent to do it. It's a common theme. But, you won't find lease to own - not a Texas thing. And, in my experience, most of the owners don't end up selling to their tenants. The tenants move on after a period of time to another home, or another neighborhood, that they like more, once they've had a chance to get to know the area well. I had one lease in ten years where the owner sold to their tenant. So, chances are it would not happen in this instance, either.

Best of luck to you,
0 votes
Andrea Brooks, Agent, Plano, TX
Thu Jul 5, 2012

As the others have said, lease options are terribly risky and not recommended. Are you planning to lease initially because you're relocating to the area or are there credit issues that need to be navigated? In either case it would be worth a chat to find out what your options are. Please feel free to call me if you'd like to discuss further.

All the best,

Andrea Brooks
Keller Williams
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Jul 5, 2012
BOTTOM LINE: Lease option to purchase NOT MATTER what you might read were ... is against statues in Texas.

Dallas Realtor ~ ~ I Specialize in Dallas Rentals & Apartment Locator

Recommend to locate a home you can lease when you are in a situation of recovery of your credit issues then proceed forward to potentially purchasing property.

Prosper homes for rent Prosper Tx

Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer

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0 votes
Melissa Hail…, Agent, Plano, TX
Thu Jul 5, 2012
As a buyer/tenant, you will want to be very careful when entering a lease with an option to buy in Texas. The Texas Real Estate Commission does not provide a promulagated form for Realtors to use in this type of situation because the circumstances vary so greatly. If you decide to lease a home, and you definitely want the purchase option, you should consult a real estate attorney when drawing up the lease.

Most people in your position decide to lease a home (without the purchase option) and near the end of their lease they can then re-evaluate the situation and decide if they want to renew the lease or look into purchasing the home at that time. This way the 2 transactions are completely separate (the lease, and then the purchase). You will also have more flexibility this way, as you may decide after a year in the home that this house just isnt for you after all and you are able to move out at the end of the lease without any loss.

If you need assistance with lease homes in Prosper, please feel free to contact me directly. I will make sure that you are represented by a professional Realtor.

Melissa Hailey - North Texas Top Team, Realtors
Coldwell Banker Jane Henry Realtors
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