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Foreclosure in Santa Fe : Real Estate Advice

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  • Local Info12
  • Home Buying80
  • Home Selling5
  • Market Conditions21

Activity 5
Thu Mar 9, 2017
Anne Matano asked:
Wed Dec 2, 2015
Dan Tabit answered:
Ashley,

You don't. Rent to owns are rare and even more rarely are they a good deal for the renter/buyer. The vast majority of rent to own renter/buyer's never end up buying the house. They are a great deal for the landlord/Seller as they get to collect large up front deposits and over market rent only to do it all over again in the same house. I consider it basically immoral and predatory in most cases.

Resolving credit issues isn't rocket science and a local mortgage lender can and often do assist buyers with this. Many things you can do yourself, others the lender can direct or assist you with.

Most people in this position are far better off renting the least expensive place they can stand to live in and save up some down payment, get on a budget and fix their credit. Once you are qualified, you can select any listed property in your price range and you've fixed the issues that hurt your credit.
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Sun Jul 21, 2013
Spence Ralston answered:
As you may know, there are a variety of options available with rent-to-own/lease-with-option-to-buy /lease-purchase opportunities. Most sellers who will enter unto these agreements want a fairly sizable, non-refundable down payment (10% and up), and often there is an amount tacked on to the "normal" rent rate which will be applied towards the purchase price if the renter decides to go through with the purchase at the pre-determined date.
These sellers, after all, want to SELL their homes and in a rent-to-own or similar situation you are basically asking them to take their home off the market. They therefore want the potential buyer to have "skin in the game", i.e. have a financial incentive to go through with the original intent of eventually purchasing the property.

If this still interests you, I can provide a list of rent-to-own opportunities in the Santa Fe area. You can contact me privately:
Spencer Ralston
Barker Realty
505.231.1528
spencer@santaferealestate.com
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Fri Dec 28, 2012
Lou Gonzales answered:
Hi John,
I can help you look for properties and can provide you with addresses. Please call me.'
Lu Gonzales
Santa Fe Properties, Inc.,
505-982-4466
505-660-9099 cell
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