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Sheridan : Real Estate Advice

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  • Local Info1
  • Home Buying4
  • Home Selling0
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Activity 8
Tue Dec 1, 2015
Nancy Lindsey Burris answered:
What is the average price for building a home in fayetteville ar by square foot
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Wed Jan 1, 2014
Judy Luna answered:
Check with the county records. They will usually have the current owner. And if it is not a bank, then ask to see a copy of the mortgage document from when the owner purchased the property. That may give you the name of the lender. However, the mortgage that was recorded when the owner purchased the property may no longer be the holder of the mortgage, since many times mortgages are sold to other banks after closing. In any case, talking to a knowledgeable person at the county should be your first step. They may also be able to tell you if it has been scheduled for auction. ... more
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Mon Oct 14, 2013
Keith Jean-Pierre answered:
I would suggest you try the regular rental sites:

http://www.craigslist.com
http://www.apartments.com
http://www.trulia.com (Rentals Section)
http://www.zillow.com (Rentals Section)
http://www.realtor.com (Rentals Section)

Between all of those, you will get a very clear picture if you can find what you are looking for. Good luck!
... more
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Tue Jun 4, 2013
answered:
Good afternoon laurieclark40,

Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

The basic concept is finding a way to "force" savings towards a down payment by including a portion of the monthly rental that goes towards that savings. You pay your rent every month and your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account. Your Landlord holds that money until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.

The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

It's all about helping the renter/tenant save up enough money for a down payment to buy a home (in this case, the one you're renting). But this is a better deal for the Seller because he gets to lock in a purchase price and a buyer today for a future sale.

Saving money for a down payment? Well, heck, you can do that on your own.

If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.

Find a way to save up on your own; not with Rent To Own.

Sit down with a local Mortgage Banker and get yourself prequalified, too. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Mon Feb 4, 2013
dkeisler1 answered:
I have a 3/2 home in Sheridan Im selling rent to own. Send me your email or a contact number and I will get you some pics and more details.
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Mon Feb 4, 2013
dkeisler1 answered:
Dani, I do have pics. It will not let me post them in the " questions" section so if you would like some pics I will need an email address. Thanks
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Fri Feb 1, 2013
GrandersonDavid answered:
A really nice house in Sheridan will go for around $90 per square foot.

An average price is in the $65 to $75 range.
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