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Lease Options All Locations : Nationwide Real Estate Advice

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Showing results for Lease Options [Clear search]
Wed Apr 24, 2013
Elena Talis answered:
It depends on the lease. If she is in a middle of a year lease you should talk to her and find out on which conditions she will agree to move. It is much easier if she is on month-to-month. ... more
0 votes 8 answers Share Flag
Thu Oct 24, 2013
Ron Thomas answered:
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

There is no FORM printed by anyone; there are just too many variables.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!

Good luck and May God bless
... more
0 votes 4 answers Share Flag
Tue Apr 16, 2013
John Bourassa answered:
Hi Angielee,

Anything in close walk to any beaches in the entire country is always a good to a best neighborhood to be in for they are by far the #1 locations every one wants (or, at least, dreams to one day live on a beach). Remember the old saying: "Location, location, location!).

That being said, if your husband is to work in Fort Lauderdale, then, Fort Lauderdale's "east-side" (along the beach) will be where to look (if your husband will work north Fort Lauderdale, then you can also consider south Pompano Beach, and so on). But, if you don't mind long commuting drives, then, Delray Beach (about 25 miles away) or South Beach (also 25 miles away) are also great areas to live.

However, Fort Lauderdale is really a small town with a big, BIG attitude loaded with tons of civic activities, theaters, zillion of restaurants, exciting night life, GREAT SCHOOLD (public or private) and a huge International Airport only 15 minutes drive to. If you get bored living in Fort Lauderdale, don't blame Ft Lauderdale ;-)

For your budget of "...up to $2,000/month..." it should not be difficult to get you in a condo (not a house) within a short walking distance to the beach on a yearly lease. If you want a house, you will need to be in-land within 10-15 minutes drive to the beach.

Welcome to Fort Lauderdale!
... more
0 votes 5 answers Share Flag
Wed Apr 10, 2013
Jim Olive answered:
Okay...first off it is NOT bullying!! Nobody can answer this question without reading your lease. What does it say about guests/visitors? Your landlord cannot make unreasonable rules that aren't covered by the lease. ... more
0 votes 3 answers Share Flag
Thu Sep 8, 2016
Ron Thomas answered:
You GOOGLE "storage, oakland"
or you can let your fingers do the walking thru the Yellow Pages.
New ideas!
0 votes 21 answers Share Flag
Sun Jun 16, 2013
Jory Blake answered:
Yes! I specialize in this area of Real Estate and have published blogs ( http://riversidehomesales.blogspot.com/2013/03/moveuphomepurchaseriverside.html) specific to this topic.

In California, I utilize the CAR form LSA , Lease After Sale Agreement.
When properly executed, it creates a legally binding agreement for the proposed buyer to accept a specific amount from the seller to allow time in the property after the sale is recorded as well as who pays for other items such as taxes,maintenance , utilities,etc.

I have had much success and zero failure assisting sellers accomplish this. I would advise you to seek a listing agent who is skilled and proven in this area. If not done properly , there can be a lot of confusion and disarray.

I'd love to provide you a quote and more details!


Jory Blake
951.742.3751
... more
0 votes 11 answers Share Flag
Sat Apr 13, 2013
Tarus Rhinehart answered:
Hi. If you are looking for a rent to own home or lease option, I may be able to help you find some suitable options. Call me at 252-886-1102 or email me at tlrhinehart@gmail.com if you would like more information. Thanks. ... more
0 votes 1 answer Share Flag
Mon Apr 8, 2013
Bruce Lynn answered:
List it with an agent as an investor property and sell it with the tenant in it.

No showings until you get a contract.

There are investors who want to buy properties that are leased already.

Makes sense for all parties involved.
... more
0 votes 6 answers Share Flag
Wed Jun 5, 2013
Donna Watson answered:
Hi, Need to know what your limit is on monthly lease amount. Do you plan to move this month or later? Let me know and I'll be happy to sent you information. If you see something you would like to preview, just let me know. Thanks for the contact. Best Wishes Donna Watson 512-423-4606 cell ... more
0 votes 4 answers Share Flag
Mon Apr 14, 2014
Sandra Lehtonen answered:
Hi Alison,

Thank you for writing in. This is a great question. There are a few options available to the homeowner who is facing foreclosure. They are as follows:

For a temporary fix:
1. File Bankruptcy;

For a more permanent fix:
1. Contact your current lien holder to request a loan modification;
2. Contact your current lien holder to ask about a Deed in Lieu of Foreclosure;
3. Foreclosure.

I hope you find this information helpful.

Thank you,

Sandy
... more
0 votes 10 answers Share Flag
Thu Jun 19, 2014
Mandy Fritsche answered:
Hello: We are able to lend on an FHA loan down to a 580 credit score. Are you and your spouse now employed again after the failed business? Did you have any Bankruptcy or Foreclosures in the last 7 years? Every situation is unique so I would like to discuss yours in more detail. Please feel free to call me or fill out an online applicaiton on my website:

Mandy Fritsche, Mortgage Loan Officer, NMLS# 557211, Prospect Mortgage,
262-327-5700 Cell, 877-868-9198 Fax, mandy.fritsche@prospectmtg.com
www.MyProspectMortgage.com/mfritsche
... more
0 votes 9 answers Share Flag
Sat May 11, 2013
Kevin Cooter answered:
The first problem you may not be aware of is that you don't "own the lot" 4607 Gray Fox sits upon. The monthly lease fee of the lot is 400.00 additional. I wouldn't worry about where the fires were---- that area is 15 miles to the east of these homes near Gray Fox. The other problem is that this home is already under contract.. It went UC on 3/15.

It's always best to get a personalized list of homes emailed to you that fit your requirements. I also send you your own personalized web site so you can keep up-to-date with the newest listings. If interested, please contact me. Best wishes,

Kevin Cooper, Associate Broker, Keller Williams Performance, 719-240-3300
... more
0 votes 5 answers Share Flag
Mon Apr 8, 2013
Marlene Bienes-Realtor answered:
Stephany,

I want to first start by saying that renting to own is a very risky and complex option in owning a home and I strongly recommend you hire a buyer's representative or an attorney to assist you in navigating through this option. Your interest need to be protected more in this type of option. Or you could set yourself on a budget plan with the goal of owning your home through conventional methods. Think about eliminating your highest interest debt in order to bring your debt ration down. Contact a mortgagr broker that can assist you with htis plan.

best of luck
... more
0 votes 10 answers Share Flag
Sun Apr 7, 2013
Don Tepper answered:
Yes. Of course, if by "nontraditional credit or alternative credit" you mean something other than getting a standard mortgage.

There's owner financing. Then there are things like lease-options, lease-purchases, contract for deed, and so on. There's a technique called "Subject To" in which the owner deeds the property to you but the mortgage remains in his name. There's equity sharing and co-signing, where you're relying on someone else's good credit in order to purchase.

And that barely scratches the surface.
... more
0 votes 4 answers Share Flag
Sun Aug 4, 2013
Mike Disney answered:
Your best value is with an FHA loan. Yes, solutions are available for you.
0 votes 12 answers Share Flag
Mon Jun 17, 2013
Tony McMahon answered:
Please feel free to contact me to discuss your plans in more detail, and what options may be available to you .
0 votes 3 answers Share Flag
Sat Nov 9, 2013
Michael Hammond answered:
Contact a Lender, Stacy, to best determine where your credit and credit worthiness is at this point. Then listen to what they say and follow up in regards to improving that enough to accomplish your goal. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com

http://www.SellsRealty.org

http://www.city-data.com/

http://www.greatschools.org/
... more
0 votes 8 answers Share Flag
Wed Jun 12, 2013
Geoff Ommen answered:
Mrs. S.

Before i get into rent options, have you talked with a mortgage broker to understand if can get financing for a 2nd home? That is the least costly way for you to get into a 2nd property. As to rent vs sell your current home, that would totally depend on your overall strategy.

Rent with option will require you to come up with a non-refundable down payment for 5-10% of the purchase price. I work with investors that fund these types of transactions and try to structure them as a win-win for everyone involved. We allow you to select the home that you like, purchase it, and then set you up with a lease option. If this is something you would like to know more about, feel free to reach out.

Geoff Ommen
Broker Baird & Warner
847-271-2622
geoff.ommen@bairdwarner.com
www.geoffgetsit.com
... more
0 votes 6 answers Share Flag
Sun Apr 7, 2013
Ron Thomas answered:
Don't know where Wildwood is; some areas of the Country handle Lease/Options differently:
As a rule, L/O is not a good way to go; You are the mercy of the Seller who can dictate the terms, it is full of pitfalls, it is way more expensive than using a Lender, and the Seller does not report to the Credit Agencies, thereby improving your Credit Score.
I will state that Lease/Option is the ultimate "Caviat Emptor"!

4 years should be enough time; you should be able to get a loan.
I can recommend a Mortgage Specialist who works in all 50 states; he's honest and knowledgable.
Shane Milne, and you can e-mail him at shane@thebesthomeloans.com
He is regiatered on Trulia; you can look up his PROFILE and RECOMMENDATIONS.
Look for the VIEW A TRULIA VIP and chick it.
Good luck and may God bless
... more
0 votes 3 answers Share Flag
Sun Apr 14, 2013
Mark McNitt answered:
Jennifer,

It does not work!

Rent to own is a very complicated transaction that requires attorneys, a FOR SALE contract with an agreed to sales price, closing date, temporary leasing for just a month or two before closing, a large deposits that are non-refundable if you don't close and more.

Most future buyers simply rent and then discuss buying the home later after the tenant has secured financing through their own lender. Getting owner financing is tricky and can be a possible rip-off to you as well.

If you cannot afford to buy due to a lack of funds, poor credit scores or low income, then don't do it. Get yourself financially prepared a good year before you buy. To see the steps, visit my buyer's page on my web site. http://www.markknowshouston.com/buyers_roadmap_01.php

Mark McNitt
m 832-567-4357
Bernstein Realty, Inc.
... more
0 votes 4 answers Share Flag
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