Renting a house but want to buy it?
99167
You might want to ask them if they are interested in a lease option. If they say no then you are likely out of luck for now. If they say yes then they are willing to sell it after a while.\n\nThey most likely want income for quite a while, and they might just not want to sell to someone that they suppose would not be able to buy. \n\nThe best bet is to keep renting it and keep asking. In a few years their whole motivation may have changed. If they know you want to buy it you will be the first they go to to avoid the commission. You need to keep reminding them in a nice way, don't beg and plead, just tell them if they ever change their mind and you haven't found something better you would be interested. You will likely have to pay a bit of a premium to convince them which might not be the best idea.\n\nConsider being an expert on the area you want to live and watch for properties that are being sold by other investors. If you see a house being sold to someone that looks like they want to flip it, or at a minimum lease option it, talk with them right after they buy it and tell them of your interest. You might be able to get a house nearby that you like for a better deal. And if you get to them first they might even paint it your favorite colors.
1139501
Find a sublet-er? Ask the lease holder if you can buy your way out?
99225
Actually, I think there are a few points to this question. First, what did YOU do to prequalify them to purchase the house in the first place?  Many LO landlords really don't care if the renter ever buys, they keep the LO money and either let the tennants go month to month, or let them move on.  So, assuming you want to sell the house, do a better job upfront of finding tennant buyers.  Pre qualify them.  1. Do they have all of the option consideration money upfront, with no payments (this means they have a lump sum or were able to save the money).  2. Does their current employment make it so they are able to make the payments on the house comfortably.  You can look at their income, and their outgo, and compare it like a lender does (that is what I do).  THey should not spend over 41% of their monthly income for, all items on the credit report, monthly payments, the principle and interest and taxes and insurance on the house. IF it is obvious they will be short...you probably want to look for the next buyer. But finally, if they will be renters until they exercise their option contract, do a smart upfront check on them as renters. First, do a criminal check on them, if they pass that, then look into the other items such as credit and references. If you find someone you like, then go to their neighborhood, drive it, and then call and ask if you can stop in.  If they are happy to let you come see them in their current home, you will get a feel for  how well they are going to take care of your property.  Due Diligence is important. Im not a lawyer, and if any of this info is wrong, it is simply my opinion.
919146
Sure the other wants to buy a house with the one????
875032
It's not entirely impossible. How's your credit? Have you or your spouse been working at a job for 2 years or more? With paying rent, can you provide rental verification? Have you ever claimed bankruptcy, if so how long ago? There are a lot of houses for sale with the owner offering to pay towards closing costs. And if you have good enough credit, you may be able to come into the loan without a down payment and also have the luxury of the seller contributions. Depending on the house you're interested in. There are a lot of questions behind that question, you just have to get started on the pre-qual process and then find out from there.
1159268
you can offer anything you like.   And no you cant use your VA loan to purchase rental property. Its for your primary residence only.  Just keep that in mind Big dog.  Now  as for the offer. If I asked for 477K and you offered me  417,  I would assume you arent serious.   And move on to my next offer.   But thats just me :D
266028
Yes I am looking for a homes to rent.
1094143
Buy on land contract, or rent-to-own.
91765
Whether you should rent or buy really depends on a lot of factors.  If you only need a place to live for a short term, you should rent.  If you want a place to build equity over the long term, buy.  However, if you buy now, don’t expect to see the massive increases in property values we’ve seen over the past few years.  The housing market is cooling some, so prices are leveling off.   That in mind, the housing market has historically performed very well as an investment.  I wish you all the luck in your venture.
349676
Renting to Own (RTO) can be a great way to get into the home of your dreams especially if you have challenged credit.  If you know you can fix or boost your credit withing the time of the lease (say 2 years), then get in now and refinance into your name when your credit is better.\n\nIf you can lock in the purchase price for the full term, even better, especially if the market moves up.  This isn't always the case, but if available, good for you.\n\nDrawbacks:  If you are late on a payment you may lose your entire deposit and any credit towards the purchase price that you may have accumulated.\n\nAlso if you decide not to buy at the end of the term, you lose your deposits and credits as well.
761795
No.  I know this is a hard idea to grasp, but once you buy property you have the right to use it, lease it, or sell it to anyone you want.  You do not have the right to buy the property unless you have a contract that states you do or a 'right of first refusal' contract that says you have the right to buy at a price equal to an offer in the future.
847555
If the deal is right and stacks-up it is ALWAYS the right time to buy property - foreclosure or otherwise.\n\nIf you are buying for investments:-\n\nDoes the rental potential in the area mean it will cover its own mortgage costs?\nAre you buying at LEAST 15% below market value?\nIs the area up and coming?\nIs the property in good general condition?\nWill it be easy to rent?\nCan you get an interest-only mortgage for a competative rate?\n\nIf you can tick all of your boxes, then it is hard to see when there could be a bad time to buy property.\n\nIf you buy AT LEAST 15% below market value (ideally 25%+) then even if house prices fell - you are still on a great deal with built-in equity.
704519
Call a mortgage broker, tell them you think you want to buy a house. They'll pull your credit report, and if you need advice on how to make it better, they're usually competent to give it to you.
76724
Yes and you should. The finance company your realtor will try to get you to use is probably going to want a higher percentage. And they can charge you that because they get so much business from the realtors. Dont let the realtors shove you into their finance company. Do an online search if you want. \n\nIve sold one house and bought two and I have always used my own finance company.
670353
It depends on how you want to sell your house, there are several ways or other ways to dispose of it and still earn a decent rental from it.\n\nOne way is the conventional method, interview about 3 real estate agents, get a compt of the properties in your nieghborhood,make the best deal you can with one ofthe agents that charge the fewer points for about the same service. Normally the real estate agent will want about 6% of the sales price as commission for selling the property,but that is not meshed in stone so you might be able to get one that will do it for less.\n\nFlat fee agency, they will do about the same,except they charge a flat fee that is normally about 2-3 points below the real estate agent. some are extremely knowledgable and some aren't interview about 2-3 before you make a selection.\n\nThen you can sell it yourself (FSBO) this is not as hard as you might think, you do the advertising in the local paper, prepare flyers and place them in the local stores in your neighborhood.\n\nYou might also contact a local Mortgage Broker for assistance in the services department, he might help if you supply him with a list of individuals that come by to look at your house who is not qualified to purchase a home but need to be pre-approved. He can assist you with escrow or closing agents, title, appraisal, insurance and other necessary things to close your transaction, as a matter of fact he might do a lot of things for you in exchage for a list of the names of the non-approved prospective home buyers.   \n\nYou may lease option, it is the best way that I find to sell a property,collect the rent without having to do anything to the property in the way of minor maintenace since the people moving in plan to purchase it some time in the future, they will do the minor maintenace and put that in your lease option contract.\n\nYou get a sort of non-refundable down payment, a long term lease to purchase.  I normally run an ad in the local paper something like this "lease to own,open house Sat and Sun 11AM-3PM each day, bring your check book,little or no credit check. I have yet to really have any serious problems.\n\nThe worst that can happen is they decide not to exercise their option, the best that can happen is they do exercise their option.\n\nif  they decide not to exercise their option you do the sam thing over again and again if it continue to happen. Someone will eventually get it right.\n\nI hope this has been of some use to you, good luck.\n\n"FIGHT ON"
742692
Here's the thing about rental properties:\n1.  Make sure you have at least 10% down for the purchase, because most lenders will not go higher than 90% LTV on an investment property.\n\n2.  Make sure you either know how to perform maintenance on the property, or know someone who is both skilled and honest.  You'll need to know someone who can do plumbing, roofing, gutters, windows, drywall, flooring, landscaping, the list goes on.\n\n3.  Start looking for tenants when you sign the purchase agreement.  You don't want that property sitting empty.\n\nRental properties can sometimes be a pain.  But, they can be very lucrative.  I have a former client that owns about 10 of them, and makes a buttload of money of them.  You may also want to look into a property management group.
10367
rent to own is not a bad idea, although there are SOME bad people involved in the business.  My advice: if you are looking at a "rent to own" house, look at some other houses for sale in the neighborhood that are not "rent to own", and look at some other house that are for rent.  \n\nRule of thumb: If the price of the rent to own house is not too much more than the price of similar houses that are not rent to own; and if the rent on the rent to own house is not too much more than the rent on a similar house, then its a good deal.  But if the "rent" is twice the going rent in the neighborhood, you're better off renting for a few years until you get your credit back up.