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Lease With Option To Buy Homes Knowledge Base
Lease Option to Buy a Home Deposit in CA, Is this deposited into an escrow account? I am trying to fin out if in the state of CA, does the owner of a property who is offering a lease option to buy get to pocket the initial option to buy deposit or does it have to go into an escrow account until the sale of the house? Same thing with any additional amount above the rent, does this get deposited into an escrow account as well?
How do lease with an option to buy work (homes)? I mean how do you know that the seller is paying the first lein, when you are paying him or her? Is their any contract (protection) you have with the mortgage company or do you just deal with the seller?
can i take the first time home buyers credit if i lease with option to buy? i am buying a home on a lease with the option to buy. I have never owned before, so I can I take this credit on my taxes or not. And if so what do I need for the irs. i have a contract that states that i am buying and that i am responsible for all repairs etc on my home
What are the tax liability with a lease option to buy as far as leasing my home as oppose to renting or sell? If all the lease payment with credit toward purchase goes into paying mortgage does that change my tax liability
Lease to buy option on home- when can we lock in the interest rate? Hello, We are considering making a lease to buy offer on a home and I am wondering when we can lock in the interest rate for the home. For example, if we lease for 12 months, with the option to buy, do we have to wait until the end of the lease in 12 months to secure the interest rate or can we lock it in as soon as they sign the lease to buy contract now? I would appreciate answers from anyone who has experience in this area. Thanks so much! We have good credit now. My husband justs wants to wait on buying for another year and I don't want to lose buying this house, so that is why we are thinking of lease to buy. My question is can we lock with a bank's interest rate NOW, when we are just beginning the lease aspect, rather than only locking in the interest rate in 1 year? Will a bank allow you to lock in an interest rate when you are just in the lease phase of the lease to buy option?? thanks!
can i lease my home with option to buy while i still have a mortgage payment ? this is in cal.im getting conflicting info. to some one else not to my self.
I want to find an investor to buy the home I currently rent & lease back with the option to buy.? The home is located in Colorado and is listed under the appraised value. Need to lease for 2 years or less to get funding to buy figured out. I have all details and other information available to serious investors .
I would like to hear people experiances with LEASE TO BUY OPTION...? We are trying to get into this home through a lease to buy option. I keep hearing such negative reviews about this option. Have you had a personal experiance with this? I would love to hear it. Suggestions and advice appreciated...
my husband and I are thinking about leasing w/ option to buy a home what is a contract buyers escrow? I have downloaded forms for lease with option to buy, but I was advised that we should do a contract buyer's escrow. What exactly is this and how do I incorporate it into the agreement?
What is the 5 or 20 law in regards to a lease with an option to buy on a home? Is it real? Is a renter entitled to any amount of the proceeds on the sale of a home if they have paid rent for 5 years or 20% of the value on the home. I am trying to get a clarification on this law. Does it really exist in the state of Ohio?
Know of any homes for rent with OPTION TO BUY in Dade or Broward counties, Florida? I have been browsing endless amount of pages on internet full of for rents and for sales. But can hardly get any ad which has a for rent or for lease with option to buy. If you do know of any, please let know, or at least best place to look for them.
Is a lease buy back program for my home a good idea? My house is in forbearance and someone offered the option of a lease buy back program where an investor comes in and buys my home and then I lease it from him for 12 to 24 months with extra cash out then I would buy it back. Is this safe? Can he just end up keeping my home? Do I pay him rent? Can I buy it back at the same price? I need some advice quickly please. Thank you in advance!
I live in Calif. and am having a hard time purchasing a home.I'm renting.What is "lease with option to buy"? I am renting a house right now and the owner is looking into offering me a "Lease with Option to buy". Does that mean I take over the mortgage payments yet he still holds the title until I am able to buy?
hey im am trying to find a good rent to own program anyone heard of Lease Option Home Buy or know someone? is the program really any good?
Meeting with Realtor tomorrow to discuss Lease with Option to Buy on my dream home? Ok so here is the deal. My boyfriend I am are ready to buy, but our credit is poor. We have found our dream home and had given up the idea that we could have it... So I called the realtor that owns the property, as she and her husband built this entire neighborhood, and asked if she had any rental property available, (because she has discriminating taste and I know she would have something to suit my taste. ) She asked if we would be interested in a lease with an option to buy, I said possibly and we scheduled a time to meet with her, which is tomorrow. We need about 2 years to get our credit in order and we also WANT to sign a 2 year lease as we both have stable jobs and want out of the city. This house is in a suburb in which he works as a police officer, in a gated community which means I will feel 100x more safe at night while he works 3rd shift. What I need to know is what I can expect to be discussed and what is standard in these types of deals. Any help is appreciated. Thanks I forgot to mention this Realtor may be the seller as well, but she is the one I would have used if our credit was high enough to purchase. She is excellent. I will however still have an attorney look at the paperwork before I sign anything... I learned that lesson a long time ago, and it was not an easy one to learn !! :)
lease/option to buy home is raided what rights do tenant still have? the home is raided and drugs found does that allow the landlord to immediately take control of home and not allow family in to get belongings. Buyer is current on the payment. Landlord also is now removing all contents to his home which belong to the buyer.
homes for sale -lease/buy option? Are there any reliable websites available? What are the general terms of agreement with this option? How long does the rent/lease agreement last?
I am looking for a Company that will purchase my home via short sale and lease back with 2 year option to buy? my home is in foreclosure and we have been tring everything to save it, we are able to make regular payments however the mtg co does not accept payments, we can not afford the arrearages on top of the current. so we are considering a shortsale with lease back opt to buy after 2 years with a portion of our rent going toward down payment. any info on this would be apprectiate. Thanks we are in CT
On a Lease Option to buy for a home, what is the longest lenght you think a person might lease? The min. is one year, I was just wondering what is the norm, and what is the longest amount of time to offer. Is five years ridiculous? I mean....I know thats a long long time... but what do you say? Isnt it all about negotiation? Is there a way I could negotiate them into a longer length of time, and offer them something else on top?
Our daughter signed a lease with option to buy. They moved into the home about one month ago.? Can the owners start to make them get a survey done, an appraisal done, and a home inspection done this soon? I thought they would have a year to decide if they wanted to purchase the home. The owner states that her son really needs to get the house sold now because he needs the money. Our daughter doesn't want to be continually told to have to get this done now or get that done now, but wants to make sure that the home and area is where they want to be for a long time. Our daughter is a very easy going and kind person and wants to make sure that she keeps a good relationship with the owner. How can she handle this? She lives in Houston Texas. Thanks!
Lease with option to buy..too good to be true??? My brother in law recently invested in a lease with option to buy program on a $450,000 home. What I find strange is that he just foreclosed on two homes. When I asked him how the program worked he said that all he did was pay $5000 down and $2,200 a month for rent. Although this sounds great, what is the catch??? it can't be that easy with two foreclosures hanging over his head. Does anyone know how rent to own programs work???
wanting do buy a home using a lease option? I am looking into a lease option here in oregon since I do not have the income documentation to secure a home loan and was wondering what the best approach to this was? What's the best way to find sellers will to carry the contract? What kind of terms are negotiable? pros and cons?
In the home lease to purchase option, can the leasor decide not to sell after you sign the option to buy? If we make improvements in the house during a lease to own can the leasor decide not to sell it to us and keep those improvements for himself?
Lease option to buy for land? One of our homes recently got burned down (thankfully no one was hurt). We now have this property in a subdivision that we don't really want. The neighbors are interested in it, but can't pay full price for the land. Can I complete a lease option to buy for land? And what other options do I have to get more cash or cashflow from this land? Thanks for the help in advance!
Can someone help with lease/option to buy info? I have a question regarding lease/option to buy loans. My husband and I lost our home of 17 years 18 months ago. We sold it at a quick, and in no way to our advantage sale in order to avoid foreclosure. We made basically nothing on it. My husband was formerly self employed, but is now steadily and full time employed. We have been renting for the past 16 months and have been excellent tenants,always paying early. Our credit is awful, and we know it....However we want to start having something of our own again.....I see offers for lease/option to buy that really don't require large down payments. What is your attitude and policy to people in our situation? Thank you for your reply.
what are the pros and cons of the "lease to purchase" option when buying a home? I would like to purchase a home, however, my credit is not the best... I recently learned of the "lease to purchase option" when buying a home. Since this is totally new to me, I would like to know more about this option, can anyone offer some advice?
In lease-option home deals, how much (%) of rent should go to the down payment? I am looking at purchasing a home and want to know what we can or should ask for to go to the down payment. We WILL buy the house (so lease-purchase vs. option). Thanks!
Hi are Lease Option to Buy Safe? I have to move, rather being force to move cause I was ill in July so my rent was short. Rather than move to rent again I need to buy but credit is not so great. Here's the ad Beautiful 4 bed 3 bath single family home. It is located in the growing community of Lathrop. As you drive around you’ll see how many improvements are on the way. This is a nearly brand new house in a brand new community. Map with Ariel Image: "http://local.live.com/default.aspx?v=2&cp=37.802545~-121.302848&style=h&lvl=15&tilt=-90&dir=0&alt=-1000&sp=Point.q90cfk4wr8kv_17364%20Stone%20Celler%20Way%2C%20Lathrop%2C%20CA%2095330-8819%2C%20United%20States___&encType=1" The house has been designed beautifully and has a real sense of community about it. You can see pics here: "http://uk.pg.photos.yahoo.com/ph/akghaffar/album?.dir=a612&.src=ph&store=&prodid=&.done=http%3a//uk.pg.photos.yahoo.com/ph/akghaffar/my_photos/stone+cellar+way" If you are commuting to the Bay area or Sacramento Lathrop is much easier to get to than Manteca because you wont need to take busy highway 120. The area has a lot of great development coming and the design I feel is much nicer than anything I’ve seen in Manteca or Tracy. I am really in love with the area. There’s more information on Lathrop here: http://www.lathropgov.org/ The home is ready to be moved into now. FEATURES INCLUDE: 2328 SF living area 2 Story HUGE Master Bedroom with HUGE master bath and HUGE walk in closet 3 additional good sized bedrooms (1 down stairs) HUGE Family bathroom upstairs Open living room with grand entry Large kitchen and family room Open and spacious design 2 car garage with remote controlled electric door Central heating and a/c Very nice landing at the top of the stairs VERY LITTLE LAWN WORK for those who do not want to maintain a huge lawn. Less than 2 minutes to Highway 1 year-6 month-month to month leases all ok. Qualifying is easy, bad credit is OK. Please call for details. Lease option to buy available. Please call for more info.
Lease to own / option to buy the home contract? My sister and her common law husband have a house they can't afford, and They want to give me the option to take the payments and live in it and do a lease to own contact . then have the option to buy the house within 2 years of me leasing the house in North Dallas. I trust my sisiter but not him . Where do I go and what kind of contact do I need that is will protect me from 5 years from know him teying to get his house back . I want to lease it and the payments going towards me buying the house within two years, I need to get my credit higher.
Is it possible to do a 1031 exchange on a property which I plan to sell with lease-option / owner financing? I have a property/home in which I am putting on the market. If I sell the property on a lease-option to buy or owner financing, would I still be able to do a 1031 exchange? If so, then how and when (upon signing the contract or pay-off (2 years))? Please include details in your answer. I can also add details if more info is needed to the question.
How would a rent to own home lease option work if one of my roomates does not intend on buying the property? I plan on applying for a mortgage to purchase the house within 18 months. However my roomate only plans on staying for a year. How should the lease be written up, to be both legal and fair to the both of us.
Lease with the option to buy sites for NY? My family is looking for real estate sites that offer rent to own, or lease to own properties. We got this one from my cousin who recently purchase one of the homes. http://www.limestoneridgeproperties.com/ This site has not shown homes in the area we want to live in yet, I was wondering if anyone knows of any similar sites. I appreciate any help, thanks.
Is a lease/option legal without a disclosure statement on the home you are buying? I did not get a disclosure statement... It was Ohio and I did not get any disclosure, now the whole back yard floods and there are other defects in the house that were not visible.
Would you reccomend lease optioning a home instead of selling? It's seems the seller market is at a slow this season. I have been considered renting my home out with option to buy it, but I want to cover all ends, I mean what if the potential Buyer doesn't buy at the end of the contract? Or if toward the end of the contract they are no closer to buying as they were when they began to rent it? And can I still sell it, if I change my mind about selling it to them in spite of a contract? Not to be rude, but I do plan to keep a watchful eye on their credit to see if things do change during their stay (via a signed form of course).
What is the meaning of a lease option in a rental contract in USA? We are looking to sell our home in Orlando, FL. A prospective tenant is seeking to rent the home for $ 1700 per month for one year with a "lease option" to buy at $425,000, which is amount we wish to sell the home for at this point in time. We live in the Middle East and do not understand the word "lease option".
Is there any tax advantage for a person to lease-option a home rather than just renting? My husband and I own a home that my daughter rents and we would like to be able to allow her to get something out of it tax-wise since she can't buy it outright at this time, and we're upside down in it anyway.
Can we take over the payments of an "almost" foreclosure on a house? There is this house that is going up for sale. Our credit is not so well right now and we are looking into leasing/option to buy homes. If a house goes up for sale that is on the brink of foreclosure, can we lease it and take over the payments? Wouldn't that help the owners from going into foreclosure?
Lease To Purchase Option on a home I own that still has a mortgage? I am in the process of buying another home and I am thinking about renting out my current house with the option to buy to my current roommate. I will still have a mortgage on my old house in addition to the new house mortgage. I have seen that with the lease to purchase agreements there is an agreed upon percentage of the rent payment that is applied to the purchase of the home. At first I thought about charging $1300 a month and applying $1000 a month toward purchasing the home. But since it is still on a mortgage most of the rent payment will not go toward the principal. What percentage should I change it to? My mortage on my current house is $1000. Thanks.
Should I sell, rent, or lease with option to buy? I currently own a townhouse in the Los Angeles area and need to relocate to another city due to a job. Since home prices are going down, I thought it would make sense to rent my property rather than sell it and not get my money's worth. I hired a property manager and she is supposed to be finding me a tenant. She asked me if I was interested in leasing with an option to buy and I told her I would think about it. Now she is suggesting that I sell because prices are only going to continue to go down and I will only make $200/month profit by renting when I could get $150,000 profit by selling and then reinvesting in more rental property. I'm confused.
How can I help my daughter buy her first home? My wife and I want to help our daughter and her husband buy a home. They currently have poor credit and even with us providing the downpayment, they could not get a mortgage themselves. We thought we'd buy the house and let them gradually buy it from us. How can we set this up? Lease w/ option to buy? What about improvements they make to the property?
How does a Lease w/option to but work? We are currently looking for a home, but we lost our home to foreclosure and are filing bankruptcy.We are considering a lease with option to buy, because we need time to clean our credit up but don't want to move our children again. Are we going to run into problems since we will have a bankruptcy on our credit? And do you have to have alot of money down? So, if anyone can help how does this work?
Looking in Massachusets on the Southshore, lease with option to buy anything out there? 2 bedroom, 2 bathroom single family home or townhouse.
Contract 4 Deed and Lease with Option to Buy? My husband and I had a little financial issues and we had to sell our house for much under what our loan was for. Anyway, our credit is not that great anymore. We were under the impression we were buying this new home under contract for deed. The guy we are buying from is a family friend. Anyway, we have been here since October and have not signed a thing. We pay $1,150 a month. I called and asked him today to bring me over something that showed what I have paid in interest so I could use it for tax purposes. He came over and brought me a lease to sign instead. He told me that he was going to get me the renters credit instead because I would get more back on my taxes that way. So, does this basically mean that I have been renting for $1,150 a month?? We were told it was contract for deed. We paid no money down and that was why the "house payment" would be higher. What is going on? Was I taken advantage of? The house does have lake shore but no garage...we were going to put a garage up this summer but not if we are "renting." I was also told that if we wanted to change it to contract for deed then it would cost us $2,000 and cost him $2,000 ($4,000 total) for the paperwork.
we signed a lease with option to buy contract and now the owner is trying to change her mind. we signed this contract one yr ago and we have 2 yrs left to get the mortgage over into our name,it states in the paper that all monies paid on this lease will be deducted from the price of the home.now the owner states that it is suppose to be just rent as paid.and when we get the mortgage switched over then we will still owe her the full price she was asking for.do we have a leg to stand on or will we be liable if there is still money owed on the mortgage when the time comes?we didnt go infront of an attorney to do these papers we bought a contract at staples and had it notorized is this legal and binding.?
What do you think of a rent-to-own home, or lease option? My fiance and I are getting married in October. We're tired of renting and have been very interested in buying a townhouse. Our apartment lease ends this December, and since we're paying for our wedding in October we have no opportunity to save for a down payment on a house this year. What do you think of a rent-to-own home, or lease option? It sounds like a great opportunity for us -- ready to buy, but we need a little time to save for a down payment, and to qualify for a better mortgage. What are your experiences with the rent-to-buy or lease option? Advice is welcomed from sellers, buyers, realtors, or anyone who's had experience in this field. Thanks!
Is there a website with RENT- TO-OWN or LEASE-TO-BUY listings like craigslist? for the SAN FRANCISCO BAY ARE? I am looking for a home rental in the Bay area, but not quite ready to buy. I have heard of lease-to-buy options, but I am having trouble finding listings in the bay area. I am so used to craigslist I suppose I am assuming its gonna be THAT easy. If someone could help me that would be GREAT!!! Thanks!!
I have leased a home in indiana with the option to buy but am now getting a divorce how do i transfer the leas? how do i transfer the lease into my soon to be ex wifes name.
lease with option to buy... I am over renting and want to buy, I have $20,000 saved and excellent credit, but have only been at my job for 4 months and only make $9 an hour. Will I be able to get approved for a home loan at about $120,000? advice?
Lease Option: Anyone done this before? I am considering renting a house with an option to buy (as an investment). The rental price would be $800/month with an option to buy the house in 2 years for price of $110,000. I would also get rental credits of $300 per month towards the down payment. I have someone lined up who would sublease the house from me for $950/month, and they would have an option to buy the home from me in 1 year for a purchase price of $125,000. they would get no rental credit towards the down payment. My question is this: Lets assume my sublessee is ready to get a loan in 1 year, how can I make money from this transaction without actually having to buy the house myself and get my own mortgage?....given the scenario I have presented above. I guess I see the larger potential, but do not know the nuts and bolts to make it happen. Any help would be appreciate, from a detailed answer to any links to any helpful websites.
Is a lease to own option legitimate when purchasing a home? I am considering a lease to own as an alternative to buying a home outright. The reason being that I do not have the capital for a down payment and my credit isn't exactly wonderful. How is a lease to own supposed to work...during the lease, who will be responsible for repairs to the home, property taxes and homeowners insurance. Will I be responsible as soon as I move in or after I actually assert my option to purchase the home at the end of the lease? What should I be looking out for to avoid getting scammed?
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