Does Anyone Know of a Good Website to Find Rent to Own Homes or Townhomes?
Durham, Raleigh, Morrisvile, or Cary, NC will be where the website should offer single family homes or townhomes to lease to own. I’ve been trying to google this for weeks, maybe one of you has better google search skills?
Thanks in advance.
Looking to lease to own, because of low income. Credit is slightly below average according to equifax. I just think lease to own would be easier.
I agree. Craigslist, or maybe your local classifieds are about the only place you’ll find rent or lease to own homes. Most people don’t want to sell their house this way, because its a slow payoff. Only patient landlords do this, who want to make a bundle off someone who can’t buy a house the conventional way, because the buyer has poor credit or whatever reason. The rent-to-own houses I have seen work by paying a normal rent fee, plus the rent-to-own cost on top of that. You won’t find any rent to owns on Realtor.com…that site only has listings from realtors, not any homes for sale by owner.
Filed under: find lease to own homes
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RofL http://www.craigslist.org you can also get free dirt XD
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realtor.com is really good
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I agree. Craigslist, or maybe your local classifieds are about the only place you’ll find rent or lease to own homes. Most people don’t want to sell their house this way, because its a slow payoff. Only patient landlords do this, who want to make a bundle off someone who can’t buy a house the conventional way, because the buyer has poor credit or whatever reason. The rent-to-own houses I have seen work by paying a normal rent fee, plus the rent-to-own cost on top of that. You won’t find any rent to owns on Realtor.com…that site only has listings from realtors, not any homes for sale by owner.
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Here are a few I know about:
http://www.jscinvestments.com.
http://www.rent-to-own-ads.com/whylist.html.
http://www.NCRentToOwnNow.com
I would stay away from the ones on craigslist. I have contacted a few of them and they are a scam, both to the seller and buyer. They are basically trying to take advantage of people.
I assume you are looking for a lease-to-own because of bad credit. You really should talk to a mortgage lender from the start. They can set you up to improve your credit so that by the time the lease is up you should be able to get your financing. I have a home that we have on the market. We "sold" it twice through lease-to-own. Both times the people didn’t end up qualifying for a mortgage at the end of their lease. If we choose to try it another time we will require that they already are working with a mortgage lender. Our goal is to sell our home, so the more sure we are that the person is seriously trying to buy, it’s better for everyone.
I can answer any questions you may have about the process, just let me know via e-mail.
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Most communities have property management companies. They are often run by real estate professionals. I would check your local yellow pages for property managers or call some local real estate agents for assistance. There should be no fee to you for this. Some property managers for rentals may charge a small fee for a list of their available rentals.
A Realtor can search for homes that are "lease to own," that is, a house for sale, where the seller would consider a lease option. In that case, you would rent for a term (usually a year) and have first option to buy at the agreed upon price. This gives you time to save money and fix credit issues. Sometimes you would pay a little more than market rent during this time and that extra money would go toward your down payment.
A Realtor can refer you to some motgage lenders, who can prequalify you for the eventual loan. The lender can also counsel you on the homebuying process and help you with your credit issues.
I would NOT suggest trying to do this yourself from a web site. Good luck!
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I agree that http://www.NCRentToOwnNow.com is a good site to look. However, I am not sure why you would think that lease-to-own would be easier than purchasing. If your credit score isn’t bad and you just have low income you can still get into a decent home. Any rent-to-own out there is going to charge you AT LEAST what the mortgage amount would be, plus most charge more to cover other things (such as the person "buying" not following through and the owner having to start from scratch). Plus, you would be signing a lease contract for a year or two and then would be going through the paperwork to purchase anyway. Rates are SOOOO low right now, it may be the best time to buy!
I have the name of a great mortgage lender that would be able to help you out if you are interested. He has helped many other people that thought they weren’t quite there buy their first home.
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