11-08-2012 11:53 AM
Haven't really seen anything specific to this here yet. Wondering how I might go about finding owners that are open to lease purchase arrangements.
I'm not eligible for a traditional purchase for at least a year due to a short sale, but my wife and I have good credit scores and debt to income.
11-09-2012 07:04 PM
I doubt it. Economy is improving and home price is rising. It is seller's market now so if sellers have to sell now due to emergency they sell, otherwise they want to wait to list later for higher price. So why does a seller want to set a current price with you only to sell later?
But you can always put an ad to Craigslist looking for sellers who might. The ad is free.
11-13-2012 09:14 AM
Actually there are quite a few sellers that do list their homes with Lease purchase options. One main reason sellers do this is that they require a large down payment $5-$15k that is non-refundable at the end of lease if the tenant does not or cannot purchase by the agreed upon date - and most tenants do not purchase and sellers make pretty good $ on this.
Unfortunately, Redfin Agents are not setup to handle leases at this time. However, you can see lease to purchase options sometimes listed in the remarks fields of homes listed for sale. I suggest contacting the Listing agent directly on homes entertaining lease purchase options to get the full details and terms and they can vary greatly.
I also suggest being Very open to different areas when specifically looking for lease purchase options.
Another route would be to contact one of Redfin's Partner Agents who might be setup to handle leases and help you in your search.
Best of Luck!