How to Get Someone to Let You Rent to Own!
Buying and selling in today’s market is a challenge, no matter what your situation. Thanks to the mortgage market implosion, getting into a home via tradition methods is more difficult than ever. If your credit situation is less than ideal, chances are that unless you have a significant cash down payment, you are going to have a difficult time getting a mortgage loan.
So, what are your options? You can, of course, continue to rent. If you really want to own a home, you may find that this decision just is not right for you. Your other option is to try to get a rent to own home.
While there are many rent to own homes available out there, you may find that the home of your dreams is not offered as a rent to own. If the home really meets the needs of your family, why not contact the owner and see if they would be willing to offer their home as a rent to own homes listing.
To do this, simply call them and ask! Explain your situation and let them know that you are serious about owning a home, but are a year or more off being able to qualify for a home mortgage. See if they would be willing to offer you the opportunity to rent to own.
You should be prepared to pay full fair market value for the home – you can only expect to take advantage of the deals available in today’s market if you have good credit. The fact that they can get full value for their home is very attractive to many of today’s sellers.
If you are uncomfortable with negotiations or do not want to have to explain your credit situation to multiple sellers, another option is to work with a reputable rent to own or lease option company. They can negotiate on your behalf without you ever having to have contact with a seller.
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