Rent to Own vs Lease Options vs Wraps in Pensacola, Gulf Breeze, Pace Florida

Rent to Own vs Lease Options vs Wraps in Pensacola, Gulf Breeze, Pace Florida, are they right for you. Give me a call and let's take a look to see what we can do to make you a home owner.

With the mortgage crisis the way it is, the tightening of money from lenders or lack of money to loan. I get a lot of calls from buyers wanting to know if rent to own is an option. The short answer is maybe... Some ways to tell. If you apply for a loan and the interest rates puts the payments above what a similar home is on a rent to own home, then a rent to own home is for you. If you have credit issues that would prevent you from getting a loan then a rent to own could be for you.

Things to make sure you do.

1. When agreeing to a rent to own you will want to make sure you make the payments to the lender and not depend on the seller.
2. Make sure you put some kind of notice or recording with the courts that you have an interest in the property. Partly because you do not want the owner to be able to get a second mortgage or another loan on the home that would effect the contract. Whatever is proper in your state.
3. You will always want to do a title search so as to not have any surprises, Do not try to save money here. Next to the wording of the contract this is probably the most important thing.
4. Make sure to put in the contract that the seller is to not cause or seek a loan of any type after the contract date.
5. You will want the seller to furnish a home warranty.
6. There should be a dropdead date with a signed earnest money contract that defines how much of your rent applies to the pre-defined purchase price.

Things to make sure you don't do.

1. Do not buy a home with an adjustable rate mortgage.
2. Do not buy a home if any party says you do not need a title search at this time.
3. Do not buy without the advise of a Realtor, there are numerous horror stories where the wording became a conflict and each party read something different when issues arived.

Rent to own can be a wonderful thing and works very well as long as you know what it is going in. Make sure what you agree to is in writing. There is no such thing as too much writing when it comes to understanding a contract.

Buyers are taking advantage of our Smooth Move Program at closing, Choose between 1% Cash Back, 1 years taxes paid, 1 years insurance paid, Free Home Warranty and Use of our Moving Van or Free Survey with Free Termite. Lots of choices but the Realtor should be Contact Charles Stallions 850-478-8811 and make your move smooth.

Renters are taking advantage of our Smooth Move Program, Choose between Free use of our Moving Van or a $25. or Gift Certificate.

Call 800-309-3414 for Joyce Kelley CBR, CBA, Buyers Agent for Charles Stallions. I only work with buyers and tenants so you get my undivided attention.

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