How To Legally Steal Rent To Owns
here in the tampa bay area there are millions of rent to own houses for sale,and I feel some of these owners are just out to take advantage of poor uneducated ,desperate home buyers ,what should I look for in the contracts they makes them for to sell me the house with me obtaining my own finacing :-o :-o :-o :-o :-D :-D :-D
I'm a little confused as to what you are specifically asking in your post. I think you are asking what you should look for in the contract that would allow you to lease option the property without having to obtain your own financing should you decide to exercise the option to buy the property.
Although not an expert, I have obtained properties utilizing the lease option technique successfully. I, personally, have never had a homeowner that was ever willing to do a lease option and provide the financing should I decide to exercise my right to buy the property under the terms of the contract. In all of my contracts it is stated that I have the right to assign the contract or sublease the property during the term of the contract.
There are many reasons why a tenant/buyer would lease with the option to buy. I am not trying to say that there are some who would lease option a property to someone who they feel would never qualify to buy the home during or at the maturity date of the agreement. However, most reputable investors do not.
Have you attempted to acquire properties where the owner would consider owner financing? Have you attempted to acquire properties you may be able to purchase subject to the existing financing? These and other methods are available to you if you have reservations about lease options. Good Luck.
Dave
[addsig]
I am an active investor in the Tampa Bay area and I see few rent-to-own houses available. I suspect that is because the market is so hot, and rent-to-owns are normally used in slow markets. If anything, the buyers are taking advantage of the sellers because they can buy a house two or three years from now at today's price, costing the seller some appreciation.