Buying Real Estate Using Rent-To-Own And Lease-Purchase Options
January 27, 2010
Owing a home is a big part of the American dream. But not everyone is fortunate enough to become a homeowner due to delimiting factors such as insufficient income, bankruptcy, bad or no credit, loss of employment, etc. For people with such troubles, owning a home is a distant dream and some of these people resign themselves to a lifetime of renting. But such people are not without options. Rent-to-own, which is also known as a lease-purchase option, can be an excellent alternative available to some people who are currently unable to buy a home.
A rent-to-own or lease-purchase option is an agreement between a prospective home buyer and a home seller. The agreement is basically a rental contract with a right to purchase the property after a period of time (usually 1 year). When a home seller offers a lease-purchase option, what they are really offering is the option to rent the house at some monthly rate, and to lock in the sales price of the home now, even though the prospective buyer would not actually purchase the house until a later time (if at all).
Here is a hypothetical example. Let’s say the monthly rent for a home is $1700. Under a lease-purchase option, a prospective buyer would rent the home for the $1700 a month, but would also pay an additional premium (e.g., $200-$300) every month for the option to buy the home after a period of time (usually 1 year). So in this example, the total monthly rent is actually $2000, but $200-$300 of the money will be applied toward buying the house at a later time. In other words, the home seller would apply the $200-$300 extra paid every month toward the prospective buyer’s down payment at the end of the year.
The good news for prospective home buyers is that it allows them to lock in the purchase price of the home now, even though they are not purchasing the home until a later time. The bad news is that if a buyer decides not to purchase the home at the end of lease term, the seller often keeps the premium amount paid over the year, although this is usually a point of negotiation.
Prospective home buyers should know that many of the terms described above are negotiable such as how much the monthly rent will be, how much extra has to be paid every month for the option fee (if any), the length of the lease term, etc. The other issue to consider is if it makes sense to lock in a home purchase price now in markets where real estate prices are still declining.
When compared to renting, a lease-purchase can be an attractive alternative because it gives prospective buyers an opportunity to own a home before they normally would be able to. There are some advantages to a lease-purchase option such as:
1) Low or No Initial Down Payment. Many lease-purchase options do not require an initial down payment.
2) Equity Advantage. At the end of the lease term, the value of a home may have appreciated over time, which benefits the purchaser.
3) Living Experience. Prospective home buyers have the opportunity to try out a home and neighborhood before purchasing the property.
4) Leverage Advantage. With just a small investment, a prospective buyer can control a property; yet still have the option of not buying the home if market conditions don’t warrant it.
Rent-to-own or lease-purchase option can be an effective strategy to home ownership. However, there are both positive and negative aspects to this type of approach (as described above). A good real estate agent can help you navigate the complex world of rent-to-own and lease-purchase option properties.
Real Estate Advisor
http://www.articlesbase.com/real-estate-articles/buying-real-estate-using-renttoown-and-leasepurchase-options-83575.html
Clearwater Real Estate Agents gets Luxury Buyer Raves
January 27, 2010
From http://www.ClearwaterRealEstateTampaHomes.com – Buying Clearwater Condos – This Tampa Bay Condo Buyer raves and recommends working with Cyndee and Jack Haydon, REALTORS- “best real estate agents covering Clearwater | Tampa Bay | Clearwater Beach and the Gulf Beaches Specializes in helping Condo, Condo Hotel and Home Buyers in the Tampa Florida Real Estate market. Visit our website at http://www.SandbarsToSunsets.com/idx and use our Clearwater MLS Search to see complete Tampa MLS of all homes and condos for sale by all Tampa Bay real estate companies in the area. Our blog, Sandbars to Sunsets is full of local information about local Clearwater real estate and the area we serve and hear from other’s we’ve helped at http://www.SandbarstoSunsets.com/clients or feel free to contact Cyndee Haydon,REALTOR in Clearwater Florida directly at 727-422-8901
Specializing in Gulf Beaches | Waterfront | Lakefront | Intercoastal | Easy Military Relocations |Clearwater Homes for Sale |Clearwater Condos for Sale | Tampa Bay – Pinellas, Hillsborough and Pasco county – the Bluest Backyards
Duration : 0:2:43
Connerton, A Master Planned Community North Of Tampa
January 27, 2010
A planned community spread across 4,800acres in Pasco County north of Tampa, Florida, Connerton is a new home development, which includes homes for sale by some of Tampa’s most prominent builders. David Weekley Homes, Taylor-Morrison Homes, Smith Family Homes, Arthur Rutenberg Homes and Constanza Homes offer homes from the $200s to the millions. In addition to new homes, Connerton will include retail, medical facilities, and commercial office space, offering community residents the ideal balance between living and working — all in one exceptional location.
The real beauty of Connerton is the lifestyle, which offers everything from parks, restaurants and shopping, to three A rated schools, an outstanding community center and an extensive trail system, designed to connect everything this New Town development has to offer. And it’s only minutes away from the Tampa metropolitan area.
Duration : 0:2:27
Tampa Home – Tampa Real Estate -(813)493-2272- Tampa House for Sale – Wilderness Lake Preserve
January 27, 2010
Visit www.FloridaHomes-Info.com or contact us for more information 7 days a week at (813) 493-2272. This is a beautiful former model home in Wilderness Lake Preserve with 3 bedrooms, 2 baths, and an oversized 2 car garage overlooking a pond and conservation. (this video contains audio from Dax Johnson’s “A Father and Son”)
Duration : 0:2:30
Land O Lakes :: A Friendly Florida Community
January 16, 2010
If there’s one word that personifies Land O Lakes, Florida, it’s community. Located in fast-growing Pasco County, Land O Lakes combines the friendliness and charm of small town living with the fun of Florida’s sun-loving life and play style. Centrally located Land O Lakes is close to everything – just a few minutes from downtown Tampa and less than an hour from the Gulf Coast beaches, it offers a splendid plethora of activities from biking and boating to shopping and clubbing. With a population of about 20,000, Land O Lakes is an unincorporated city in Pasco County, one of the fastest growing counties in Florida.
A rural atmosphere and easy access to big city amenities have made Land O Lakes a very popular spot for new developments, and there are plenty of homes available. They range from single family homes with up to four bedrooms to cozy studio apartments and townhouses in gated communities. Housing prices are still considerably lower than in many of the Gulf Coast communities, even for lakefront property. If you’re looking for a great place to raise a family or enjoy the single life, Land O Lakes has a lot to offer.
Recreation
Pasco County is home to thirty four state parks and recreational areas, including three canoe trails and the Land O Lakes Recreation Complex which offers canoe and boat ramp access and a full community center. The lake fishing is spectacular, and the numerous hiking trails range from comfortable walks to challenging hikes through some of the most beautiful wetlands and meadows in the state.
If your idea of recreation is more social, Land O Lakes is a just a short drive from the glittering lights of downtown Tampa. Closer to home, Land O Lakes has several annual festivals that sparkle with small town charm, including the annual Famous Flapjack Festival, the Jellybean Jamboree, a Business Expo and Taste of the Towne Festival.
Homes in Land O Lakes
Land O Lakes is a unique and refreshing blend of old Florida architecture and modern construction. Home prices range from $100,000 to $1,000,000 and more for homes that range from cozy lakefront cottages with stunning water views to full-fledged luxury resort homes with lakeside access. While housing prices have risen in the past five years as Tampa has expanded, there are still many properties available in Land O Lakes at reasonable prices. Bring your family home to Land O Lakes and enjoy the tranquility of a sunny Florida hometown.
Robert Lipply
http://www.articlesbase.com/destinations-articles/land-o-lakes-a-friendly-florida-community-132770.html
Riverside cottage for sale, Florida, $324,900
January 16, 2010
CHARMING COTEE RIVER COTTAGE! www.CharmingCoteeRiverCottage.info.
Florida Waterfront Paradise found! Charming, fully furnished, waterfront, double cottage on the historic Cotee River. Move-in condition on a deep, park-like, oak-shrouded, riverside lot with one quarter acre. The main cottage has a beautiful, entry living room, two bedrooms and kitchen, along with inside utility / pantry and a wonderful river view breakfast / reading room. A large deck connects the main house to another lovely, back cottage which can be an in-law apartment, guest quarters or rental unit, with sliders to a Florida room with great river views. Both buildings are freshly painted and professionally staged. Two storage sheds. Property can be sold unfurnished. Fish from your own enormous backyard, or just relax in perpetual vacation. Deep water Gulf access is 45 minutes away at idle no-wake speed. What kind of boat will YOU put in your backyard? Southwest view in back means spectacular sunset views over the river. Have the cocktails ready! Cul-de-Sac street close to historic downtown New Port Richey and its restaurants and shopping. Walking distance to two city parks. No deed restrictions! No flood or wind insurance required!
This is an exclusive listing of John & Lisa Durkin, “The Topgun Team”, ™ “Let Us Accomplish YOUR Mission!”™ 727-858-8247. TheTopgunTeam@Yahoo.com.
Visit us at www.TopgunRealEstate.com, or www.CoteeRiverRealtors.com.
Prudential Best Realty, Inc. New Port Richey, FL 34652
Duration : 0:4:3
Florida Real Estate Pinellas Hillsborough Pasco The Main Real Center
January 16, 2010
Duration : 0:1:38
Hey Tampa Bay! Watch the BEST Real Estate DEALS IN YOUR AREA
January 16, 2010
Watch, call, and move into your dream home! dont miss the best real estate deals in tampa bay on housematch televisoin airing tonight at 5pm ET on the ION networks. We’ve got a $500 incentive for you. go to our website at www.housematchtv.com for more details. the best realtors, the best real estate deals, its only on housematchtv
Duration : 0:0:29
Real Estate Dreams and Pasco Real Estate Agents
January 13, 2010
When it comes to people trying to market their own home for sale in Pasco, many times they run into difficulty of gaining the maximum exposure for themselves. Professional Pasco real estate agents are there just for this circumstance and for this reason many people hire them.
When it comes to having your house sell or not, it all comes down to marketing. If you don’t have any exposure, it gets really difficult to place your home in front of people who are looking to buy. These days one of the best ways to get some attention for your home is by using the Web, and a Pasco real estate agent who is already established with a web presence could be a real boon to get people to look at your house. You need to face reality that the Internet is the place to have a presence these days. Most of the people who are looking to buy a home will have visited the Internet long before they start talking to a Realtor and will have a pretty good idea of the homes that they want to check out. For this reason, it is imperative for any Realtor or real estate agent to be a leader with their web presence.
These professional Pasco Real Estate Agents also provide access to other information, which can make big difference in your decision about choosing the perfect real estate investment opportunity in Pasco. They will provide you with information like market lease trends, popularity study and a comparative report on the changing trends in different real estate markets in different states. Addition to this, the Pasco real estate agents also look after the economic trend that affects the real estate market. This information can be used by the prospective client to study the current real estate market and choose the ideal property that fits his purpose and pocket. They are capable of handling thousands of data and handling very large transactions that involves millions of dollars. In order to get the competitive edge, a client should get the latest information from the professional Pasco real estate agents.
A real estate transaction involves legal issues and complexities, which are very difficult to be single handedly taken care of by any layman. These professional Pasco real estate agents are trained to solve the complicated legal issues and thus save your valuable. Although the agents will take their share from the sale proceeds as commission, but it’s worth giving that amount rather than making an improper investment.
It is advisable not to venture into a real estate transaction in Pasco without the guidance and advice of an experienced Pasco real estate agent. They have the right training and equipment to give you proper advice and transaction services so that your money gets into the right channel and your real estate venture goes smoothly.
1903 West Ruby Street, Pasco
January 13, 2010
This nice rambler is close to shopping & entertainment, but settled in an established neighborhood! // created at http://animoto.com
Duration : 0:2:9