Home buying-Lease Option?

please dont so it! i dont know ONE reputable place, INCLUDING first homes or the one that is in cape coral. i could get into specifics, but that would be too long. just hear this, i know LITERALLY dozens of people that got screwed from several different places. i say dont do it. GL

There are a million trillion options out there....BUT do not go at it alone. Hire a good realtor who could look out for YOUR best interests. LEASING is the way to go right now. (Don't sign anything with a price locked in either.) It is a little more expense to lease first with an option to buy, but then you find out everything that is wrong with the house and can almost always negotitate the price downward (especially in this market) -- the housing prices will continue to fall because they should not have doubled in 2 years for this area. But supply and demand tends to do that. Now there is at least a 24 mo. supply in the Orlando area and probably more than that. LEASING is a very good idea if not a little more expense upfront (it will save you money in the end).

Hello,
well I am an active agent and it seems like a lot of people know what is going on in this market. First I can definately tell you it is a Buyers Market there are about 18,000 and some homes for sale in Lee County. There are tons of options. Than i would like to say that it would not cost you a thing to hire a powerful agent like myself to find you a place to live. I have a home in Cape coral Florida who is willing to lease option, seller finance, that one is hard to come by. Most sellers might consider a lease option rather than seller financing that is a big risk. Well if you have any questions or need any help with this I would be grateful to help. My number is ###-###-#### give me a call anytime.

Real quick, I am not a realtor, but I do own a mortgage company and have seen many people get taken advantage of because of their weak credit situations. Home buying-lease Option is a great way to get your credit built up if you are in a situation where your credit is not at its best. Just be careful, It is a good idea to hire a real estate attorney, and have them review the paperwork with you. The way the market is, I would not lock in on a purchase price. With the market the way it is, and the way it will most likely be for a while to come, you as a buyer have alot of bargaining room. Purchasing a home is a huge deal and you want to make sure that you speak to real professionals in the industry that can guide you in a direction that is beneficial to you and your family. The best advice, would be hire a real estate attorney. It may cost you some money upfront, but could and probably will save you money and stress down the road.
Good Luck!
P.

I agree with the other posters that there are a LOT of different options that could be placed on a LO deal. There is no standard agreement, it all depends on the person who is selling and what they want.

My advise is to have a Real Estate lawyer, rather than an agent, be your adviser on this. A lawyer would be able to go through and understand all the verbage in the agreement as well as be able to advise on the proper way to change the agreement. Agents are more used to standard agreements and will probably need the help of a RE lawyer when deviating from the standard anyway. So you might as well skip that step and go straight to a lawyer, it will save you some money too.

Keep in mind that on a LO deal, EVERYTHING is negotiable. If you don't like something, either negotiate it to the way you like it or walk away from the deal. Agreements are always written to benefit the party that is writing it. So if the other party is writing the agreement, it will be geared to benefit them, not you. So make sure you read everything.

It CAN be a good deal and option for you, but you MUST, MUST, MUST read everything and do not take anything for granted. Also, if it is not written, it does not count. The law only recognizes Real Estate agreements that are written, nothing verbal counts.

Dear N.,

I think a lease- option purchase is a good first step to any "wanna be homeowner". I would suggest you continue to research this topic because there are many options out there.

GOOD LUCK!!!!!!!!

Hi N.,
My husband and I are familar with this process. My husband is a Realtor in the East Orlando area and I know he would be happy to answer any questions for you. Either write back or call his cell phone directly ###-###-#### his name is Ed. Just tell him that I gave you his number and said he would be able to answer some questions. Thanks and good luck with your search for a home.