Rent To Own Sellers

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Nearly 30% of Roanoke, VA Homeowners are Underwater or Have Negative Equity in Their Home.  REsolutions Real Estate Services Can Help. In May 2012 I posted an article on the negative equity problem in our market.  Although the real estate activity has picked up since then prices have only increased slightly and only in certain areas.  Many Roanoke home owners and Sellers cannot sell their homes because they have no equity and cannot afford to pay REALTOR commissions or even to sell at market value. As you can see by the Zillow.com heat map and the summary table I’ve made below, some neighborhoods have been hit harder than others due to the high number of foreclosures and short sales in the market as a result of buying at the peak of the market and having a reduction in income, job loss or an increase in the mortgage payment that lead …

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Would you rather sell your house for full price + rental income or pay a Buyer $5,000 to take your house?  If you own a home that is “underwater” or have little equity read this story. As many of you know, in addition to owning REsolutions Real Estate Services I am also a REALTOR who focuses on Commercial, Luxury and Investment real estate transactions (check out www.PortfolioPropertiesRE.com).  Conventional residential real estate is not the core of my business but at times it’s a better option for Buyers or Sellers who raise their hand for our Rent To Own or Rent To Sell program.  I want to share a story that highlights just how beneficial a Lease Option transaction can be to a seller. I recently got a call from a great couple who wanted to buy one of our Rent To Own homes but it had sold in a matter …

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        Rent To Own serves both Buyers and Sellers equally and provides a much-needed alternative to the conventional market when values are down and lending guidelines are strict.  Read on to see the benefits to Roanoke home Buyers and Sellers. Buyer Benefits You don’t need 10% – 20% to move into your new house.  Only a small amount of cash is required up front. Qualify with minimum credit requirements.  We realize bad things happen to good people and we have credit repair experts to help you build your credit while you’re in your home. Move into your new house NOW.  No more moving, changing schools, having yard sales, etc. until you can buy a home conventionally. Establish yourself in the community while you pay down debt, establish credit, build employment history, etc. to qualify for a loan and close. Lock in a fair market rent and price …

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  As a real estate Agent/Investor/Consultant I have a lot of exposure to several markets across the country.  One thing that I see in every US housing market is low equity for homeowners due to the recent market correction and difficulty qualifying for homebuyers due to the same.  In my career it has never been harder for Sellers to sell or for Buyers to buy and it will not change until markets have recovered and banks have less foreclosures and more liquidity for borrowers. If you are one of these Buyers you don’t have to continue moving from rental to rental and uprooting your family.  If you’re one of these Sellers you don’t have to just keep making payments on a house you don’t want/need.  REsolutions Real Estate Services can help you reach your real estate goals in ways other companies simply cannot. Not only are we helping individuals, we …

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    We find that even though many Roanoke Buyers are interested in Rent To Own transactions most do not fully understand the transactions at first, not to mention how to tell if it is structured properly.  Here we will discuss the basic structures of a Rent To Own / Lease Option transaction so you know what to look for when buying your next home. Definitions: Lease – A contractual agreement between the Lessor/”landlord” and a Lessee/”Tenant” Option — An option is the right to convey a piece of property.  The person granting the Option is called the optionor (or more usually, the grantor) and the person who has the benefit of the option is called the optionee (or more usually, the beneficiary). Lease With Option To Purchase — This type of transaction consists of a Lease for a specific time as well as a SEPARATE Option for the same …

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    Unfortunately, there are many stories about how Roanoke Tenant-Buyers have invested a lot of time and money into what they thought was a Rent To Own transaction but lost everything at the end of the lease because they didn’t structure the transaction properly and had no interest in the property even though they spent 12 months and a considerable amount of money on repairs and improvements. When used responsibly Rent To Own / Lease Option transactions are a wonderful way for families who cannot qualify for a mortgage at the time to purchase a home that they can live in, love in and grow in even before they officially own the home. If your family decides that Rent To Own / Lease Option is the right fit it is very important to work with professionals who are transparent and explain every detail of the transaction before you sign …

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