Not all real estate agents are able to help you with the keys to your new Florida home on rent-to-own, lease-to-own, or lease-to-own terms.
Soft talk won’t do it.
Expensive designer clothes won’t do it.
The most expensive PDA cell phone attached to the side of your head won’t do it.
And that shiny BMW won’t either.
Realtors who do not specialize in Florida rent-to-own housing opportunities may actually hurt you more than they help you.
They don’t understand your financial condition – they are trained and used to working with buyers with “A” credit and large down payments.
They don’t know how to protect your interests with the specialized paperwork involved in rent-to-own transactions. This lack of understanding could put you in serious legal jeopardy if the real estate agent trying to offer rent-to-own services simply turned to Office Depot or Kinkos looking for a lease-to-own agreement.
Ideally, you want to partner with a realtor who specializes and works full-time with rent-to-own home opportunities, not a realtor who begrudgingly tries to rent-to-own only when his or her portfolio of “A” buyers ” runs out. dry.
A real estate agent who specializes in rent-to-own opportunities in Florida will understand the importance of home inspections and disclosures, such as ownership, homeownership, and mold.
That licensed rent-to-own specialist will also educate you on the Community Development District (CDD) implications.
He/she will also research comparable sales and aggressively negotiate on your behalf to get you the best deal on your new home.
The intent of both parties must be to achieve a successful transfer of ownership at the end of the lease term.
The bottom line is that the real estate agent must specialize in rent-to-own opportunities or it won’t matter how many nice houses the real estate agent can locate on MLS.
If you can’t qualify to buy the house that the real estate agent is representing you on, then you can’t buy the house.
Your situation requires owner financing with rent-to-own terms, and you need referrals to mortgage specialists who focus on working with people with damaged credit.
A quality company that provides credit repair services will also benefit you as it works throughout the lease term to improve your damaged credit.