Q: If I don?t have a bank to finance me for a home will I still be able to get in a home with a lease with the option to buy?
?Anonymous, Cordele, GA
A: You may, it?s a lot harder and you need a substantial down payment for the seller to know your serious. And if you miss any payments the house goes back to the seller and you have lost your deposit. Then after a specific amount of time the seller may ask that you qualify for a loan, this will all depend on the seller and what not! Good Luck!
Rosanne Nitti is a Realtor? with RMN Investments & Realty Services in Laguna Beach, CA.
A: Since a bank will not finance you at this time, there is still a possibility you can find a lease with the option to buy. You need to contact your bank and see how long it will take before you can purchase a home. This information will be helpful in trying to find a lease with the option to buy because you will be able to let the seller know when you will be purchasing the home.
Sandy Straley is a Realtor? in Layton, UT.
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Related posts:
- If my Listing Agreement Ends Can I Sell By Owner To The Tenants Living In The House Under A Lease/Option Agreement?
- How Do I Start To Investigate Lease Purchase Options?
- How Do We Find A Bank To Help Us Finance A Home After Bankruptcy?
- What Portion Of Lease To Buy Goes Toward The Down Payment?
- Lease Options Make For Viable Options
Source: http://www.realtor.com/blogs/2012/07/24/if-a-bank-wont-finance-me-can-i-do-lease-to-purchase/
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