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Where do I find Homes with Lease Option to Own in San Jose, CA?

  • March 23 2011 - West San Jose
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Answers (6)

I'd recommend finding a Realtor who can check the MLS or any broker exclusives (aka pocket listings) they might have.  This type of financing would be listed on the MLS, however, this is San Jose that you're talking about.  Inventory in Santa Clara County is low and the vast majority of homes there are selling fast.  It is highly unlikely you'll find anybody holding back paper to finance the property though you might get lucky.
  • November 18 2013
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You can use some of the online list companies in addition to speaking with local Realtors and rental agents. There really aren't any good online resources that don't require registration, but most also offer a free trial or like a $1 trial period. As long as you cancel in time that's as close to free as you'll probably get. The reality is, the free lists are probably less accurate than the paid ones anyways should you decide to go that route. 
Before you even go that far make sure you understand some of the key points for a good rent to own deal and also some of the pitfalls. Here's a few examples:
http://money.cnn.com/2009/06/02/real_estate/rent_to_own/
http://newz-wire.com/rent-to-own
http://www.wikihow.com/Buy-a-House-Using-a-Lease-Option
Just make sure you know what you're doing and don't take a seller's word for it if you aren't sure about a deal. This market where many cities have rising home prices would be a time you'd want to set the sale price NOW and not in the future. The opposite is true in a downward trending market. Keep that in mind also.
HTH
Dustin
  • November 18 2013
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Profile picture for sunnyview
"this guy is a idiot wow yep so much risk mate..."

Not very nice of you to say and not true. Rent to own carries more risk for both the "buyer/renter" and the owner alike. Contrary to what you suggest, it it not a trouble free or simple arrangement.
  • June 09 2013
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Profile picture for user3495224
this guy is a idiot wow yep so much risk mate they have the option to buy or not buy oh wow so much risk so it is just the risk of renting the house out for a little more wich they can allso end at any time.. god what a idiot does this guy now anything 
  • June 09 2013
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Lease to own can be a very risky option especially in our distressed environment.

Please make sure you check with a seller offering this option to make sure you are not taking on the responsibility of a home that has more debt than the market supports.

We have clients who have looked at this option but decided not to proceed because the seller offering this option was "underwater" and wanted to pass on this responsibility to a willing buyer. 

The challenge is that we don't know if and when we will return to the home values of the previous market. Lease to own is dependent on you as the buyer purchasing the property to cover the sellers debt. Unless the seller plans on selling the property as a short sale.

In either case use caution when considering this option.
  • March 24 2011
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You might want to check homes for sale by owners, some offer Lease to buy options.
  • March 23 2011
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