Locating a Lease Option Seller

Renting to own can be best characterized as an alternative path to home ownership. In virtually all manners, it is a cross-breed between owning and renting; Quite literally the goal of an RTO arrangement is eventually partake in both: Leasing and purchasing.

Believe it or not, many home owners are motivated sellers in the rent to own marketplace. Perhaps they are unable to locate a buyer willing to purchase their home at the price they are asking. It may be that the lending markets are unable to procure financing to the type of potential buyers they may be looking for. In any event, the ability to locate a motivated lease to purchase seller can be akin to procuring incredible value on an RTO home, not to mention paving a path to home ownership.

What Stops Most People From Renting to Own?

The truth is, renting to own involves a great deal of flexibility and deal-working. To those preferring up-front leasing and/or purchasing, the work involved may appear to be more of a headache than they care to handle. But that can be excellent news for you. In fact, most of these lease to own deals are overlooked simply because many buyers/sellers are unwilling to allocate efforts into the creativity required to make the deal work. The great news, however, is it can work. And when it does, it bears considerable advantages.

How to Size Up a Motivated RTO Seller.

Profiling skills are essential in determining who is likely to offer a rent to own home ownership arrangement. Let's consider several scenarios in which motivated sellers are likely to occur:

  • Sellers unable to locate buyers at desired price
  • Sellers unable to locate buyers able to obtain financing
  • Homes that have been on the market in excess of 90-120 days
  • Home owners with excess properties due to unexpected circumstances.
  • Newly married couples
  • Rental properties in which landlords no longer wish to own

By no means are these the only tell-tale signs on who is a motivated seller. Yet, most certainly, these provide excellent starting points. Be sure to size up homes for sale or rent. Ask why they are selling and how long the home has been on the market. Understanding the circumstances of a seller can mean almost everything. And if you don't ask, how can it be possible to know?