Rent to Own, Owner Financing and Sales Price Concerns

If you are considering buying a home on a rent to own or owner financing such as a contract for deed there are some major price concerns you should have.

The national median home price of existing homes has been steadily declining and most experts predict that it could go even lower. The NAR (National Assocaition of Realtors) puts out a great report broken down by metro areas. You can view this report here:
Metropolitan Median Prices.

Does this mean it is a bad time to buy? Not in the least, what this means is for a buyer who understand the current market conditions it is a great time to buy. This isn't 2 or 3 years ago, if you are buyin g ahome on owner finanicng you have to be extra catious in the current price as well as your particlar financing situation.

While the drop in home prices is typically good news for buyers, what is depressing this is the availabilty of mortgages. Mortgage requirements are getting stricter. While most expect this to improve in the next year or so this is still something you should look at carefully.

This is why today when buying an owner financed home now more than ever you must verify not only the financial worthiness of the home you purchasing. This not only comes down to the current value of the home but the potential future value. Also is there underlying financing and what does that financing look like? Is it a fixed rate loan? Is it close to what the property is currently worth? I can't stress this enough now more than ever this is one of your most important considerations.

There are many tools and techniques to finding the current value and future value of any home on the market. You can learn the best way to protect yourself when buying owner financing homes in my book, How to Buy Owner Financed Homes. Please see sidebar for more information.

How to Buy an Owner Financed Home

Learn how to buy an owner financed homes.

In the Book you will Learn

* All about contract for deeds, land contracts, deed for title and other forms of contracts.
* Protect yourself and your family with simple steps you need to take when buying
* details about why contracts work for the buyer and why they work for the seller
* How does obtaining your own financing work on contract type transactions
* All about lease options, what are the pieces, how are most structured, and what does it mean for you.
* The five things you must do before you even consider a rent to own, and then the five things you must do before you decide on a specific home.
* The negative aspects of lease options for both the buyer and seller
* Explanations of the most common clauses you run into in Rental Agreements and Option Agreements
* A whole chapter of its own: How to obtain financing when doing a rent to own.
* Recently Added: What if you have a foreclosure or bankruptcy. What you must do and how this affects your rent to own decision.
* Seller carry backs, what makes it work for you and how to structure a carry back legally.
* The negative aspects of owner carry back
* How to find great deals on seller carry backs
* The five key things you need to know before you sign on a seller carry back note
* Recently Added: Cashing out a seller carry back in the current market conditions