Un-Conventional ways of buying a home in Roanoke VA....Lease to Own, Owner Financing

By
Real Estate Agent with Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert

With banks and conventional lenders tightening the belt on lending this year there are many people who could have bought in the last couple of years who find themselves on the outside looking in! 

There is hope though!  If you are dedicated to buying a home and have some money to put into the deal there are houses that can be bought.  There is some owner financing going on in the Roanoke Virginia real estate market at this time. 

There are several opportunities that I know of right now with lease to own homes.  I even know of one that you can buy and the owner will apply your payment to the mortgage and let you buy it for the mortgage payoff in a year, two years or three years whenever you can arrange financing. 

There are deals to be had for people with the will to buy.....you just need to find the right REALTOR and the right seller to put the package together!

Posted by

Damon Gettier, Broker/Owner RE/MAX 1st REALTY --ABR, ABRM, CDPE, ePRO, GRI, SRES, AHWD,  VA Licensed Real Estate Instructor

Buyer and Seller Representation

Roanoke Virginia Foreclosure Agent

Roanoke Virginia REO Agent

Roanoke Short Sale Listing Agent

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Comments (4)

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

There are deals to be had for people with the will to buy.....you just need to find the right REALTOR and the right seller to put the package together!

I applaud you on your positive outlook.   Sometimes it's easy to get bogged-down by the more challenging aspects of our industry right now.  Yes, we have to work harder to arrive at a transaction's completion ... but it can be done.  Being able to think outside of the box and the norm is extremely helpful.  Your upbeat nature and outlook is infectious!  Keep it coming!

Gene

Oct 14, 2009 02:28 AM
Josh Perrington
Arkshire Financial - Marietta, GA

Good post Damon - The key for many lenders is to make sure the Sellers & Borrowers record the transaction properly with their Closing Attorneys, in the beginning.  Many times the "purchase" will be treated much more like a refinance 12 months later, instead of a having to qualify for a true purchase.

Oct 14, 2009 04:00 AM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

I had an interesting situation with a lease to own property a few years ago. If the market is falling or rising dramatically, I can definitively say that lease to own is not the way to go for buyers or sellers.

Oct 18, 2009 12:41 PM
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

Jim, please explain your opinion.  How can it be bad either way? 

Oct 18, 2009 02:28 PM