Can Owner Financing - Lease Options Work For You? (Port Charlotte/North Port)

Port Charlotte / North Port Owner financing, Lease options occurs when the seller of a home finances all or a portion the sale of his or her own property. This is often referred to in real estate ads as "Owner Will Carry" or similar wording, meaning that the owner of the property will, in effect, act as a bank and loan the purchaser all or part of the money needed to purchase the owner's property.
There can be several advantages to the seller for carrying a note, as it is also known. There can be tax advantages in spreading out the time over which an owner receives the money from the sale of a property. Also, many owners simply like the idea that they can receive a monthly income from a property even after they have sold it - and no longer have to worry about repairing leaky roofs or replacing dead water heaters.
There is a nice monetary inducement to the owner to carry paper as well - the owner can charge the buyer interest on the money that the owner is lending to the buyer. In this way not only does the owner collect a monthly mortgage payment on the property he or she has sold, but the owner collects interest as well, in effect increasing the owner's overall sales price of the property.
In order to protect themselves, some homeowners require that the buyer make their monthly payments into an escrow account held by a bank or other lending institution, and they require the borrower to place a Quit Claim Deed into the escrow account with instructions that if a payment is late by a certain number of days then the escrow officer will automatically file the Quit Claim Deed, restoring the house to the former owner instantly.
If this were to happen the buyer would not only lose title to the property but would also lose any and all payments already made on the property. This is a powerful incentive for the buyer to make all payments in a timely manner.
A more pragmatic reason, perhaps, why some homeowners agree to carry a note is to increase the universe of potential purchasers for their property. The way this works is easy to understand. If the homeowner is making a portion of the loan on the property then the borrower will need to qualify for a smaller loan from a bank or other financial institution, meaning that a larger number of people will be able to qualify for any bank loan that might be required to purchase the property. If the seller finances the entire selling price of the property then buyers do not need to qualify for a bank or other financial institution loan at all. This can greatly increase the number of people who are interested in buying a piece of property.
For starters if the owner is financing all of a sale then a borrower does not have to qualify for a loan at a traditional financial institution. Even if the seller only finances a portion of the loan the borrower benefits by having to qualify for a smaller loan from a traditional mortgage source.
Additionally, when a seller finances a property there are no points or closing costs for the buyer to pay, saving the buyer potentially several thousand dollars on the transaction. And while the seller of the property may charge the same interest rate that a bank or other financial institution would charge, it is sometimes possible for a buyer to actually end up paying a slightly lower interest rate if the seller finances the sale since more aspects of the sale are open to negotiation than may be possible when dealing with a traditional lender.
http://www.123rent4now.com
Many factors can influence whether the seller of a property is willing to carry all or a portion of the sales price on a piece of property. In many cases, however, the determining factor is the overall condition of the market itself.
When homes become difficult to sell - when it is a buyer's market, in other words - then sellers are more inclined to do whatever is necessary to increase their chances of a sales and so owner financing is more readily available.
Conversely, when homes are selling quickly and it is a seller's market, then sellers have little incentive to carry back a mortgage. So your chances of finding an owner willing to carry back a mortgage are largely dependent on the current housing market. But regardless of prevailing market conditions, it never hurts to ask if an owner is willing to carry paper.
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Find Recent Homes Sold in PUNTA GORDA, FL 33950:

Recent Homes Sold in PUNTA GORDA, FL 33950:

Property Address Price Beds Baths Sq. Feet Year Built Sale Date 257 COLDEWAY DR -UNIT D2 $ 148,900 2 2.0 1226 1985 02/09/2011 741 BURLAND ST $ 37,150 2 2.0 1088 1947 02/07/2011 3640 BAL HARBOR BLVD 1-UNIT1 $ 174,500 3 2.0 1867 1992 02/04/2011 25188 MARION AVE A303 $ 71,000 2 2.0 1220 1975 02/03/2011 9975 BISHOP CREEK WAY $ 115,000 3 2.0 1899 2009 02/03/2011 98 VIVANTE BLVD -BLDG 6-UNIT 3 $ 105,000 2 2.0 1915 2007 01/31/2011 98 VIVANTE BLVD -BLDG 6-UNIT 2 $ 111,000 2 2.0 1698 2007 01/31/2011 5056 SAN ROCCO CT $ 140,000 2 2.0 1653 1999 01/31/2011 909 HENRY ST $ 120,000 3 2.0 1170 2008 01/28/2011 1461 AQUI ESTA DR B2 $ 89,000 2 2.0 1012 1980 01/04/2011

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4/3 Kissimmee Fl - Near Disney

Kissimmee Fl - Near Disney2,806 SF - 4 Bed - 3 Bath
Year 2006 - 2 Car Garage - $69,900 Only $25 Per SF
One day you will regret not taking advantage of this Buyers Market. How low is low enough? Great cash flow & high return on investment is typically what triggers most investors to act. Please don't watch others secure their futures when the opportunities are right here ripe for your picking. This is your chance. Take it. How bad can it be to let tenants buy you property? Even if they pay too much you still get a property bought by a tenant. 

Port Charlotte Residents Can Benefit From a Home Energy Audit.

Great Ways Sellers Can Benefit From a Home Energy Audit

Some experts often recommend that homeowners conduct a home energy audit to maximize their energy efficiency, save money on utility bills and help conserve energy. But did you know that a home energy audit might also help you sell your home?
When done correctly, a home energy audit can help you differentiate your home from the competition by highlighting the annual savings an energy-efficient home provides.
Some cities, such as Austin, Texas, actually require that homeowners conduct energy audits prior to selling their property. Home sellers in Austin are required to have a specialized audit before a house 10 years or older is sold. The audit covers the HVAC system, air infiltration, windows and attic insulation.
But even if a home energy audit is not mandated, how can it help you as a seller?

• A home energy audit will allow you to market the property’s energy-efficient features—features that often enhance the value of the property by delivering energy savings to a prospective buyer.
• If the audit uncovers any areas in your home that need improvement, federal and state tax credits may be available to help cover the cost of improving its energy efficiency.
• There may be state and local incentives, such as rebates or cash incentives, for making your home more energy efficient. Visit the Database of State Incentives for Renewables & Efficiency, at www.dsireusa.org.
• A home energy audit may alert you to areas that need improvement and can help you better manage your energy consumption—and save money—while you still own your home.

Interested in learning how to make your home more energy efficient?

3 Bedrooms / 2 Bathrooms, Hialeah, FL 33015

Hialeah, FL 33015

3 Bedrooms / 2 Bathrooms  

Living SQFT: 1,050

Lot SQFT: 7,800  

Year Built: 1965

Construction: CBS

ARV = $200,000

Repairs = $15,000

Price = $124,900

This single family home is in really good condition and will only require minor cosmetics. Home also has open permits for building, plumbing, and electrical which will need to be closed. Features include: carport, central AC, updated kitchen, tile throughout, french doors, big back yard, and close to schools. Home will sell quickly so contact us today to schedule a showing.

Possible owner financing: 5 year balloon, 15% down

Jessica Coleman Allison James Estates & Homes Port Charlotte, FL 33948 Direct: (941) 249-2366 Cell: (941) 876-4589 Fax: (941) 237-4897 E-mail: admin@flaopenhouse.com Website: http://flaopenhouse.com

House Status : ACT Price : $69,900 List Date : 01/13/11 Last Modification Date : 03/21/11 Location: 1245 DORCHESTER ST, PORT CHARLOTTE, FL 33952 (map) County : Charlotte County Bedrooms : 3 Bathrooms : 2 Partial Bathrooms : 0 Approx. Sq. Ft. : 1290 Approx. Lot Size Sq. Ft. : 10001 Year Built : 1983 Photos: 1  2  3  4  5  6  7  8  9  virtual tour: CLICK HERE Comparable Properties
Special Conditions: None Remarks : Not a short sale or foreclosure. Fast response from seller. 3 bedroom, 2 bath home on fresh water canal. Tile floors throughout. Large lanai and convenient to shopping, restaurants, etc. Possible owner financing: 5 year balloon, 15% down, interest
Type: Single Family Home Construction: Asbestos, Brick, Wood Frame, Siding Roof: Shingle Foundation: Slab Garage: Attached Parking Description: 1 Car Garage Fireplace: NO Cooling: Central Heating: Central Swimming Pool: NO
Lot Description: Zoning Permits Horses, Pool View, Street Paved Interior Features: Unfurnished, Whole House R. O. System, Furnished Sewer/Water: Public Municipal Water, County Water, Septic, Public Water Available
Analysis
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Homes Sold in PUNTA GORDA, FL 33950:

Here are a few Homes Sold in PUNTA GORDA, FL 33950:

Property Address:	Price	Beds	Baths	Sq. Feet	Year Built	Sale Date
3640 BAL HARBOR BLVD 1-UNIT1	$ 174,500	3	2.0	1867	1992	02/04/2011
25188 MARION AVE A303	$ 71,000	2	2.0	1220	1975	02/03/2011
9975 BISHOP CREEK WAY	$ 115,000	3	2.0	1899	2009	02/03/2011
98 VIVANTE BLVD -BLDG 6-UNIT 3	$ 105,000	2	2.0	1915	2007	01/31/2011
98 VIVANTE BLVD -BLDG 6-UNIT 2	$ 111,000	2	2.0	1698	2007	01/31/2011
5056 SAN ROCCO CT	$ 140,000	2	2.0	1653	1999	01/31/2011
909 HENRY ST	$ 120,000	3	2.0	1170	2008	01/28/2011
1461 AQUI ESTA DR B2	$ 89,000	2	2.0	1012	1980	01/04/2011
2626 PARISIAN CT	$ 820,000	3	3.0	2968	2000	01/03/2011
601 SHREVE ST -BLDG 5-UNIT 55-	$ 143,000	2	2.0	1398	1981	12/30/2010

See All Homes for Sale in >> Punta Gorda, FL

Port Charlotte - Punta Gorda FREE Moving CheckList

Port Charlotte - Punta Gorda FREE Moving CheckList
You have found your dream home and are just waiting for moving day. You may be so excited that you may forget some things. It is a good idea to make a list of things to do ,as they come to mind. Here is a checklist that will help make your move easier.

1. Return your library books, and return everything that you borrowed . Remind your friends to return books and other items they borrowed from you.

2. If you are moving out of the area , close out safe deposit boxes and bank accounts .

3. Arrange for the school records and doctors records to be transferred to new location if applicable.

4. Have a garage sale or donate items you do not need. Donate magazines and books that you do not need , to the library.

5. Discontinue services like utilities, cable, newspaper and trash.

6. Pick up change of address kit at post office. Inform the post office of new address as well as the following :
magazines, credit card companies, insurance companies, and all the people on your Holiday Card list. Do not wait till the holidays. You can just email people on your holiday list and if you have a new telephone number include it. Buyers usually call us and say they have received mail for previous owners.

7. Make arrangements for your pets. I have seen a few cases where they have forgotten to take the pet.

8. If you are hiring a moving company get references and try to get two estimates. Make sure they are insured.

9. Get a voter registration card for new address.

10. Change the address in your passport and driver's license. Get new return address labels.

11. Don't forget to make sure your new and old location is clean and ready.