Would people who are selling their home be willing to rent if they arent getting any offers? ?
If they arent getting any offers wouldnt it be better to have some income than none? How would I ask a seller to consider renting their home to me instead of selling it?
6 Responses
schwildcat1977
06 Mar 2010
tkahrs12122
06 Mar 2010
Absolutely not. To sell house must be in pristine condition and no renter will do that.
loanmasterone
06 Mar 2010
Some homeowners will rent or lease a property if it does not sell immediately.
Some will not because they are not in the business of being a landlord, don’t understand or know the business. Some have heard horror stories of renters and what they do to other people property.
If you see a house for sale for an extended period of time, you might call the person and ask if they will rent to own or lease with an option to purchase.
You might not always get the answer you want, but the more you ask the better chance you have of eventually getting the answer you are seeking.
If the property is listed with a real estate agent then you would have to go through the real estate agent to get an answer, but ask you should.
The answer to your question and I can not stress it enough "You have to ASK" knock on the door and "ASK"
Make sure if you ask and they say no, leave a number for them to reach you in the event they change their mind.
I hope this has been of some use to you,good luck.
"FIGHT ON"
A D
06 Mar 2010
They might.
Are the owners still living in the house? If so, they may decide to just wait until the market gets better.
If the house is vacant, they may have a written agreement with the real estate agent for a specified period of time for offering the property for sale.
You can try, call the listing agent, or contact the owners directly.
They may be agreeable.
Cheryl G
06 Mar 2010
It does make sense to rent a home that isn’t selling. Before calling the seller, decide what you can pay for rent. Then, decide if the offer will be fair to the seller. If so, you might as well give him a call and make an offer.
You could also consider a rent-to-own arrangement. Your rent would be a bit higher each month, but the additional funds would go toward the down payment after a specified period of time (say, a year).
Be sure to get an attorney to help you draw up any lease agreement for any rent-to-own arrangement. For a simple lease, the listing agent for the property can help with that. Do have an attorney review the terms, though.
glenn
06 Mar 2010
A person may have their house up for sale with plans to buy a house and move after they sell that current one. If they never sell then they would never move. Most of my houses that I have listed in the last thirty years have been in that situation.
So I would estimate that about 90% of the owner occupied homes out there for sale would not be interested in renting.
A builder has legal reasons for not renting his properties. I would say almost 100% of builders would not rent any home they have standing unsold.
A vacant home for sale that has been occupied before would be a different matter.
A bank that owns a foreclosure would not often want to rent because it would mess up their books.
A relocation company would only want to rent under very special circumstances (you would have to agree to move with very short notice, not have pets, have very nice furniture and allow showings almost at anytime..that sort of thing).
Each house and each owner is a different story. If you ask you can find out the story on that particular house. Ask the Realtor that has it listed if it is listed.
I’m not sure how to go about asking them, but a lot of people do that.
EDIT: that is not true about builders. I have 12 condo units rented out for a builder and there are 2 others in my area renting out their condos because they have not sold. It never hurts to ask.