How to Get Sellers to Call You and Offer you Their Home for a Rent-to-Own

Now that we’ve discussed ways to find rent-to-own homes, what would you say to having rent-to-own sellers call you and offer you their home? That’s right. You can just sit by the phone and wait for sellers to call you and tell you about their rent-to-own home.

Many of these sellers will not have their homes listed with a real estate agent, so if you are working with an agent, this may not be for you.

The advantage of having the seller call you is that you already know he is willing to consider rent-to-own. You just need to figure out if his home and terms will work for you.

“Alright Wendy! So how do I do this?”

Posting ads is a way to get sellers to come to you.

Posting Ads

The first way is by posting ads about yourself and rent-to-own. Here is one example:

This is a sample ad of what you would put in the newspaper where space is an issue – the more space you use the more it costs you. These ads though are just enough to get the attention of a home seller who has started to think about what choices he must make if he doesn’t sell soon.

You can also post an ad on FREE sites like Craigslist, Yahoo! groups and Google groups. I also recommend posting some flyers on community bulletin boards as well as posting flyers using these FREE Internet sites. These methods are much cheaper than the newspaper classified ads and may be all you need.

The whole purpose of these ads is to filter out the home sellers who don’t want tenants and to get the ones that would consider tenants to call you.

Here are some questions you can ask sellers once they call you:

• Where is your home located?
• Can you tell me what price you are looking to get for your home?
• How many bedrooms and baths does it have?
• Do you know what the rental rates are in your area? About how much were you thinking for monthly rent?

Not only will these questions help you gain more information about the sellers, it will also help you build rapport with the seller as well.  Check out my book Rent-to-Buy to learn more about other ways to get sellers to call you.

Rent to Buy is your hands-on guide to buying your next home as a rent to own.  You can get your next home NOW without having to qualify for a mortgage until later.  To Learn more about Option Agreements purchase your copy of Rent-to-Buy today.

Feel free to comment and let me know of other ways you  have sellers calling you!

In the previous post I  discussed each contract and the basic points each covered.  Today, I am going to share with you the specifics of a Rental Agreement, the type you should have and some of the key clauses that should be included in the agreement.

Most good Rental Agreements take the guesswork out of the picture for you, making your life significantly easier. They do this by having all of the regular terms and conditions pre-printed. One important thing to remember is that you should NEVER draft your own rental agreements (or any other contracts for that matter) from scratch. Always use pre-created contracts (preferably pro-buyer) and just fill in the relevant details. Creating your own contracts can cause you enormous headaches and potential legal problems.

There are three different types of contracts:  Pro-Seller, Neutral and Pro-Buyer. You, as the buyer, will want pro-buyer contracts for your transaction, whenever possible. You can order these on my website if you don’t already have them. They offer you the most protection and the most favorable terms.   The type of contract can make a HUGE difference.  If you use the pro-buyer contracts, the seller is responsible for all repairs, or you can choose to share the expenses. Using a pro-seller contract or a lease from a real estate agent could result you might end up being responsible for ALL repairs to the property during your rental period.

Here are a few clauses you will find in my rental agreements that make them pro-buyer.

Insurance

It’s very important that the owner continue insurance. He or she is responsible for insuring his home during the rental period, not you. You will want to obtain renter’s insurance to protect your possessions, but the home itself must be insured by the owner (seller).

Maintenance, Repairs or Alterations

The Landlord gives the tenant the right to make repairs or improvements to the property at the tenant’s expense. This is where you will want to put in who will pay for what repairs. I personally like the owner to pay for repairs during the option period when I am the buyer.

Rental Payments

It is very important when you are doing a lease option that you make SURE the seller is paying his mortgage payment.  If he doesn’t pay it, your dream will become a nightmare.  I recommend you have your monthly payment made to their mortgage company versus to the seller directly.

Check out Chapter 7 of Rent-to- Buy for more insight into Rental Agreements.  Rent-to-Buy is a great gift for the Holiday's.  Order  your copy  TODAY!!