looking

[kmtsn]

hi im wondering if any of you know people that buy houses then sell them to others on contract? i live in iowa close to des moines im just wondering if anyone knows of individuals or companys that do this let you chose a house then you give them so much money down then you pay them so much a month any help will do thanks

[ezmoney163]

Most morgage companys require if it a first home that you live within the home a specifed amount of time (i.e. a year).

I honestly do not know of any programs like that. Most people will not take a chance on someone unless it works to their benefit. You may be better off trying to find your own home loan. If it is bad credit you are dealing with their are a ton of bad credit programs out there for home buyers. If it is no down payment money there is little or no cost down options. There is also something called seller assist options, which is basically in a nut shell, extra money to help your side that gets added into your loan.
If you want to buy a home, there are all types of programs out there to help expecially if you are first time home buyer.

Really what you are describing is called a mortgage.

Good luck!!

[Willow]

Are you talking about rent to own?

[mesue]

What it sounds like you are describing is a rent to own deal. Call some realtors and see fi they have any homes like that? Usually what you get is called a deed of trust it is essentially a deed that also sets out the details of the sale meaning you promise to pay so much on a set day just like rent for a certain amount of time and then the place is legally owned by you. The thing is though if you are one day late they can set you out in the street so don't ever be late with the payment. We bought a house this way we paid a down payment and then we had ours set up as a yearly payment to the owner, always pay by check or money order so you have proof you paid it. Anyway if you do this like I said have proof of payments made and keep them in a safe place where you can find them and for heavens sake make sure you get a deed of trust.

I had a friend who did this with a family member, she sold her home, paid a large down payment and then worked on the house and had it in lovely condition, then the uncle set her and her family out in the street and moved his daughters family in it. She had lost everything, so please make sure its done by a legal binding contract.