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Old 01-15-2010, 01:02 PM
 
2 posts, read 4,016 times
Reputation: 10

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My husband and I will be relocating to the Round Rock area in July 2010. We have three young girls and two of them will be attending elementary school next fall. We like Cactus Ranch Elementary and would love to rent a 4 bedroom in that community. We were hoping to find a rental to suit our needs. I see many homes for sale in this community. My husband and I would really like to get to know the area better before we take the plunge of buying. Since the market is a bit slow, we were hoping a seller might consider pulling their home off the market for a period of 12-24 months in order to rent it to a wonderful family from California. My husband is a Doctor and I am a stay at home mom. We both have good credit and would like to stay in the price range of 2000.00-2500.00 per month for rent. So if you or anyone you know fits this description, please respond.
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Old 01-15-2010, 02:18 PM
 
Location: Eastside, WA
326 posts, read 824,070 times
Reputation: 76
I'm surprised no one has responded to you.... I don't have a great deal to add here but just wanted to say that I totally agree with renting first before buying. We just moved here and tough as it was to squeeze into an apartment, it was the best thing we did and gave us the time and freedom [no yard to mow, etc...] to find the right area.

Shouldn't a real estate agent be able to handle this for you?

Of no help at all but good luck!
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Old 01-15-2010, 02:33 PM
 
Location: Round Rock
372 posts, read 1,149,278 times
Reputation: 74
I only see 1 house for lease that feeds into Cactus Ranch.
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Old 01-15-2010, 02:46 PM
 
Location: Round Rock
372 posts, read 1,149,278 times
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Actually, the house that is marked as feeding into Cactus Ranch looks like it is within the Teravista Elementary boundary. So it does not look like there are any houses for lease that feed into Cactus Ranch.
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Old 01-15-2010, 02:53 PM
 
Location: Round Rock
372 posts, read 1,149,278 times
Reputation: 74
I just reread your post and you indicated that you would like to work out an arrangement with a seller to possibly rent or rent to own. I just asked this same question for a client in the Cat Hollow neighborhood a few days ago and the seller indicated this was a possibility even though they only listed the home for sale. I would suggest looking at the current homes for sale and then presenting the seller with a lease or lease to own option. There are currently 42 homes for sale that feed into Cactus Ranch.

Last edited by shankaupas; 01-15-2010 at 03:41 PM..
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Old 01-16-2010, 09:41 AM
 
2 posts, read 4,016 times
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Thanks for the responses. I just recently have been in contact with a real estate agent who recommended waiting until May to begin my search. I tend to want to stay one step ahead when it comes to stuff like this. Participating in a forum is helpful because most responses are honest and straight forward and typically come from personal experiences. Keep me posted. Thanks again.
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Old 01-17-2010, 06:54 AM
 
Location: G-Town
428 posts, read 1,065,274 times
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Quote:
Originally Posted by shankaupas View Post
I would suggest looking at the current homes for sale and then presenting the seller with a lease or lease to own option.
We're also moving there in late July and might just take that advice.
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Old 01-17-2010, 09:33 AM
 
Location: Central Texas
20,958 posts, read 45,410,702 times
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Quote:
Originally Posted by shankaupas View Post
I just reread your post and you indicated that you would like to work out an arrangement with a seller to possibly rent or rent to own. I just asked this same question for a client in the Cat Hollow neighborhood a few days ago and the seller indicated this was a possibility even though they only listed the home for sale. I would suggest looking at the current homes for sale and then presenting the seller with a lease or lease to own option. There are currently 42 homes for sale that feed into Cactus Ranch.

One caveat. If you're doing lease to own, you WILL want to have an attorney write up the agreement for you (preferably attorneys on both sides). While the Texas Real Estate Commission has forms for just about everything (I swear there must be a form for needing to blow your nose!), they do not have one for lease to own and they specifically state that you should NOT use any of their current forms for this purpose and should have a real estate attorney handle it for you.

Way too complicated, too individual, and too many things to go wrong for the attorneys at TREC to write a one size fits most form for it, even. So be careful on these!
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Old 01-17-2010, 02:11 PM
 
Location: Beautiful Downtown Rancho Cordova, CA
491 posts, read 1,261,828 times
Reputation: 402
Quote:
Originally Posted by TexasHorseLady View Post
One caveat. If you're doing lease to own, you WILL want to have an attorney write up the agreement for you (preferably attorneys on both sides). While the Texas Real Estate Commission has forms for just about everything (I swear there must be a form for needing to blow your nose!), they do not have one for lease to own and they specifically state that you should NOT use any of their current forms for this purpose and should have a real estate attorney handle it for you.

Way too complicated, too individual, and too many things to go wrong for the attorneys at TREC to write a one size fits most form for it, even. So be careful on these!
The way I handled it (as a former Texas attorney) was to attach the unexecuted earnest money contract that the parties would execute (if lessee/buyer decided to exercise the option) as an addendum to the Lease/Purchase agreement with the terms spelled out or the calculations shown to derive the terms. It's easier to negotiate and reduce the ultimate terms to the standard TREC form so that if the option is taken by lessee/buyer, most of the work is done and the basic agreement is in place.
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Old 01-17-2010, 02:17 PM
 
Location: Central Texas
20,958 posts, read 45,410,702 times
Reputation: 24745
Well, there is no standard TREC Lease Purchase form as far as I (or the TREC attorneys that I talked to) know. So the advice (per TREC) still stands - get a real estate attorney to write up the Lease Purchase, and do NOT write one up yourself as a real estate agent (which would be practicing law without a license).

To quote TREC on the matter:

"[SIZE=2]Q. Is it legal for a licensed real estate agent to "write" a lease purchase agreement since TREC does not promulgate a lease purchase contract form?
A. No. Under The Rules of the Texas Real Estate Commission, Sections 537.11(c) and (d), a licensee may not undertake to draw or prepare documents fixing and defining the legal rights of the principals to a transaction. Nor can they try to "splice" together any of the Commission's promulgated forms to create a new document to fit the situation."


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