Specializing in nice Rental Homes, Lease Purchases & Seller Financed Homes
Phone (480) 782-8393 to see a home
9:00am to 9:00pm ~ 7 days / week
For a Lease Purchase, a home is leased (rented) with an Option (contractual right) to purchase the home according to specific terms as outlined in an Option To Purchase contract.
Seller Financing is when the Seller carries (holds) a mortgage for the Buyer rather than a bank. Seller Financing is also referred to as Owner Will Carry (OWC) or Seller Carryback.
For the Seller Financing offered on this web site, the Buyer is required down payment & be able to prove income adequate to make the monthly house payment. While good credit is a great asset to have, it is NOT a requirement for the Seller Financing program.
Riverdale Estates LLC advertises properties from time to time with favorable Seller Financing with a small down payment required.
There are 2 programs often advertised by Riverdale Estates LLC for purchasing a home using Seller Financing (details may vary per property & Buyer circumstances):
Seller Financing is an excellent opportunity for a Buyer that:
Simply apply for the home of your choice & we will help work out the best arrangement for your needs.
Any property that Riverdale Estates LLC advertises for sale can be purchased outright. All offers will be considered. Make an appointment to meet at the property, discuss possible terms, & reach an agreement. Or, the Buyer can write up their own offer & fax or email it to Riverdale Estates LLC. If a Realtor® plans to present an offer on behalf of the Buyer for an outright purchase, please call in advance to inquire about a Realtor® commission.
If Riverdale Estates LLC offers or negotiates a rent-to-own plan, it will be designed to remain stable and have understandable terms that are designed to succeed long term for all parties.
That said, Rent To Own plans offered elsewhere are often designed to fail while putting high demands on the Tenant. A typical deal would involve a Tenant paying high rent & being responsible for repairs for a 30-year period & then having the deed for the property signed over to them. It sounds pretty good, but in our years of experience, we have not heard of one deal that actually completed a Rent To Own purchase or even one that still had a long-term Tenant remaining.
The landlord typically enters into this arrangement not expecting the Tenant to actually purchase the home, but rather to avoid having to think about repairs while collecting the rent & taking the tax deductions. The Tenant enters into this arrangement believing that in 30 years the home ownership will be free, while one late payment will typically void the deal.
Especially in this unusual real estate market, when working with others, be sure that you know who you are working with BEFORE entering into a Rental Agreement, Lease Purchase, or Sales Contract with Seller Financing. Ask plenty of questions. For example, what protects you in the event the seller/landlord dies without estate planning or doesn't pay underlying obligations or isn't the owner of record for the property you are considering or is upside on an underlying mortgage? We have seen too many of these types of problems hurt unsuspecting people.
Using a Realtor®
Riverdale Estates LLC is not a Realtor® & therefore does not charge or collect a commission. A Realtor® is NOT REQUIRED for writing up a sales contract or an Option To Purchase agreement. We have found that few Realtors® are experienced in working with Seller Financing & real estate brokers often won't allow it. Also, a Realtor® must be paid commission for a sale. Most of our deals require a very small down payment, usually too small to cover the Realtor® commission. (The low down payments posted on this website may not be possible with a Realtor®.) For these reasons, we do not suggest that you use a Realtor®, but rather contact us directly.
If a Buyer is represented by a Realtor® & the Buyer wants to participate in Seller Financing offered on this web site, parties must agree on an arrangement in advance to satisfy the Realtor® commission & the Broker requirements, if any, for the Seller Financing.
Riverdale Estates LLC (2006-present), formerly Riverdale Estates Trust (1998-2011), is a family-operated Gilbert-based business that specializes in solving housing needs & providing seller financing solutions. The 'Riverdale' team has an excellent history of satisfied tenants, home buyers & borrowers in the East Valley. Riverdale Estates LLC is not a real estate agency, Realtor®, real estate broker, registered account servicing agency, title company or loan originator. Rather, Riverdale Estates LLC advertises homes for lease or sale for the owners of the homes and at no cost to the tenants or buyers.
For hopeful home buyers, Riverdale Estates LLC emphasizes the realistic & successful accomplishment of buying a home. The 'Riverdale team' has nearly 2 decades of experience in the East Valley helping people realize their dream of home ownership by advertising nice properties, realistic Lease Options & favorable seller financing. Riverdale Estates LLC & Riverdale Estates Trust have proven to be credit worthy, stable, reputable, knowledgeable, experienced & successful in tailoring workable deals to suit each buyer's circumstances. Importantly, all real estate offered is held securely in Arizona limited liability companies owned by an Arizona limited partnership, providing the safety & longevity of solid estate planning, so the buyer can have peace of mind when making the meaningful commitment of home ownership.
For valued tenants looking for a nice home to rent, Riverdale Estates LLC offers well-maintained rental properties in good neighborhoods in the East Valley (Gilbert & East Mesa) at fair rental pricing. Repair requests are responded to quickly & happily.
We welcome your comments & hope you look to us for your housing needs.
Riverdale Estates LLC
Bryan & Soo-Z Deane, Members
9:00am to 9:00pm ~ 7 days / week
P. O. Box 2018 ~ Gilbert, AZ 85299
Office Phone: (480) 782-8393 ~ Fax: (480) 814-9204
Out of State Phone: (800) 301-8775 ~ Fax: (800) 301-9830
Last updated: May 20, 2015
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