Home Buying in Dobbs Ferry>Question Details

Goddesshands…, Renter in

I am curious if there are any rent to own homes in the area, and also if the average tax in this area is manageable... Thank you :)

Asked by Goddesshands78@yahoo.com, Wed Jun 26, 2013

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Hi, I'm sure there are but you should know that these types of arrangements always benefit the seller/landlord. You as the tenant/buyer could stand to lose a good bit of money depending on how the deal is structured and future market values. Always have an attorney review the agreement and advicse you accordingly. The taxes in Dobbs are standard for the Rivertowns (tend to ne on the higher end compared to other areas. How manageable they are will depend on your budget and tolerance.

1 vote Thank Flag Link Wed Jun 26, 2013
Rent to own opportunities are rare as most owners prefer to sell outright. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright. As for the taxes, they do vary based on exact location, size, schools, upgrades, etc.
1 vote Thank Flag Link Wed Jun 26, 2013
Westchester County still has the highest property tax rate in the U.S. and taxes on some of the waterfront communities may be higher.

We're currently working with home buyers and sellers in the area. Feel free to visit our site, Westchester Real Estate Services and let us know what you're looking for in a rent-to-own home. We'll be glad to give you a hand.

0 votes Thank Flag Link Wed Jun 26, 2013
I agree with Anna. In this market, most sellers would rather just sell to a traditional, qualified buyer, and get their money and be done. I assume you want to do rent to own because you can't qualify for traditional financing? FYI -- rent to own situations very rarely work out, and really only benefit the seller. The seller charges you higher rent than normal, and in the end, the market conditions have likely changed so much that either the seller wants to sell at a higher price, or the market has dropped and you don't want to buy for that price anymore. I would focus on seeing what you need to do to get a mortgage, and save, save, save!
0 votes Thank Flag Link Wed Jun 26, 2013
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