I have investors that do a lot of them in this area. Yes you do have to protect yourself & know everything involved. That is why I would like to have a meeting with you. You may just decide to lease until you are able to get a mortgage.
NMLS # 6395
Financing Kentucky One Home at a Time
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!
The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?
This is the Ultimate Caveat Emptor!
I could help you with that. I would like to have a meeting with you & find out more about you to see what you would qualify for at this point, where your credit is now, what can be done with it & what you would qualify for in the future. I could explain the lease with option thoroughly to you as well. You have to make sure before you sign that you can & will be able to get a mortgge otherwise you would loose your option amount.
You can contact me through my website & search for homes there as well. I will be listing a home in that area that could offer lease option.