Home Buying in Michigan City>Question Details

Linda, Renter in Michigan City, IN

Looking for a 2 or 3 bedroom for rent with a lease option long term

Asked by Linda, Michigan City, IN Mon Aug 20, 2012

I am looking for a 2 or 3 bedroom house that has a finished basement that will have the option to buy. max is 800/month

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Michael Lenz’s answer
HI Linda,

I would recommend not renting with the option to buy, renting is ok, but when you include the buying option, the owner will ask for option money up front to hold the home for a fixed agreed purchase price.

If you do not meet the option purchase time frame or even if you do the option money is just that option money to hold the home i.e.. if you gave owner 5,000.00 option money to hold the home for you, owner gets to keep the money, it will not be a credit given back if you buy the home.

Just like the stock market when you buy a option the money to purchase the option is not given back to you.
0 votes Thank Flag Link Fri Mar 1, 2013
I may have what what you are looking for,please call me at 574-252-9509 thanks Dave.
0 votes Thank Flag Link Fri Mar 1, 2013
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