Home Buying in Snellville>Question Details

Teresa, Home Buyer in Lithonia, GA

My Credit score is 500 are there any rent to own homes out there that are not a scam. I bring home 2200 monthly and paying 700 in rent

Asked by Teresa, Lithonia, GA Wed Jan 30, 2013

I want to get out of this apartment and back into a home please advise.

--
This question was asked from this property: http://www.trulia.com/property/3096114285-2904-Sagemont-Pl-S…

Help the community by answering this question:

Answers

2
Ron Thomas’ answer
Lease/Option
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.

There is no FORM printed by anyone; there are just too many variables.
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!
0 votes Thank Flag Link Thu Jan 31, 2013
We may be able to assist you. Please give us a call at 678-379-9197.
0 votes Thank Flag Link Thu Jan 31, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer