Home Buying in Morristown>Question Details

Linda, Renter in Morristown, TN

We are looking for rent to own property - 1200 - 1500 and at least 2100 sq. feet. Is this a possibility.?

Asked by Linda, Morristown, TN Thu Apr 26, 2012

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watch out for rent to own and lease purchase options. i've seen lots of buyers get screwed because of dishonest sellers, and sometimes just due to circumstances. if you do one and the seller is asking for big down payment you need to remember that you will never see that money again no matter what. even if seller pulls a dishonest stunt you have to go thru too much trouble to get the money back and then things that can change that you have no control over include underwriting guidelines, credit score requirements, etc... if you can't buy its better to save your money and rent. the stats say only 1 in 4 rent to own/ lease purchase deals ever get to the purchase goal. the odds are not in your favor.

roy 865 322 0984
0 votes Thank Flag Link Wed Jan 9, 2013
I wpold like for you to call me so we can discuss all your options 865-202-2240
0 votes Thank Flag Link Thu Apr 26, 2012
We recommend that you speak with a lender and have the lender confirm that you will be able to purchase at a future date. This will cause the owner of the property to feel much better about a lease to own. Rates are good and the sooner you purchase the better your chance of locking in a rate under 4%.
0 votes Thank Flag Link Thu Apr 26, 2012
So long as you have at least a few thousand dollars it's possible

BJ Kramps
0 votes Thank Flag Link Thu Apr 26, 2012
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