Home Buying in 12477>Question Details

Aligale, Home Buyer in 12477

We are looking to rent a house in Saugerties with a minimum of 3 bdrms, 1.5 baths.We are also interested

Asked by Aligale, 12477 Sun Jun 28, 2009

in lease with option to buy. We are a family of four.
Thanks, Ali Gale

Help the community by answering this question:

Answers

3
Thomasine Helsmoortel’s answer
Hello Ali,
My Agency just listed a home in Saugerties, and the seller will rent with an option to buy.
Most "rent w/ option" will ask for a down payment, credit references. There will be a contract and a closing date. You can negotiate a portion of the rent going towards the purchase price, or possibly a balloon
payment. There is no set rule, both parties will have to agree on the deal that is structured.
This can work for both the Seller and Buyer...the buyer has a chance to save some money
and the seller doesn't have to leave his home vacant, and has money for the mortgage or
maintenance.
0 votes Thank Flag Link Wed Feb 16, 2011
I know of several foreclosure properties that are set to come to market shortly, as well as a some families who are considering offering a short sale, but might be interested in renting. Please e-mail me at janineb200@gmail.com or call me at 845-806-7041 so I can get some additional information from you and see if any of these might be a fit.
0 votes Thank Flag Link Mon Jun 29, 2009
If you are a first time home buyer then the time is right. I know you did say that you wanted to rent with option but you didn't mention the reason why. What is your budget for rental? Have you checked your credit lately? You are entitled to check it once a year for free by going to http://www.myfico.com. Might as well contact a lending institution and see what you could afford if you were to buy. You may want to do this yourself and you can use any mortgage calculator and you'll find one on my website: http://www.exittogreenrealty. The reason I am suggesting a purchase rather than lease is because home prices have never been lower and mortgage rates have never been lower. Add an $8,000 credit for a first time homebuyer to use for closing or downpayment and you're at once in a lifetime.
If you are determined to rent with option it may take some time to find that type of property and of course your credit will need to be great. I could help you with a pristine 3 bedroom townhouse but it is in New Paltz.. My suggestion is to work with a certified buyer agent who will guide you through out the entire process.
0 votes Thank Flag Link Sun Jun 28, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer