Property Q&A in Hough>Question Details

C A Scott, Home Buyer in Cleveland, OH

Can I rent with the option to buy and try to fix my credit at the same time?

Asked by C A Scott, Cleveland, OH Mon Jun 10, 2013

In the process of working with a credit repair agency.

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This question was asked from this property: http://www.trulia.com/foreclosure/3111062746--E-77th-St-Clev…

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3
Scott;
Yes you can lease with option to buy while fixing your credit. You'll need to provide seller-landlord letter from the mortgage broker stating that in a year or two you'll be able to buy.
Remember that you'll need to put some down payment when sign lease-to buy option and that money will be forfeited to the seller if you'll not execute this option to buy.
This option doesn't work with bank owned properties and short sales.


Viktor Gavrylyuk
Transaction Realty
http://www.HomesByViktor.com
0 votes Thank Flag Link Mon Jun 10, 2013
Great answer!
Flag Mon Jun 10, 2013
0 votes Thank Flag Link Mon Jun 10, 2013
Hi CA, that is a great idea. We do those type of transactions all the time. Go to our website https://www.newmerciesllc.com to take a look at our properties.

Thanks
0 votes Thank Flag Link Mon Jun 10, 2013
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