Rent vs Buy in Salisbury>Question Details

Aljh423, Home Buyer in Raymond, NH

Rent to Own option?

Asked by Aljh423, Raymond, NH Tue Aug 7, 2012

My long time boyfriend and I are looking into purchasing a home soon and have recently heard of the "Rent to Own" option. I was wondering if any of you had home owners between Rowley, MA and Greenland, NH that are looking to get into a rent to own deal with us. We are looking for a 2 to 3 bedroom, single family home with about .75 acres.

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3
Keith and Shannon French’s answer
Hi Alijh423, definitely check it out and search around for local resources who are familiar with rent-to-own transactions. We do them here in Maryland and have been for several years and we know of at least a dozen other professionals doing it in their respective states.

You'll hear lots of differing opinions, so get the facts and educate yourself so you can make your own informed decision. Contracts can certainly be structured for a true win-win situation (may folks will say it's all seller-favored, but that doesn't have to be the case). Y

ou're welcome to peruse our site to better familiarize yourself with the concept, but keep in mind each state has it's own rules & requirements.

Wishing you all the best!
0 votes Thank Flag Link Tue Aug 7, 2012
Hi, Aljh423!

Please consider 36 Pond Rd in Raymond, NH.
What rent are you willing to pay?
When do you plan to buy?

I would be happy to help if you would like to hire me as your Exclusive Buyer Agent!

I am a licensed broker in both N.H. and Massachusetts.

Sandy Johnson, Accredited Buyer Agent
ACME Real Estate Group
@ http://www.resandy.com 603-557-3683
Email: REsandy@ymail.com
0 votes Thank Flag Link Tue Aug 7, 2012
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.

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 Tue Aug 7, 2012
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