Should I buy, Rent, Lease Option?

Joann
Home Buyer
Monroe, GA

We are looking for a home under $80,000, maybe in need of some TLC, NOT a million dollar TLC, or a dozer downer, we'd like a little property with it, 2-5 acres, and a shop/garage unattached. We'd like to move in the spring, if it could be sooner, that would be the best!, but it depends on our home we have now. We're looking for a place North of Athens, a country setting, private, NO mobile homes, yet convient to shopping. We have a home and live in WI. now, that we are selling/renting/lease option, just getting rid of it and out of this horrible place! We would like to make purchase/rent/lease option arrangements so we have a home to go to when we move to GA. Things are still undecided, I guess I'm looking for suggestions as to which way is the best route to take for such a big move. Thanks! email joranger94@aol.com

Answers (7)
Antoinette Moo...
Agent
Moreno Valley, CA

Well, the answer depends upon your specific circumstance, how much do you owe on the home?, can you sell it at the price needed?, if not leasing may be the thing to consider, always consult with your lender regarding the mortgage on this property and if it will affect your new purchase. As for the new location
I would strongly suggest a visit to the area prior to making such a drastic move. Go take a look, spend a few days before you pack and relocate......good luck

Thu Oct 8 2009, 17:07
Matt Thomas
Agent
Athens, GA

Most sellers will be reluctant to contract, if you propose a closing that's not until Spring, but if you can close sooner, you'll have several options. I grew up in Madison County (just Northeast of Athens), and there are some affordable options there, as well as Oglethorpe County (another neighboring community). These are the more rural areas, yet still convenient, for this area.
If you'd like me to send you a list of specific properties that match your search criteria, please email me: Matt@AtlasRealEstateAdvisors.com.

Thu Oct 8 2009, 04:08
Jen Bowman
Broker
Atlanta, GA

Joann, I am not a fan of my clients entering into a Lease Purchase. It can be risky. I recently heard about a woman who was renting to own, had put $8,000 down and the landlord didn't pay the lender. The home was foreclosed on and she lost the money she put in. If you would like a referral to an agent who works the area North of Athens, GA please feel free to contact me.

Jen Bowman
Success Realty
404-456-5024

Web Reference: http://jenbowman.com
Sun Nov 9 2008, 08:21
Joann
Home Buyer
Monroe, GA

Thank you to all your replies. I had lived in GA. for 17 years, I'm pretty familiar with the area's. My daughter remains in Monroe, GA.

Fri Nov 7 2008, 09:15
Joshua Jarvis -...
Agent
Atlanta, GA

Joann,

The best advice was the first one. Rent until you know the area, then BUY. Buying right now is a good idea, but it's never a good move to buy without knowing what you are buying.

Fri Nov 7 2008, 07:20
Scott Godzyk
Agent
New Hampshire

Good Morning Joann,

Bill has set it best. I would like to add that you should go there and make sure this is where you want to be and look at what is available. a short term rental would be best to give you time to look unless you can go there now and find something you like. your best bet Your best bet is to hire a buyer borker who is that can assist you in looking for what you seek and get you some listing sheets. In most cases you can hire a buyer broker at no cost to you as they get by the listing agent through the fee offered in MLS and is paid at closing. this way you have someone looking out for you. Good luck with your search.

Fri Nov 7 2008, 07:11
Bill Eckler-Flo...
Agent
Venice, FL
FIRST ANSWER

Joann,

This is a great time to exercise all three options.....

Our recommendation is to rent month to month until you are able to identify the "perfect property." A home that offers you every thing you are looking for, in yiur ideal location, and offered at a price you can't afford to walk away from.

Find an agent, get pre-qualified and start looking. This way you will be ready when the opportunity presents itself.

Good luck,
The "Eckler team"

Fri Nov 7 2008, 07:07

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