Question Details

Tao, Home Buyer in Mississippi

would like to understand how lease purchase homes work. Do you still have a home inspection, then?

Asked by Tao, Mississippi Sat Jun 28, 2008

a final price, still have contingencies for any repairs, etc? Are there different prices depending on a lease purchase versus an outright buy? Does the rent build up equity in the home? We are being transferred and have not sold our current home, so we are leery of having two mortgages (although our mortgage is our only debt with only 64k left , no car payments, no credit card debt, etc- we do not remotely have bad credit or anything like that) and do not particularly want to throw money away on rent. Any insight would be greatly appreciated

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Not sure about the laws in Mississippi. This is something that can be complicated, all your questions are good, and the answers depend on what you negotiate and what is legal in your state. It sounds like you are a fabulous candidate for this. I can probably refer an agent to you who has this type of experience... where in Mississippi are you?
0 votes Thank Flag Link Sun Jun 29, 2008
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