Property Q&A in Ann Arbor>Question Details

Amy, Home Buyer in Ann Arbor, MI

Is there a posiblility to rent with option to buy?

Asked by Amy, Ann Arbor, MI Fri Oct 31, 2008

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This question is about this property: http://www.trulia.com/property/1069409759-919-Greenhills-Dr-…

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Okay Amy, Are you working with a REALTOR already?
We could shotgun blast questions all night about different places. Many may consider a rent to own. Is there a reason you want to rent with an option? And why just in the Greenhills/Earhart condos? There are places that are listed that can be rented, and many of these houses/condos may consider a option. would one of these be an option for you or are you only interested in these places?
0 votes Thank Flag Link Fri Oct 31, 2008
Hi Amy,
Do you want to do a rent with an option because of credit concerns or is it because you feel the market has not hit the bottom? I just helped a lady that was told by one lender that she had to work on her credit for the next 6 months before she could buy a home. I referred her to a local lender that was able to approve her on a FHA loan and she has an accepted offer on house and we will close in December. Please give me a call so we can talk. If you are wanting to rent because of market conditions I can help you find a place to rent and see if they would consider an option at this time. I look forward to speaking with you. My direct number is 734-678-7839.

Kim

Kimberly A. Foster
Senior Real Estate Specialist
Certified Relocation Realtor
Real Estate One
555 Briarwood Cir.
Ann Arbor Mi 48108
Cell 734- 678-7839
http://www.annarborestateproperties.com
http://kimsellsannarborrealestate.blogspot.com
0 votes Thank Flag Link Tue Nov 18, 2008
Hi Amy,

It is usually not in your best interests to rent with an option to buy. If you decide not to buy or are unable to b/c of financing the owner keeps all of the extra money that you have been giving them. Also, you have to negotiate a price when signing the lease that is with the current market standards and not what they might be in the future. We have no way of knowing what prices might be for that neighborhood, but chances are it won't be a lot more than where we are at now. Please get in touch if you need additional clarification.

Jackie
jackie@bouma.com
Web Reference: http://www.bouma.com
0 votes Thank Flag Link Sat Nov 1, 2008
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