Property Q&A in New Rochelle>Question Details

Lourdes, Home Buyer in 10801

Does anyone know of any rent to own coop, homes or condos in the new rochelle area?

Asked by Lourdes, 10801 Wed May 6, 2009

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I assume you mean a lease-purchase, where a sale price is negotiated for the property at the time of signing the lease, both parties are bound by the agreement, and a portion of the rent is applied to the down payment. These are rare, for the simple reason that it is almost impossible to predict what the value of a property will be in a year or two. If the value goes down, the buyer feels he/she has paid too much, and if the price goes up the seller feels he hasn't been paid enough. Sometimes you can negotiate a sale price for a property at the end of your lease if the property is put on the market for sale. You can ask for a right of first refusal if that happens. Good luck! Margie Weschler
0 votes Thank Flag Link Wed May 6, 2009
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