Just make sure your agent discloses and discusses all these possibilities with you.
Best of luck!
Norma E Garcia
When you do a lease purchase a bank will want to see a monthly rent payment that is very close to what your mortgage payment will be. So if you are buying a 200k home and your mortgage PITI would be around $1700 then you will need to make a rent payment similar. So first negotiate what a fair rent will be (say $1000) and what percentage of that monthly rent will count towards the down payment. Secondly, put any additional monies in rent ( $700.00) above that, in a long term escrow account with the closing Title Company. There may be many variances and the seller may want a portion of that additional monies if you don't follow through or perform your end of the agreement. Everything is negotiable so do your homework and put everything in writing IN DETAIL.
Silvercreek Realty Boise Idaho
As previously mentioned, this is an issue a skilled real estate professional will be able to assist you with.
Difficult times sometimes require different measures and many of today's potential buyers are considering this route.
For an owner to seriously consider a purchase option it normally requires a sizable deposite to get the owner's attention.