Property Q&A in Tewksbury>Question Details

Alyson, Home Buyer in North Reading, MA

would they accept 40,000 down then rent to own?

Asked by Alyson, North Reading, MA Wed Mar 25, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003678166--Randolph-Dr-Te…

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A general answer to your questions is "probably not." Banks don't want to be landlords. But your idea is a good one for a non-bank owned property. There are some people who will do a rent-to-own, especially with a good sized deposit.

A bank-owned unit the same size as this one, in the same complex, sold a few months ago at $175K, so it is also unlikley that this place will go for $150K. This is not the list price- it is RealtyTrac's guess of what it might sell for at auction.
Web Reference: http://homes.debn.net
0 votes Thank Flag Link Thu Mar 26, 2009
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