Property Q&A in Charlotte>Question Details

Erica Henning, Home Buyer in Charlotte, NC

What do you think this house will sell for? Are sellers of a home in this price range open to rent to own?

Asked by Erica Henning, Charlotte, NC Wed Feb 18, 2009

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Hi Erica!
This property has been reduced once since it's been on the market which actually hasn't been for very long. I would be happy to find out if they are willing to discuss a lease purchase for you. Regardless of the type of purchase you end up doing, you will most definitely want a Buyers Agent to represent you. Please give me a call or email and let's discuss what you are looking to accomplish as well as what types of Agency agreements are out there. I'll look forward to hearing from you and helping you get into that new house!
0 votes Thank Flag Link Thu Feb 19, 2009
With rent to own,the owners generally require a nonrefundable desposit,normally 10% of the purchase price. Your monthly rental payment is usually higher than normal as a percentage is deposited every month into an escrow account. This is to build up your down payment. At the agreed upon purchase date,you would have to take your down payment & go to a lender to get financing. if you have approximately $83,000 to put down whic would probably be the requirement here,you could get conventional financing. One pitfall with rent to own,is that if you do not purchase at the agreed upon date,you lose your deposit & escrow funds.
0 votes Thank Flag Link Wed Feb 18, 2009
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