Todd Anderson

Christine

A lease with option may be a good way to allow you out of your current home without the pain of having it sit empty and still making the payments. But there can be quite a few downfalls to a lease or rent to own from the seller side. You need to think of what the end result you want is. Are you going to turn around and buy something else with the proceeds? The problem with a lease to own is that the renters may never make it to that buying stage... there are horror stories of prople that have gone in and made changes while they were in the rental only to not be able to buy the house and not able to return it to the state it was originally in. Being a landlord is not easy and that is the position you are in as the seller on a rent to own. Generally, things are still selling in our market, but you need to listen to what your REALTOR is telling you and price it agressively. Don't get caught up in what it may have been worth 18 months ago. Feel free to contact us if you have more questions about selling or using a Lease with Option to Purchase to sell your home. - Tue Oct 28 2008, 16:07

You should expect your taxes to run somewhere between 0.5 and 1% of the assessed value per year depending on the city, county, whether it is a primary residence and a few other factors. $2000 per year would be a good estimate that will allow you to make your decision. - Sun Oct 26 2008, 17:34

WK

Take a close look at the Real Estate Purchase Contract you signed. Chances are that it was written by an attorney for the developer and it will lean toward the developer.

To get a certificate of occupancy, only minor details can be left unfinished and inspectors must feel that the property is ready for immediate occupancy. Be aware that things can happen very fast at the end of a project and when deadlines approach that affect the ability to close on contracts, work gets done.

If you are looking to get out of the contract because the developer has not held up their end or for any other reason, it would be best to consult with a real estate attorney. - Tue Sep 30 2008, 06:31

The failure of Wamu will probably cause a bit of delay. In general slow and/or intermittent communication is one of the biggest hurdles of a short sale. Since you received a verbal acceptance, try and contact the person that gave you that acceptance.

Good Luck - Fri Sep 26 2008, 10:28

Cindy

Let me know how I can help. - Sat Sep 20 2008, 19:50