There is no "flat answer" for that question. I or any Realtor should be able to easily research rental in the area and find the difference! When a Realtor searches the MLS they can see from those on the market and those recently rented the difference in a rental in your EXACT area ( if you are renting in an apartment building or condo/townhouse developement it is even easier!) If mold was an issue, I would suggest consulting an attorney. Depending on your particular circumstances and the lease you signed, mold issues could make the unit legally "unihabitable" and entitle you to compensation for temporary living or housing. A qualified real estate attorney can help sort through the issues.... more
Yeah its tough. The agents who don't know the process seem to ruin it for those that do. After you try to do deals where you don't hear back for 3-5 months and then the bank comes back 10%-20% more than it was listed for makes agents hesitant. We run into the same thing on our listings even though we have complete packages to the banks. Now at least I know that if your name is on it, we can show it and hopefully be closed in 2-3 months.
Well, I hate to break it to you, but nothing is really normal about negotiations. Sellers accept one price and go to sleep and wake up the next morning and want more money. The only thing is, you never mentioned if the sellers actually accepted your last offer and why the sellers increased the amount the want for the home. Since you are in the beginning stages you need to make a decision to see if this home is worth the extra money and can you get financing for the increased offer. Good luck!... more
As a listing agent I do understand the agent wanting clarification on this, but I would have presented the offer to my client's and told them we were waiting on information from the mortgage company. As seller's would you have considered a contract in this case? Maybe even started negotiating on it until you could get verification from the lender?... more
Hi Helen. Good question. There is no way of knowing how long it will take to sell your home or how long it will take to find the "right" home. If you sold your home quickly, do have a place to go? With the help of a real estate agent you might be able to "farm" the area where you want to move.
Cherry Hill, NJ... more
Realtors have the option to put the square footage in or not. Often time they don't put it in because they don't take the time to look it up. I'm including a link for Lake County properties that you can use to look up the square footage yourself. Good luck! If you need help, please let me know.... more
Yeah, August can be a little slow, but once kids are back in school things usually pick up a bit until mid-November. Libertyville right now has about a 7-8 month market time though so things are moving any too quick regardless. If you'd like additional information, we actually send out a quarterly Libertyville Area Market Update along with our guide with to people thinking about buying or selling in Libertyville in the next 3-12 months. If you let me know an address I'd be glad to send you our booklet How To Sell Your Home For Top Dollar...Fast! If you're all set, good look, Libertyville is one of the best seller markets around right now still holding good value. My e-mail is email@example.com if you'd like either of the offers above. Hang in there and good luck. Mike... more
The pros are that you get to live in the home for a specified period of time before purchasing it, so you'll be aware of any defects with the home you might not have known until after you had closed. You'll also get to know the area (if you didn't already) and meet your neighbors. The cons are that you don't get to take advantage of some of the tax benefits from owning a home and in most circumstances there is a non-refundable deposit associated with the option price (this is the cost of the option). There is separate from your security deposit. Your option purchase price could be a pro or a con depending on what the market does in the time in between.
As for as the amount every month that would go towards paying down the purchase price, it's typically $200-300/mo. but this is certainly negotiable as well.
If you have any additional questions regarding rent to own options, please contact me at firstname.lastname@example.org.... more