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Rent vs Buy in 19050 : Real Estate Advice

  • All25
  • Local Info8
  • Home Buying11
  • Home Selling1
  • Market Conditions0

Activity 2
Gregory S. M…, Real Estate Pro in Upper Darby, PA
Sat Jan 26, 2013
Gregory S. Moton II answered:
Mzjanea, taking on a lease purchase is a risk but if you are willing to meet the sellers demands and can deliver your part of the deal it can be a great opportunity for you. You have to be sure that whatever credit or income challenges that you have can be realistically resolved when the option period is due or you risk losing most if not ALL of your escrow money. Executing a lease purchase agreement is all about negotiating the right terms and having the right Broker that understands the process representing you. It makes it that much easier. Good Luck in your search!

Gregory S. Moton II
Moton Properties
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Tim Moore, Real Estate Pro in Kitty Hawk, NC
Sun Jun 10, 2012
Tim Moore answered:
Understand this part, you have to be able to get a loan to buy it! You agree that in a year you will buy the house, until then you just rent it and pay an extra amount so the owner won't sell it. If you can't get a loan then you can't buy it in a year and you LOSE the option money that you paid. Rent to own is a suckers bet for most people so avoid it and rent now and buy when you can really buy. ... more
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