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Home Buying in Bon Air : Real Estate Advice

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Activity 5
Thu May 12, 2016
Maria904 asked:
I am brazilian and I have an apartment there that I rent and they send the money monthly 3000to me, but it is not on my eua taxes. I have been living here for 5 yrs and my pay check is 1000…
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Fri Aug 16, 2013
Marianne Raymond answered:
Student loan should not keep from purchasing a home. You'll need to consult several lenders. Don't give up until you find someone who'll know how to help you achieve your goal.
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Mon Jul 29, 2013
Ron Thomas answered:
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

There is no FORM printed by anyone; there are just too many variables.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!

Good luck and May God bless
... more
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Tue Apr 23, 2013
Dan Chase answered:
Beware of rent to own. Many find out to late that after a given time frame they have to get a mortgage they still can not get. Once that time arrives they are forced out of the house and all the money they had in already. Not all are like this but some are. Be sore to have a lawyer look over any contract before you sign it. If you are low income in many areas there is a free legal service for low income people. ... more
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