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Home Buying in Bunnell : Real Estate Advice

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Activity 2
Fri Jan 27, 2012
Don Tepper answered:
No. Mortgage companies don't offer them. (Answers from Kevin and Ron are both correct.)

You'd find a lease-option or lease-purchase either on your own or with a real estate agent. The terms of the lease and the option (or purchase) would be negotiated with the seller. You'd then lease for a period of time. (Kevin's advice regarding 3-5 years is excellent. The longer the better. Don't do a deal with a 6 month or 1 year option.) Then, if/when you were prepared to purchase, you'd go out to a mortgage company and get a conventional mortgage.

Investors also offer lease-options and lease-purchases. In that case, you'd make the deal with the investor and then, at a later point when you were ready and able to buy, you'd go and get a conventional mortgage.

Point is: Mortgage companies come into the picture only when you're ready to buy. Before that, you're dealing with the home owner or an investor.

For tips on how to find lease-options, see http://bit.ly/findaleaseoption

Hope that helps.
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Sun Jan 15, 2012
Michael Emery answered:
Are you taking into account that the cost of moving a non mobile home from one location to another begins @ $10,000 and goes up depending on the size of the home and the distance to the new property? ... more
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