This is risky business, They may do well but you could end up with $20K of damages and a payment. I was in the same situation and finally have a contract on my home and now can qualify for a loan to purchase a new home contingent on the sale/ close of mine. Where is your house I may be interested?... more
Lee, Did you have a specific question in regards to doing a Lease Purchase on your home? I actually specialize in this field, so if you're looking for some free advice, then just give me a call and we can discuss the details. 703-829-7344
I actually have 2 lease purchase homes in Clinton, Tennessee. Here is one you can look at now: http://www.youtube.com/watch?v=Z-tVedYO-eM... more
Many home owners face this exact situation. Giving up on looking at homes in Clinton, TN is easy. However, we both know that's not the route to take. If you're having difficulty selling your home, then I would suggesting getting creative and getting someone to take over those payments. You can do this through a lease purchase or rent to own situation. Not only does this allow you to have someone take on those monthly payments and allow you to purchase a home in Clinton, it also puts a plan in place for you to potentially get your home sold in one of the worst real estate markets in history.
If you'd like to talk more about this, then feel free to get in contact with me at 703-829-7344. I specialize in Lease Purchase/Rent To Own nationwide. We actually have 2 Tennessee rent to own home available in Clinton. Here is a video of one of the homes: http://www.youtube.com/watch?v=Z-tVedYO-eM... more
Much will depend on your debt amount, overall finances, money down, credit score, etc.--visit with any qualified loan officer(s) first, see if you do qualify and how much--keep in mind that lenders have their income v. debt criteria for qualifying for the amount of a mortgageâ€”oftentimes requiring that housing costs are not in excess of one-third of gross income in addition to a stipulated income v. overall debt-ratio. What lenders donâ€™t know are borrowersâ€™ non-debt spending habits, present and anticipated. You, the borrower, need to consider the economic factors of your lifestyle that would impact on your individual comfort level of affordability. A mortgage outside your budgetary constraints can dramatically alter your overall living conditions. So, be sure to factor micro and macro economic concerns into your mortgage amount deliberations.... more
Not sure exactly what your question is, but I will try to help. Real estate companies don't buy homes from homeowvers, we just sell the home thru tried & true marketing stategies to expose the home to the most qualified buyers. Generally speaking site built homes retain their value better than doublewides. Lake access can raise your value if it is year round water and access is thru your own property rather than accross the street for example. The doublewide on Fowler street has been on the market 50+ days with no price reductions. As a professional Realtor, I would recommend having an agent come out to evaluate your property & options with the property you are interested in.
Please visit my site: www.TinaBakerHomes.com for more info. If this doesn't exactly answer your question, please give me a call so that I can better address your needs.
Tina Baker -REALTOR