looking for rent to own

Asked by Debra Stratton, Augusta, ME Mon Nov 19, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Ron Thomas, Agent, Fresno, CA
Mon Nov 19, 2012
BEST ANSWER
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.

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!
0 votes
Lisa Hicks, Agent, Auburn, ME
Mon Nov 19, 2012
Hi Debra -

I can help you with that. My brokerage currently has properties in Augusta and Gardiner that are available for lease/purchase. Give me a call and I'll go over them with you. 207-592-5374
0 votes
Search Advice
Search
Ask our community a question
Foreclosure in Augusta Zip Codes

Email me when…

Learn more