I am interested in finding a condo or townhouse for rent to own due to some credit issues. I currently pay 1120 in rent.

Asked by Shirley, Hampton, VA Thu Jun 7, 2012

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3
Gary Bodie, Other Pro, Hampton, VA
Fri Jun 8, 2012
Shirley;
I have a 3/1 house that I could do rent to own. 48 Cedar Ave, Newport News. Rent is $895. Rent to own for $995 with $200/month non refundable credit. $1000 deposit. Let me know if you're interested.
--Gary 757 342-7416
1 vote
Ron Thomas, Agent, Fresno, CA
Wed Oct 24, 2012
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
Arminpartash, Home Buyer, Hampton, VA
Wed Oct 24, 2012
are you still looking to rent a condo
0 votes
Yes
Flag Wed Oct 24, 2012
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