I need to make a decision really quick. I am down to the wire.

Asked by Greene76661, Marlin, TX Wed Jun 6, 2012

It is located on Ward St close to the old va hospital. The owner told me that I could live in it till January and then start paying $450.00 until the $15,000.00 is paid for which that is his asking price. The house and land is appraised at $37K. I would be responsible for all the repairs, taxes, and rent. This is a rent to own. The owner wants me to draw the papers up and me and him go get them notarized. I really want the house bad. I am not an attorney and I do not have any background as a Realtor. Upon checking at the tax office I found out that there is a tax lien on the property. The owner told me that he is making monthly payments on the back taxes. What should I do?

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Vicky Chrisn…, Agent, Purcellvile, VA
Wed Jun 6, 2012
Consult an attorney. It certainly sounds too good to be true.
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Guy Gimenez, Agent, Austin, TX
Wed Jun 6, 2012
First, as long as you're just renting and not providing any downpayment funds to the seller, you probably don't have much to risk. But just realize that if the owner doesn't pay his taxes as he says he is doing, the taxing authority will foreclose on the property. With your limited knowledge of these types of transaction, you would be well served to seek proper legal counsel.
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