Lease to Own while rebuilding credit...

Asked by Johnessa Bass, McDonough, GA Fri Jan 23, 2009

I am looking to lease to own a 4 bedroom home in the McDonough area near Wesley Lakes Elementary. I didn't want to go over $1000 a month? Is this realistic with a deposit of $2000?


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Hank Miller, Agent, Alpharetta, GA
Sat Jan 24, 2009
As Elizabeth said, it all depends; if might be better to rent for now. Most lease purchase deals usually wind up with buyer's overpaying - you'd be better to rent and get that credit squared away. Get with a few lenders and see what they recommend, put that 2K away and try ot build on it and look to buy once you get a green light and can qualify. I'm happy to recommend a few lenders -

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
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Elizabeth H…, Agent, Manasquan, NJ
Fri Jan 23, 2009
That depends, you will need a realtor to help you the process. A desposit will depend on the home price and other conditions that the home owner wishes. Sometimes there is a time limit for a purchase when leasing; also depends why the home owner is selling and if they want to hold the mortgage.
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