love this house but divorce will not be final until December - any chance the owner would be willing to lease until then?

Asked by benae.smart4, Boise, ID Sun Aug 12, 2012

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Joel and Jul…, , Meridian, ID
Tue Oct 9, 2012
It sounds like the only thing keeping you from purchasing now is your divorce being finalized and that you have a firm date on that. If this is the case you make look at getting pre-qualified listing your divorce being finalized as a condition for final loan approval. If so you can make your offer with a closing date after your divorce is finalized.

It's not impossible to find a seller willing to do a short term lease however, it is a sellers market and right now and the simpler the offer the better chance you have of getting the home you love.

Also, we work with a local lender who often can help with special circumstance financing like this and may have another strategy to offer. Contact our team if you have any additional questions or if we can serve in any way.

- Joel Hess, The Good News Group
Silvercreek Realty

208-794-2220
Joel@TheGoodNewsGroup.com
http://www.TheGoodNewsGroup.com
0 votes
Jim Paulson, Agent, Boise, ID
Sun Aug 12, 2012
I have done a number of lease purchase sales and there is no "one way" to do them. Each one is unique as the buyers and seller's needs are unique. There are a lot of potential problems with lease purchases so make sure you team up with someone that knows the pitfalls.

For example, what if you do everything right on your end of the bargain and the seller loses the home in the process to foreclosure? Or what if they declare bankruptcy and can't get the home released from the bankruptcy trustee to sell it to you?

There are ways to try to guard against these issues, but especially in today's economic climate, Let the Buyer Beware, is truer now than ever.

Let me know if you like a free consultation to discuss the situation in person.

Jim Paulson, CRS, GRI, EPRO
Owner/Broker - Progressive Realty Corporation
0 votes
Mike Barth, Agent, Meridian, ID
Sun Aug 12, 2012
Please let me know the address and I can contact the owner or listing agent to see if that may be an option. The timeline is not really that far out of the question. Thanks for the opportunity-Mike
0 votes
Beck Forster, Agent, Meridian, ID
Sun Aug 12, 2012
What house are you referring to?
0 votes
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