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83401 : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying2
  • Home Selling1
  • Market Conditions0

Activity 5
Thu Jul 21, 2016
Kare.stod asked:
We have two adjacent parcels, one in my name, one in my mother's name. We listed them with an agent - one listing for both properties as we wanted to sell them as a unit. My mother…
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Sat May 11, 2013
Ron Thomas answered:
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.

There is no FORM printed by anyone; there are just too many variables.
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!

Good luck and May God bless
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Mon Jun 11, 2012
Jim Paulson answered:
Tyler,

Every rental will be a little bit different in what is included or is not so always double check!

Keep in mind with many home loan interest rates under 4% and some of the first time home buyer programs, there are ways to move into YOUR OWN HOME instead of a rental for less out of pocket both up front and monthly!

If you enjoy paying your landlords retirement instead of your own, stay on the path you're on. If you like the idea of taking advantage of the great first time home buyer programs team up with a Realtor that understands them that can guide you through the steps.

Best of luck!
Jim
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Thu Jan 28, 2010
Bill Eckler answered:
Destroyer,

Making a successful offer on a property may be about more than offering less than the asking price.
Is this purchase a short sale, foreclosure, or a regular sale?

Your offer should be presented after you have had an opportunity to review and digest all available information on similar property that has recently sold. This information should provide the information necessary to make an educated and informaed offer....one that places you in a position to be percieved by the seller as a serious buyer.

Ask your agent to help you with obtaining this information.

Good luck

The Eckler Team
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