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Home Buying in Somersworth : Real Estate Advice

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Activity 4
Mon Jul 30, 2012
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.

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!
... more
0 votes 1 answer Share Flag
Thu May 7, 2009
No one answered:
Your very welcome!!! :) Let me know how you make out.
0 votes 3 answers Share Flag
Mon Apr 27, 2009
Jacquelin Andronico answered:
My advice would be to sit down with your agent and pull up the last 30 days of sold's in a 1 mile radius of the house you are thinking of writing (be sure not to cross any major boundries, your agent will know what these are) an offer on and let the market answer that question. You may find that it is not in your best interest to offer under asking at all, it may be better to come in at asking or slightly over. ... more
2 votes 2 answers Share Flag
Sun Sep 28, 2008
Todd Lyndes answered:
Lester, Not sure what your question is but I live in Somersworth too. I'm sure I can help with your search. Give me a call.
0 votes 4 answers Share Flag
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