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Home Buying in Addis : Real Estate Advice

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Activity 2
Sun Nov 25, 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
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Tue Feb 9, 2010
Pat & Steve Pribisko answered:
Yes, it is. But, a Buyer has to have a purchase agreement in place no later than April 30, 2010 AND the purchase has to be complete no later than June 30, 2010 (meaning the Buyer must own the home by June 30, 2010). Josh, start looking for a home now to make sure you start "shopping" now, as you need to find a home you like soon, so you have plenty of time to make the April 30, 2010 deadline. You need a Buyer's Agent to assist you. The Buyer's Agent assists you in your home search & will look out for your best interests, but the commision is paid by the Seller. So, the assistance of a Buyer's Agent is at no charge to you. ... more
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