Is a lease to own option legitimate when purchasing a home? - lease to own homes in atlanta
I think to open a rental property as an alternative to buying a house. The reason is that they have the capital for a down payment and my credit is not quite wonderful. As a rental property should go ... in the lease, which will be responsible for home repairs, property taxes and homeowners insurance. Can I be responsible if I, during or after they say that my option to move the house at the end of the lease to buy? What should I look to not be cheated?
Monday, January 11, 2010
Lease To Own Homes In Atlanta Is A Lease To Own Option Legitimate When Purchasing A Home?
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5 comments:
This is a legitimate process in good hands, but many people are trying to include it as a ploy to use ethics. You really need the services of a good lawyer, real estate, if you know someone who has extensive experience in the industry.
First, make sure that the price and terms clearly defined. You enough time to exercise the option and are working hard to clean up their credit during this period sure. A year is a minimum and may be able to negotiate more time.
As a rule, the tenant and the landlord will offer insurance to pursue policies that provides for your interest in the structure. It should be for any major repairs, but it depends on what you negotiate and write in the newspaper. They have brought the possibility of the money forward. If you do not buy it (the exercise of its option to purchase) from the date of termination, you will lose the money. If you buy goes to the payment and / or closing costs.
This can be very beneficial to both parties if they ethical and well-written document.
This is a legitimate process in good hands, but many people are trying to include it as a ploy to use ethics. You really need the services of a good lawyer, real estate, if you know someone who has extensive experience in the industry.
First, make sure that the price and terms clearly defined. You enough time to exercise the option and are working hard to clean up their credit during this period sure. A year is a minimum and may be able to negotiate more time.
As a rule, the tenant and the landlord will offer insurance to pursue policies that provides for your interest in the structure. It should be for any major repairs, but it depends on what you negotiate and write in the newspaper. They have brought the possibility of the money forward. If you do not buy it (the exercise of its option to purchase) from the date of termination, you will lose the money. If you buy goes to the payment and / or closing costs.
This can be very beneficial to both parties if they ethical and well-written document.
You have to pay a slightly higher rent and the money is if I can get money for yor payment and closing costs to use. For only that which was written youexpect and live with him for several years - always pay by check, because your paper trail, if you for bank financing
I am a mortgage banker in TN & KY
1. have everything in writing. If you consult in doubt, go a lawyer or real estate to a good library and find the laws of your country on this issue. . The best would get the insurance, even if it is not necessary for the case.
There are few good answers, but not exactly right here. You save money and headaches. Get a lawyer. I have the mandate to declare and verify to their satisfaction.
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