2007-02-19 16:21:25 · 7 answers · asked by Tiffany C 2 in Home & Garden ➔ Other - Home & Garden
make sure everything you can think of is in writing, a gentlemans handshake wont stand up in court.....
2007-02-23 15:14:37 · answer #1 · answered by ALLENROUNDHEAD 2 · 0⤊ 0⤋
2
2016-07-18 17:06:34 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I believe that a home owner who made that kind of offer had the house on the market for longer than they're comfortable. That put's you in a better position to negotiate in my view.
Then everything depends on the arrangements and whatever they are should be specified in a contract.
Usually, in my experience, part of the rent accrues toward a future purchase of the property at a specified time in the future or at a certain amount of accruel for a down payment.
You can go on the internet and find what properties are bringing on the market in the approxiamate area of the property location. Your costs for the property should be less or equal to the proxiamate property values in that neighborhood.
I think it's can be a good arrangement for both parties!
2007-02-19 21:47:25 · answer #3 · answered by telwidit 5 · 0⤊ 0⤋
There are both pros and cons for both renting and buying,if you buy a home and the area starts getting bad,then you are stuck with a mortgage for many years,but at least you have something to show for your money,on the other hand renting is money that is being wasted on something that will never be yours,like money down the drain,but if the neighborhood starts getting bad you can always move
2007-02-19 16:33:10 · answer #4 · answered by Anonymous · 1⤊ 0⤋
No.
Contracts like that are based on the fact that you may want to buy.
Unless you are interested in a two month winter test trial or a Summer home trial to see what you may find, good or bad about the house or apartment, meaning it is your idea, not the owners it is not practical.
Plus+ the owners can evict you in a flash if someone else offers them more rent money or to purchase the place while you are living in it.
They are just not practical.
2007-02-19 17:09:45 · answer #5 · answered by d4d9er 5 · 0⤊ 0⤋
Look at it this way. All the money you pay to rent, goes straight into your landlords pocket never to be seen again. If you buy a home, that money builds equity. That money is still yours. Just make sure to shop around and get a good morgage you can afford.
2007-02-19 16:29:45 · answer #6 · answered by rabies1979 3 · 0⤊ 0⤋
Rent to own is for anyone who dosen't qualify for a mortgauge. Use extreme caution. Intrest rate can be terrable. Make sure you have a contract.Have a realestate lawyer look it over.
2007-02-19 19:49:41 · answer #7 · answered by mountainriley 6 · 1⤊ 0⤋