Creative Rent to Own Approach - Posted by Donald

Posted by Donald on September 13, 2003 at 01:36:48:

There is a home we would like to one day own. It was 1st listed on 7/02 and is located in the Sand Diego area. The original listing price was $2,394,000-there were no takers, the price was next dropped to $1,995,000. They were trying to rent the home but were asking $6,500 way too much. As of last week the owners moved to Mexico and the house is empty. We would like to 1st rent the house, increase our savings and then purchase. We believe the purchase price should be $1.4 million. We would like to offer $4,000 per month in rent with some purchase options during the term of the lease. The owners are motivated. We need some creative ways to approach this deal in order to 1st secure a lease, 2nd have purchase options and 3rd be able to purchase the home without a premium and end up in the $1.4 range while not insulting the owner and souring them on the deal.

We need HELP!!!