I made my first call - Posted by Jeanne
Posted by Jeanne on October 22, 2003 at 13:06:57:
Hi, I’m new to this…have posted before. I am in a difficult financial situation (have posted below “I want a house”, if you want particulars.
I pass a for sale by owner home everyday on my way to work…
and today I called on it! I spoke with the owner who had bought it for his son and daughter in law, who’ve moved out of state. It is sitting vacant. Price is set at $260-something (good for Massachusetts!) and he might be willing to consider a lease purchase with between 3 and 5k down. He said he would call me back or that I should call him back tomorrow. Sounded like a nice guy.
My questions is…if this should go further…should I be blatantly honest and disclose my financial situation to him? I would like to. (Had bankruptcy, etc…) I actually had to sell my home of 17 years last December out from underneath a foreclosure. Any thoughts on this? If everything proceeded according to plan, I would offer him 3k now, 2 years to secure the mtg and complete the purchase…and X amount for rent, with X amount going toward our down-payment every month. Would offer him asking price as incentive. Yes, I know lots of variables.
Any thoughts on what if anything I should tell the seller(s) about my financial situation. Thanks.