Lease purchase - Posted by Bailey

Posted by chris on June 23, 2000 at 17:07:35:

You may want to consider a lease option where the payments are lower as you suggest-but your purchase price would be higher and you may want to be flexible on rent credits as a compensation to them. You would not have to purchase if you are only interested in renting for awhile. When it comes time to purchase you could always assign your contract to a buyer or let it expire. You need to see what comparibles to this property go for-is $138K in the ballpark? What are the normal rents in the area? How much are the owner’s payments? The owner would be more flexible to this idea if the $550 or $600 you suggest still pays their bills for this property.

I’m sure others will be here to give you alternatives soon.

-Things to consider,Chris

Lease purchase - Posted by Bailey

Posted by Bailey on June 23, 2000 at 16:40:08:

There is house in my area a 2 story Cape Cod 3 large bedrooms,2 bath for 138,000 or lease $900/month.How would I get this person to lower the monthly asking price on the lease to say around 550 or 600 dollars a month. Thanks in advance.