This guy wants to sell me his house for 150k. He owns it right out. H ew ill do seller financing also he'll do rent to own.Is there something i can do so that it would benefit me?
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Besides the fact that the seller wants $150K and that works for him is it a good purchase price for you?
If it is a good deal there are creative ways to get the $15,000 the seller wants.
If it is a good deal then call me and we will figure out a strategy.
Thanks,
Joel
If you can figure out what it will rent for and get him to take payments less than that and figure in taxes and expenses then it will win for you. He owns it outright so he will budge some.
any more questions don't hesitate to call or email me.
Jayne
609-893-0831
jayne_g@yahoo.com
If you don't have enough for the down payment, "Lease to Own" might work out. Make sure you get yourself familiar with all the details. For example, it's not uncommon in this kind of arrangement, for the rent payment to be higher than market rate and part of that payment will be a credit to your eventual purchase, however if you violate the terms of your lease you can potentially forfeit any credit you might have accrued towards the purchase. I would encourage you to research this thoroughly before pulling the trigger and letting a good attorney review your contract before you close.
You are so right there is not enough info.
I want to buy this house to live in.The guy is selling it cause he is moving down south. He want 10%(15,000) down so i was thinking maybe i should lease it from him so that would give me time to save up some money to buy it.So i wanted to know what are some things i can/and do to help me with this.
If you are seriously looking for some advice, you need to provide more details. No one has responded because there is no answer. For example we don't know what the ARV so who knows if 150k is a good deal, what about repairs, what kind of terms are offered for the seller financing and or lease option: how long of time, is there any money needed to get into the deal....what's the sellers motivation, why is he selling.
To be brutally honest, no one is going to be able to help without info like this and if you don't have it no one is going to waste their time with it.
If you are looking to capitalize on this potential opportunity, 1) get this info and present it, or 2) find someone to partner with who knows what they are doing.
When dealing with seller financing and lease options, there are different ways you take the deal down versus how you sell it. The docs and contracts are different and if you don't know this you are setting yourself up for failure.
Bird dog the deal out or maybe Partner with someone who can get it done, give up the majority, see how its done and learn...a little something now is better than you trying to deal the deal, mess it up or not close it and end up with nothing.
Hope this helps open you eyes, just trying to save you some heartache and tell you the way it is