Ask Nafoom: How does a lease purchase on a house usually work?
pretend I know nothing about the subject because I don't. Also, to keep in line with the rhetorical nature of these questions lately, what's wrong with kids these days?
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In that case you are in the driver's seat. Most people considering lease purchases are a little desperate (or "realistic" depending on your point of view regarding the current real estate market)....
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
and says she will not be a part of one and "put her name and reputation on that." Says that if they can't qualify for a loan to begin with, then they are unlikely to eventually qualify. Says they...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
I'm just hesitant to actually purchase a house in Louisiana due to hurricanes, property insurance rates, litigious nature of Louisiana folk, etc.
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
B/C it generally completely cuts them out, or defers their %. So I wouldn't base my assessment off what they are saying.
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
one that worked out either. However, if you own rental properties and prefer to keep them as rentals, it's generally a win-win. You get a signed lease and a bonus that you will much more than likely...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
MedReb wrote:and says she will not be a part of one and "put her name and reputation on that." Says that if they can't qualify for a loan to begin with, then they are unlikely to eventually qualify....
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
she paid $$$ down, that she loses if she doesn't buy it. She's also responsible for all repairs to the house while she's there, basically as if she owned it. AC, roof, etc, her responsibility....
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
before deciding to buy. But again, I'm not in a true lease-purchase, it's more like I just have the option to buy at a fixed price whenever I decide to.
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
See a house that was for sale and then ask about the lease purchase, or what? Most of the time, when you ask a realtor about lease/purchasing, they basically tell you to jump in a lake. And it seems...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
do you have to get approval from the person you are leasing?
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
...so all the usual rental property stuff applies.
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
and dug the fish pond. And she was happy to have me paint stuff, unless it's terrible most landlords don't care about paint. But there's a tree I want to kill and remove by the pool, but she said...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
I didn't want the price to shoot way up while I was renting. Additionally, if a house has been on the market a while, they're probably open to it. Getting rent is better than paying mortgage on an...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
As a "slumlord" I'll tell you that I have had 4 or 5 lease purchases in the last 10 years... 0 (yeah ZERO) of them have worked out... So in every case I kept the $4,000 or so "option down-payment"......
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
I would have never imagined that I would agree to a locked in purchase price without a downpayment.. but I imagine that right now just getting something has to be better than where they were...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
but my rent is less than the mortgage would be, so it's not like I'm really losing anything. What tiny amount would be going to principal the first year or two I'm saving anyway.
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
for 10k less than that I'd probably say yes. Hell probably more just to go ahead and get the equity out without having to put it on the market, and risk it being empty for a while.
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
that it was locked in with a downpayment... I agree there because the downpayment offsets the risk for the price to rise.. You said you have a locked in price with no downpayment..that would never...
View ArticleRe: Ask Nafoom: How does a lease purchase on a house usually work?
getting a loan on it and closing, I'd take less just to get it done. Hell, I don't know if it would appraise for enough these days to get a damn loan on it.But you're right, me having a set price is...
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