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Re: renting with option to buy - a good idea.

Posted by please read on February 06, 2002 at 18:54:30:

In Reply to: Re: renting with option to buy posted by please on February 06, 2002 at 13:08:47:

Renting with option to buy can be a great deal. My brother in law acquired his home near Buffalo in this manner, for no money down. In his case, his landlord wanted to sell the house, and was willing to make a deal with him that the rent he paid would form the down payment, and at the end of the year, that down payment could be combined with a regular bank loan to buy the house.

Of course my brother in law had the contract of sale reviewed carefully by an attorney before signing. That is a "must" when buying any real estate.

The questioner in this case needs to review the contract of sale - the sooner the better. And she needs to reexamine her expectations of buying. Buying a house means you deal with the problems. If she can't deal with this matter now, how does she hope to solve anything after she has no "landlord" to call?

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