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Re: renting with option to buy - nature of the beast....

Posted by me again on February 06, 2002 at 20:12:42:

In Reply to: renting with option to buy posted by liz on February 06, 2002 at 12:36:31:

: we are renting a trailer in upstate ny. with the option to buy. the contract says as is. but we still have almost two years to finish paying on it. now the furnace went today. and i have a baby in the house. we called the landlord and he said it was our responsablity. cause we are buying. is this right? we haven't finished paying it off yet. so technically we don't own it. can someone please help answer my question. thank you

in most lease-option or rent-to-own arrangements, responsibility for the maintenance and upkeep of the property is transferred to the 'buyer'. always read what you sign, and know what it means.
maybe they could have set up with the local utility to have a 'maintenance plan' in effect which would have covered this.

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