Five most dangerous questions not ask about a lease purchase

1) Is this house worth what the owner is asking for it?

The owner can legally ask for more money than the house is worth. The majority of lease purchasers are not experienced in determining the true value of the house.

Always call an independent licensed appraiser.

2) Does this house have any structural problems and does the heating or air conditioning unit have any safety problems?

Most lease purchasers are not experienced in the art of inspecting the structural integrity of the house or the safety of the heating and cooling system. Always call an independent licensed inspector.

3) Can I qualify for a loan to purchase this house and what would the mortgage , interest, taxes and insurance cost me?

Very few lease purchasers know their credit score and how that will affect their ability to borrow the money to purchase the home. Always meet with a mortgage broker to view your credit score and understand how that affects your ability to borrow money.

4) If I am ever in fault with my lease do I lose my deposit money?

A lease purchaser or any other is a binding contract that should always be viewed by a third disinterested party. Always have a experience real estate professional look over the paper work.

5) Does it make sense to do a lease purchase on a home?

Some times it does, but remember that over three thousand people lose their homes to foreclosure in the Atlanta area every month, and untold lose their money in lease purchases because they did not seek outside help in the above four areas. The only thing worse that not owning a house is the losing of your home. Protect yourself.

View Property Management Inc. can answer any questions you have about lease purchases. Give us a call, the information is free.

770-922-0385 Viewhomerentals.com

 
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Home rentals in Rockdale County, Dekalb County, Newton County Georgia