RentToOwn-HouseFinder.com
Lease-Purchase Option Home... Home Value?
Hubby and I are not in a spot where we can buy just yet (need a few things resolved on our credit first and then we are more than golden for an FHA loan)... So we found this PERFECT home with a lease-purchase option. 100% of the lease payments will be applied to the purchase of the house should we choose to exercise the purchase option after 12 months. I guess my only question here is this... From what I understand, the owner of the property wants the price of the house to be determined when we are wanting to purchase it. Assuming we make an offer soon after the 12 months, do you think the purchase price will stay around the same as it would be in today's market, more or less? I just don't want for us to move into our dream home and find out in a year that the house is $200k more than we want to pay. The house is in a great area, needs no fixing up, 1/2 acre in Peoria, AZ. I don't know comps on the other homes in the area, but I do know that the market stinks right now! Thoughts???
Public Comments
- I have yet to see a home that with out any drastic changes ,physical and economical ,that increased in value by 100k or 200k..dont worry about that...worse comes to worse in a year the house may be too much and you will be financially ready to look for another one!
