What Is Good About This Deal?
New Ryland community fazing out now; few left; few in foreclosure.
We bought new 1-06 for 405K ...
Has been on market and we took the price way down to 354K. Now we just got an offer from a couple who had foreclosure 2-3 yrs ago and have a lease option for 1 yr, lender says they need 18mos to finance.
Their offer to us.
Rent 2000. (market 2200)
100 credit if rent paid before 1st.
No option money or refundable option money if they cannot get financing.
Sec Dep. 1000.
They have the right to an inspection w/in 6mos. of occupancy.
Thoughts?
i would just give them the option to rent only and then they would have to try to strike a deal later if they indeed wanted to buy. You must get something out of the deal.
Have you guys ever heard of the normal timeframe for an inspection w/ a LO? Before, during, or after. It seems risky in the middle of a lease...
fyi Both are govt. employees in DC, great incomes. She works for HUD...
I was thinking an owner financing deal would work better, gotta check when our ARM expires.