Want To Do Lease/purchase
My daughter is getting a divorce, and her credit is bad because her ex stopped making payments on their house. She is now living in an apt but would like to do a lease/purchase on a condo. She is hoping if she leases for a couple of years before trying to purchase, her credit will be repaired. Is this feasible?
I would try to look for an owner financed deal (contract for deed, etc.).
Her credit would be improved in the process and when she wants to pay off the seller it will be considered a "refinance" and not a new purchase.
Just my two cents.
Owner financed deals are usually better than lease option deals for the buyer/tenant.