RENT TO OWN

May 2022


 

Purchase price of house and seven lots: 300 K

A minimum down payment of 20% will be needed.

 

The monthly TOTAL cost to the for the BUYER / RENTER will depend on many factors, such as down payment, length of contract, interest rates etc. The likely minimum to meet the SELLERS objectives will be near $3,500 (three  thousand five hundred) monthly.

A balloon payment of $???,000 will be due after 36 months. The seller will then pay of the remainder of the mortgage to Bank of America, the buyer can refinance the loan at that point.

SELLER continues paying all insurances, taxes and utilities. Utilities will be added to the payments. (this maintains the lower property taxes and homestead exemptions until title is transferred upon completion of the contract).

Note:  An agreement for the use of the S three lots, for the purpose of finishing the Catamaran, must be included.

           The details to be discussed.

 

SELLER has sixty days after an agreement has been signed, to vacate the house and clear the 4 lots (negotiable). BUYER / RENTER will be responsible for all upkeep and repairs, maintain the house and four lots in “it's present condition”, which means some repairs and improvements may become necessary. BUYER / RENTER will have the option of retaining the adjacent, temporary structure near the South-West of the house.

 

 

The rented trailer at the rear of the house and its income, are to be negotiated.

 

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