Advice on making a Lease Purchase Offer

[tshores]

What is the name of your state? Michigan

Thanks in advance for anyone offering advice of help.

We are interested in making a lease/purchase offer on a home that has been for sale for a long time, probably three/four plus years it has been on the market. I have done some research and have found that recently the mortgages have been paid off, as recently as 3/15/07, according to the deeds office. And also there was a quit claim deed done into the father of the homeowners name. I think that the homeowner was strapped and her father either paid or refinanced the house in his name. Considering that this has been a hard to sell home, and we really like the home, what would be a good lease purchase offer, or something to that effect, that could get us into the home with as little as possible down. Any advise would be greatly appreciated.

[nextwife]

IT may have been hard to sell

OR

the seller was not very motivated and wanted to wait to get their price.

[tshores]

Thanks for replying.

I agree the house may be a tough sell, but we are interested in it.

Any thoughts on a good lease/purchase offer for us to make?

[nextwife]

Originally Posted by tshores

Thanks for replying.

I agree the house may be a tough sell, but we are interested in it.

Any thoughts on a good lease/purchase offer for us to make?

I was pointing out that not all homes on the market a long time mean the seller will jump at any offer. Sometimes they sit on the market because the seller doesn't care that much and wants to wait for a buyer willing to pay their price.

Anyway:

Is the property listed? Consider securing a buyer agent or attorney to assist you. THis is NOT a DIY project for a novice homebuyer.

Don't neglect the following:

Title insurance before the option is paid for and created.

A home inspection continguency.

Municipal special assessment letters.

[Gadfly]

Is this a how to buy real estate site.

[HomeGuru]

Originally Posted by Gadfly

Is this a how to buy real estate site.

**A: it could be.