Newbie Here Wondering Whether To Sell Or Lease To Buy Option.....
im a college student and i bought my first bank sale in october...i didnt plan on living in it this long however i had to....however this has turned into my favor....instead of having 20 or so thousand in equity i now have around 30 or maybe a lil more....my question is this..should i try to sell it now or try a lease to own option? I actually got paid to buy this house...and had no closing cost...i may have put a few thousand into it, but its def in selling condition....houses in my area are renting for about 300-400 per bedroom...my house is 4 bedrooms...after mortgage/tax/insurance i could probably net about 500-600 dollars a month...any help would be appreciated!
els0528
when it comes to the down payment for the l/o what is a percent to ask down? i would get a line of credit but i already have been approved again for a second mortgage for another house around the same range for what i bought mine for previously....i just have to put 10% down...on the first it was 100% financing....thats why i was wondering what i should do....thanks for your incite!
els0528
sorry...but i also should of asked whether or not i should negotiate the selling price at the beginning or towards at the end? the area around here is booming...however, people are starting to sell in my area to capitalize on their property appreciating...all of your incite is greatly appreciated....
els0528