Option On 1.5 Acres W/mobile Home, Soon To Go Commercial
I am moving in to a mobile home on short notice due to the unexpected sale of the current property I am living in.
The owner of the 1.5 acres+mobile home is asking $30,000 for the entire acreage and structure (including septic tank, city water, and utilitiy hookup).
This land is right off a local county highway, and as I observe the local trend, I expect it to go commercial in the next few years.
In the meantime, I need a place to live. I am not prepared for a downpayment, etc... as I have been rushed into this move. However, I am getting a place to rent for $300/mo. (the mobile home). With great neighbors, too! With no lease or rental deposit.
It is so hygeinically bad inside the mobile home (mainly smoker's residue, etc...) that I asked him if he could steam clean the carpets (no) and he's not willing to put down new flooring.
I just went out and bought some really nice maple laminate flooring @ .99/sq. ft. which, with taxes, came to $310.37. No labor cost. I have that handled.
Due to the situation I'm in, I figure this is the best deal. I cannot force a landlord to do what they do not want to do ... and this gives me peace of mind. I'd rather spend an extra $100 on the laminate (which is the difference between that and renting a steam cleaner and paying for the cleaning chemicals ... plus ... I get rid of the non-hygeinic carpet). I did see a roach earlier today ... so I don't know if he'll even call an exterminator, so I might have to foot the bill there, too, if he's not willing to "put any money into that" either.
He seems to be a reasonable guy ... I just think he doesn't see the value in clearing out the carpet and putting in something else someone's gonna screw up only to replace it again. But roaches are a different case ... so he should sway, there.
My bottom line is this ... what sort of solid deal should I ask for in the rent-to-own option on this land/MH package? He keeps thinking downpayment and interest loan, as in a standard purchase.
This is new territory for us both and he has reverted to saying that he would "have to meet with his attorney" which, I figure is due to unfamiliarity with this type of transaction.
But I do need to present my offer clearly.
Ideas?
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