Hello and welcome! If you have any other questions, please let me know or please click Accept.
All you have to do is just write the same thing you put here and mail or fax the offer to him.
Then it will be up to him to accept it.
Since this isn't a sale, this will basically be a lease.
lease to own and he can write so in the lease that he gives to you.
I want the letter to be as formal as possible so he realizes that he has nothing to do but hold the mortgage or deed until we can get a loan. Is there a legal format and legal wording that I can use when writing this letter??
I think the best thing to do is to let him know that you would like a lease-to-own option and that for consideration of your offer, you are willing to put down $5000 and pay monthly rent until you are able to be approved for a mortgage to purchase the property.
are you there?
yes i am
ok. that brings me to another question.
Please let me know what that question is and I will be more than happy to answer.
Please press Accept at the end.
there is another house that we looked at and it is for sale by a realtor and for rent w/ a Rental Mgmt. Co. we can afford to rent this house but the mgmt. co. man said that he could not rent this house to us because of our credit situation. This house has been sitting empty as well and the owner is paying for this this one and a current one. We cannot catch a break, what can we do in this situation?
Unfortunately, the only thing you can do is to try to build your credit or go to the seller directly.
If you have outstanding debt on your credit or errors on your credit report, you may want to take care of those first.
But we need a place to live too, and we are taking care of the credit errors. If we can afford to pay for things now b/c of lowering and getting rid of debt, but we can't get a loan because he U.S. Government has everythin g messed up. How can we prove that we are now credit worthy, where as before when all of this bad credit stuff w/ us happened, we fell behind on a lot of our bills and currently we are in a much better place than before.????
Unfortunately, mortgage lenders are being very careful now since many people have defaulted and one of the ways they determine this is by looking at your credit.
so the only way to get out of this is to buy for cash or to get a consignor who has great credit.
Please press Accept.
I know, but we can't even get a decent place to rent and we certainly can afford with money down to do this. do you have any other advice that might help??
I specialize in bankruptcy
and I would say that out of 10 places that my clients try to rent
8 of them will rent to them if they give a two month security deposit
so it's not a huge issue to rent with bad credit, but when you're trying to buy, that is a challenge for everyone right now.
Even those that do have good credit
Is it ethical for us to go to the reator and talk to her since the rental co. would not even talk to the owner?
I would like to press accept but you are not there to answer my last question.
are you there???
I am here
I did not see your last question before
It is ethical for you to go to the realtor since the realtor is separate from the rental company.
The rental company is in charge of renting the residence while the realtor is in charge of selling it.
Since you want to inquire about buying the property, you can definitely go to the realtor
Please let me know if you have any other questions.
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