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How do I write a leagal letter to a man who has his house for

Customer Question
sale by owner and we...
How do I write a leagal letter to a man who has his house for sale by owner and we want to make him an offer o rent the house with $5000 down, we will pay $1400 a month,plus pay the taxes, and any repairs for the house. We want to buy the house, the man is selling it for $169000. we can't get a loan right now but in 3-4 years we could pay the balance of what is owed. The seller said he is hurting for money and this house has been for sale for OVER a year, nobody lives in it now and we really want this house!!!!!
Submitted: 6 years ago.Category: Legal
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Answered in 5 minutes by:
8/1/2011
Lawyer: Teacher Editor, Instructor replied 6 years ago
Teacher Editor
Teacher Editor, Instructor
Category: Legal
Satisfied Customers: 1,339
Experience: College Instructor
Verified

Linda Roch :

Hello and welcome! If you have any other questions, please let me know or please click Accept.

Linda Roch :

All you have to do is just write the same thing you put here and mail or fax the offer to him.

Linda Roch :

Then it will be up to him to accept it.

Linda Roch :

Since this isn't a sale, this will basically be a lease.

Linda Roch :

lease to own and he can write so in the lease that he gives to you.

Customer:

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??

Linda Roch :

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.

Customer:

are you there?

Linda Roch :

yes i am

Customer:

ok. that brings me to another question.

Linda Roch :

Please let me know what that question is and I will be more than happy to answer.

Linda Roch :

Please press Accept at the end.

Customer:

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?

Linda Roch :

Unfortunately, the only thing you can do is to try to build your credit or go to the seller directly.

Linda Roch :

If you have outstanding debt on your credit or errors on your credit report, you may want to take care of those first.

Customer:

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.????

Linda Roch :

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.

Linda Roch :

so the only way to get out of this is to buy for cash or to get a consignor who has great credit.

Linda Roch :

Please press Accept.

Customer:

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??

Linda Roch :

I specialize in bankruptcy

Linda Roch :

and I would say that out of 10 places that my clients try to rent

Linda Roch :

8 of them will rent to them if they give a two month security deposit

Linda Roch :

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.

Linda Roch :

Even those that do have good credit

Customer:

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?

Customer:

Hello???

Customer:

I would like to press accept but you are not there to answer my last question.

Customer:

are you there???

Linda Roch :

I am here

Linda Roch :

I did not see your last question before

Linda Roch :

It is ethical for you to go to the realtor since the realtor is separate from the rental company.

Linda Roch :

The rental company is in charge of renting the residence while the realtor is in charge of selling it.

Linda Roch :

Since you want to inquire about buying the property, you can definitely go to the realtor

Linda Roch :

Please let me know if you have any other questions.

Teacher Editor
Teacher Editor, Instructor
Category: Legal
Satisfied Customers: 1,339
Experience: College Instructor
Verified
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