RazorbackMustang
MT82 Lover
Longish story. We've been renting our current house for about 2.5 years. Landlords changed about 6 months into the lease, so they've been the same for the last two years. They've been absolutely fantastic. They even fixed our driveway, which was cracked at the entrance and caused my car to drag. No questions asked, new driveway poured. Dishwasher started leaking, new dishwasher was in the next day. So we're VERY happy with them.
Their primary business is real estate, not rental homes. They were given this house by our first landlord because they were owed something and this settled some sort of outstanding debt. So they own the house free and clear.
I don't have a huge down payment available, nor can I get one in any reasonable timeframe as we're working on getting rid of our consumer debt right now. However, we'd like to get to a place where we can do some things to the house. From my point of view, it's a win win for both of us. They sell, at a reasonable market price, we buy without all the extra crap that would come with dealing with a bank such as ridiculous closing costs and such. They get out from under the obligations of a rental home, covering repairs and such.
Has anyone gone through this process? I would like to approach them with this in the next week or so. Any advice, suggestions, pitfalls, personal experiences, etc would be appreciated. Thanks guys!
Their primary business is real estate, not rental homes. They were given this house by our first landlord because they were owed something and this settled some sort of outstanding debt. So they own the house free and clear.
I don't have a huge down payment available, nor can I get one in any reasonable timeframe as we're working on getting rid of our consumer debt right now. However, we'd like to get to a place where we can do some things to the house. From my point of view, it's a win win for both of us. They sell, at a reasonable market price, we buy without all the extra crap that would come with dealing with a bank such as ridiculous closing costs and such. They get out from under the obligations of a rental home, covering repairs and such.
Has anyone gone through this process? I would like to approach them with this in the next week or so. Any advice, suggestions, pitfalls, personal experiences, etc would be appreciated. Thanks guys!