Updated over 5 years ago on . Most recent reply
Newbie/ Owner Financing
Hi, newbie here. I am renting a 2bd 2 1/2ba condo for $1225 a month. The owner has just proposed a rent to own and asked me to make an offer. Before I make an offer wouldn't I need to know the terms? What she is asking for a down payment, interest rate, monthly payment , ballon payment over how many years, HOA fees and agreement, things like that in order to do the math and see if the numbers work? She said if she listed it it would be around $115,000. I couldn't find comps in the same zip code but one zip code over I found a couple of 2/2 1000 sq ft between $106,900 and $110,000. My condo is 1200 sq ft 2 2 1/2.