Property Manger blocking deals???

[Troy Michaels]

Ok, i know that was a weird post title, lol. Anyway, here is the situation. I am renting a home that i would eventually like to buy with my own financing. Im trying to improve my credit scores right now to do so, but it will take a while. The property is owned by a trust, i believe. The true owner is old and lives out of town. He has a friend hes known a long time manage the property. Here is the problem: I have approached the property manager on either a lease purchase or owner finance. The property manager said that the owner will sell, no problem, but the property manager keeps coming back with unrealistic (in todays market) terms. The property managers wife is in real estate, and i get the feeling they may be trying to block any deal i do, so that they can acquire the property for little or nothing down the road. The property manager said the owner wanted 40,000 down and a balance of 80,000 on a owner finance. He even mentioned the due on sale clause. Why would the due on sale clause NOT be a issue on the 40,000 deal, but he brings it up in later conversations. Seems like he wants to say anything to discourage me. Sooo, my question is this: my lease is up at the end of the month. I know the true owners contact information. Would it be a mistake to just call and deal directly with him, cut out the middle man????? Is that bad business, or do what i feel i gotta do?

[Jon Holdman]

You're wanting to buy the house. You certainly should be dealing with the owner, not the PM.

$40K might be enough to pay off the existing loan, eliminating the due-on-sale clause as an issue. OTOH, a 33% down payment is ridiculous for an owner finance deal.

Who knows or cares what motivating the PM. Contact the owner and work out something direct with him.

If this is a convoluted deal, just find another house. Its not as if there is a shortage of properties for sale.