Considering Buying Home That I Currently Rent

Considering Buying Home That I Currently Rent

Member since 2025 · 1 post · 0 votes

I like the 3/2 townhome that I have rented for about 1.5 years now. The owner is an elderly person, in his 90s. The owner and I have communicated by email a few times, while the property managers change. The owner seems of completely sound mind. 

The owner's daughter recently took over as property manager.

The lease expires in late November.

Does anyone think I would be out of line to email the owner directly and ask if he would consider selling the house to me at a price on which we would hopefully agree?

This would be a cash deal.

Ideally we would not use a real estate agent. Also the house was built circa 1995. I am handy. I do not want a home inspector, because I know the house well and waiving a home inspection may sweeten the deal. 


I would hire an attorney to do the transfer of title for I figure a few thousand dollars at most.

Any other observations about how to proceed to possibly agree on a fair price and buy this home, so that all feel good about the transaction?

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  • Real Estate Coach · Chicago, IL · Member since 2020 · 171 posts · 64 votes
    1y

    This sounds like a great opportunity! I would go into the conversation with the current owner and ask what price they feel is fair and would move them to sell! Of course I would come to this conversation prepared with the price that works for me as well. That way you have a basis to negotiate and let the conversation flow freely from there. Best of luck!

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