Sellers Good time to offer Purchase Options??

Question

Hello I am new to this board the only experience I have is in a refinance this past year to purchasee  a home in GA and leave AZ

Listed our nice three bed 2 bth in April and May had a realtor who was busy carting MOM around .. doing his taxes and on vacation the week of the third attempt of closing.. But all the i's and t's in place.. So I really wanted to move and took it off the market ( he refused to remove the sign or lock box.. a real character ) refinanced taking enough for the move cash to set up our in house business out here and down and expenses on this home

We had rented, to a jerk, and  are looking at another month two full mortgage payments.

I really do not want to own property across the country.

I am thinking purchase option / rental.  Is this not the ideal time for something like that??

Patrica loving the East Coast again ( from Connecticut)

BTW I would love to get some investment properties out here so many homes so cute anyone near Camden County GA ? Florida way looking to share experience and risk?

Thanks and hello to you all!

Patricia De Haerne · Answer

Sadly bad Property Managment company all the run through the mill expenses and THEN some, two bad tenants  we lost that property

GA NEwbie now I am about to lose a local investment for family if I cannot find a quick 35900 to finance a balloon..
Help?! Ideas!!
I even looked into an auction any in the southern GA area? Quick Auction .. I am really at a lose my son is attempting to fund it with My husband co sign but.. I am in a panic and all these queries may risk this second attempt to fund the balloon. I have little alternatives

Account Closed · Answer

Note how Tom stated the following:

You can give more. You can not give all maintenance to the tenant no matter what they agree or sign. As the legal owner and landlord the property must remain habitable. That means you paying for the roof, the hot water system, heating or cooling, secure doors and windows, controlling pests, etc.

Evictions have been overturned because of a landlord expecting the tenant to do too much when there was a lease option.

John Corey

Tom Wood · Answer

It is a good time to be offering a lease-purchase.  You can get some money upfront as your option fee and you can give more maintainence responsibility to the tenant.  It's definitely worth your time to look into it.