I Got A Stay Of Execution Tonight WHEW

[ronp]

I know many are concerned about me with the move and pack ETC, and I thank you my friends.

I talked to Carol tonight and she has been living with her sister and BIL for over a month for free.

Anyway they sold their house and will be closing soon and will be moving out. They figure to be out soon and Carol will stay behind and pay 300 a month with her other sister to pay the mortgage till the end of April. That gives me almost 2 months to figure out the logistics out. WHOO HOO!!

I am excited about this and thought I would share it here with my friends and family here.

Originally they wanted me to be there 3 days ago, no way Jose! I was really under pressure. This way she will have another 4 paychecks to also help with the costs involved in the move. Finally some logic has entered the picture.

I still have some packing in the garage to do, some painting and house cleaning and clean the yard of weeds etc.

I still have to figure if we are going to sell or rent or rent to own which makes some sense to me.

Any advice on rent to own?

Nothing like having a family here, and I thank you all.

 

[jamminjimi]

That is awesome news. Good luck with the move and in the future.

 

[beer-b-q]

Good to here , that should give you some breathing room....

 

[mr mac]

You know we're here to help! When it comes to rent to own homes, I highly suggest you get a real good real estate broker or, better yet, real estate attorney involved if it's offered by the seller. Second, just like buying a home outright, get an inspection and make any offers contingent on repairs made to your satisfaction or concessions (price, etc.) made to your favor. There's really no difference in the steps you should take except that many times agents are not involved. Just protect yourself and go with your eyes wide open and you'll be fine! Good luck!

Mac

 

[jjwdiver]

MAC hit it right on. Doesnt matter who you are buying the house from, YOU must protect YOU! A good Realtor will be working for you with your best interest. I often find that rent-to-own is not as financially sound as Contract for deed, which is another option in this area. Sometimes the $$$ out is higher in a rent to own. just my .02

John

 

[timtimmay]

I don't have advice on whether or not rent to own is the way to go over selling, but I can give one piece of advice. Have a real estate attorney draw up the contract. Realtors are very helpful in lots of things, but use a legal expert for a contract like that. It will cost ya, but it will be worth it. The house next door to me is a rent-to-own type deal. The first tennants he had in their screwed him over and he had a weak contract and he had a real headache. 2nd set of owners came in and he had a much better contract he had drawn up by a pro and he hasn't had problems since.

Other piece of advice, don't do a rent-to-own if you don't like the idea of being a landlord, most people get into the rent-to-own and don't actually buy the property. You'll be a landlord for a while.

 

[dave from mesa]

Great news Ron
Have no advice but good luck in your decision.
Oh I forgot you are moving to where?

 

[ronp]

I have a property management/realtor to handle it. 10% comm on rental. I may rent, rent to own, sell it outright but the resale market is bad now. They will do all the different checks, background, credit etc. They handle the payments, and maintainence, etc.

Great news Ron
Have no advice but good luck in your decision.
Oh I forgot you are moving to where?[/quote]

Salt Lake City area.

That's what I am affraid of, that is why I am leaving all options open.

 

[mulepackin]

Glad to hear you got some breathing room. I can't help with your decision, I've always been of the buy due to the investment issue, but there are most likely other factors involved here. Good luck.

 

[rickw]

Very good news Ron, glad to see you can your time and nor be rushed.

 

[pops6927]

We had to leave our house in NY to complete our move to Texas and hired a property management firm. They rented the house out, oversaw it, collected the rent, and when all the pipes froze and it got soaked with 17,000 gal. of water hired all the contractors to repair it, and sold it for us. They were invaluable partners that were there for us for almost 2 years, as we were 1800 miles away.

 

[rgacat]

Who is the property management company you are think about going with? I had one for our home in ABQ. that did me a great job back in the early 90s. Can't think of their name but they were from RR.

 

[ronp]

Good to hear that pops.


http://discovery1realty.com/

They seem to be reputable. Been in business for 20 years family owned and operated.

 

[richoso1]

Ron, glad to hear that things are finally working out for the two of you. Be careful about renting if you're not around, maybe have somebody on the block that can keep an eye out for you. I had to look out for a buddies place, and they still ripped him off. I wish you an easy and safe trip to Utah, the drive is nice.