I just looked at a house for sale by owner/investors rto 4000.00 down 850.00 a mo 50.00 towards equity monthly

It sounds to good to be true and i am a first time home buyer so i am very nervouse... It is a brick home over 2500 sq ft w/firplace 4 bdrm 2 ba. what do you think??? What do i need to look out for??? thank you!!I just looked at a house for sale by owner/investors rto 4000.00 down 850.00 a mo 50.00 towards equity monthly
Is this a rent to own thing? the $50 isn't much toward your purchase. that means you are paying $850 a month, $50 of that going to the purchase of the home (and how much is that home, anyway??) $800 of it just in rent and they sit on your $4000 that you might forfeit if you don't buy the house. what are the other terms of this offer? How much is the overall cost of the house? How long do you have before you have to buy it and get financing?





check out www.naca.com





they are a non-profit housing advocacy group that lends it's own money. they will help you clean up your credit and they will help you become a homebuyer. NACA hates predatory lenders and anyone who preys on the poor and struggling in their attempts to purchase a home. They really beleive in helping people get a foot in the door with home ownership. Check them out! Good luck!I just looked at a house for sale by owner/investors rto 4000.00 down 850.00 a mo 50.00 towards equity monthly
This is a good deal, it is called a lease with an option to buy. You will have $50.00 toward your down payment when you exercise your option to purchase the house. Find out the purchase price and have it in the contract. If you fail to exercise your option you will lose your $4,000.





Most of the time with an option to buy there is little or no credit check. After the option you are normally treated as the owner and you refinance the house as oppose to purchase the house.





You are responsible for the up keep of the property if you sign the option to purchase to include the cutting of the lawn. Add some type of paragraph about roof structural and foundation protection in the lease that the owner are responsible





Before you buy or sign anything get a walk through by a state certified inspector your state to find any possible defects in the property.





I hope this has been of some use to you, good luck





';FIGHT ON';
I am a mortgage specialist. Why don't you get mortgage financing? Can you qualify for a mortgage? How is your credit? How much is the house worth? What state is the house in? Depending on your credit, it may be possible to finance you with a 90%, 95% or 100% loan. If you get a 6% seller's concession, I may be able to amortized the closing costs into the loan. You can reach me at wwi_2@yahoo.com and I will walk you through the process.