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    tjpapa's Avatar
    tjpapa Posts: 22, Reputation: 2
    New Member
    		  
    #1

    Nov 20, 2006, 12:53 PM
    Lease to buy real estate question
    I'm having a tough time selling my house in southern California and really need to get it off my hands due to a job transfer out of state. I've been contacted by a company that wants to do lease it out and pay my monthly mortgage payments for 3 or 4 years and then buy it at the time. The buy price would be agreed to up front as well as who's responsible for repairs and maintenance over time. Seems like an OK deal if we can agree on the terms. I'd rather not rent it out and have to deal with it later if I don't have to.

    Any thoughts?

    Thanks for your advice.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 20, 2006, 12:57 PM
    If this is a reputable company (and you need to investigate them heavily) then it sounds like a good idea. They are gambling prices go up and you are getting a burden off your back.
    walt17's Avatar
    walt17 Posts: 335, Reputation: 28
    Full Member
    		  
    #3

    Nov 20, 2006, 07:17 PM
    Also have a lawyer review the contract to be sure they can't back out. If the price goes down they may not want to buy it, leaving you stuck after you have moved.
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