Profile picture for MsRMG66

property listed for sale and for rentDoes anyone have words of caution for me as I am looking to r

  • October 13 2012 - Springfield
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Answers (4)

Profile picture for MsRMG66
Thank you Ms. White for your very good suggestions as well.  I will take all these things into consideration before I make my decision.  I appreciate your time and effort in responding to my inquire, I found it very helpful. 
  • October 15 2012
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You could certainly try and negotiate a longer term lease with the landlord or ask the landlord to give you the first right of refusal to purchase the home, should he decide to sell in the future, and if you really like the property and would like to stay for the long term. Affordable rental homes in decent condition are hard to come by, so depending on what your criteria is, you could keep looking if there is an inventory to choose from, otherwise you may need to settle on the best negotiation terms that will satisfy both you and the landlord for the time being, if there is a shortage of rental housing in your area.
  • October 15 2012
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Profile picture for MsRMG66
Thank you, I found your suggestions to be quite helpful.  If I decide to rent the property a 1 year lease at minimum would have to be agreed upon.  Thank you again for your time and suggestions.
  • October 15 2012
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Profile picture for pmzsteve
I wouldn't rent the home. Chances are after you do the seller will find a buyer who may want to move in. If you like the house a lot and have to have it, try and buy it. Chances are your mortgage would be cheaper than the rent. If you cannot qualify, get a long lease, preferably over 12 months. That way the new owners have to honor it and the incoming buyer will most likely be an investor and not a owner occupant.
  • October 15 2012
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