Tuesday, August 16, 2011

How does my friend sell me a house "Rent To Own" with no fees. 1000 a month for 12.5 years=150,000.?

We trust each other, She is not charging me any interest. Every $ I pay goes directly to the price of the house. I am responsible for closing. I do not have $ for an attorney. She gets 1000$ for 12.5 years. Total $ is 150,000. I am responsible for any fees that have to be paid. I pay the tax on the house as well as the insurance payable to her for the remaining balance if anything happens. I know there is allot that has to happen? we are not using banks/mortgage companies simply because its a rent to own and we want to cut out all the excessive B.S. Also the house she is selling me needs a lot of cosmetic inside repairs and she knows that if she puts the house on the market she wont sell or get very little for it. Because my CREDIT is SHOT this gives me an opportunity to Buy a home. We live in Miami-Dade County, Florida. the house is in the same county. 150,000 for a home in a gated community in Kendell (Miami) You can see why i want this home! Shes moving to PA and wants done with it.

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