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I really need some input and please don't be mean. We HAVE TO MOVE!

So I was working with a realtor and found out my credit was so so. It would take a few months to clean it up. We really need to move, and there is no guarrantee we will get financed in time. We are coming in to about $100,000 by march. We need to move before that for other reasons. We found a rent to own home we like and would be going through the owner. We could move in asap and decide to purchase later. My realtor is not liking this. She says the house is high and we'll get screewed, we get that, but we like it and we could get in for sure. We have looked at other homes. We think we could stay at the new house and clean up our credit. However I'm inexperienced in this. I wonder if my realtor is gonna tell us things because she will lose $$$ if we take this house. We were lied to the last time we bought a home. She seems like a nice person but I don't know. Any ideas?

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Anonymous

Asked by Anonymous at 10:17 AM on Jan. 10, 2010 in Home & Garden

Answers (4)
  • She is going to tell you that, because she's not going to make any money off a rent to own home, but it is very possible that you're going to get screwed. My family just lost $50,000 on a so-called contract for deed deal. We got screwed so badly after taking over his unfinished house project, finishing it ourselves, moving in after waiting on him for over 2 years to do his part, and then he jacked up the price once we were already moved in. I feel my blood pressure go up just typing about it right now. Be careful. You might want to take your realtor's advice anyway.
    GoodMomma24-7

    Answer by GoodMomma24-7 at 10:21 AM on Jan. 10, 2010

  • It is not contract for deed, he's willing to go month to month on it or when we get our money we could try to buy it. Or we could just lease it for six months. I guess I should have been more clear. Sorry! We may not get approved right now anyway, then where would we go? Ahh, i feel stuck between a rock and a hard place.
    Anonymous

    Answer by Anonymous at 10:25 AM on Jan. 10, 2010

  • I would say get it all the terms you are comfortable with in writing.
    marilyp

    Answer by marilyp at 10:41 AM on Jan. 10, 2010

  • If I had listened and taken the advice from my realtor a year ago she would have screwed us over a thousand times with information that was totally incorrect while buying a second home. Once we over rode her and went about contacting the owner directly did all our problems end. I just have had bad luck with realtors. I only use them if I have too and never sign a contract with one so you can't use other realtors.
    MSugarKane

    Answer by MSugarKane at 10:45 AM on Jan. 10, 2010

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