looking for a rent to own in Clayton (Cary: apartment, foreclosure)

[Ebabe]

curently we are renting in Riverwood we LOVE it however our rent is ALOT, we plan on buying a home next year when our credit score is higher, right now we are looking for homes that rent for under 1,300 a month ,any of you know of homes in riverwood, flowers, wynston or other developments like that in which we can rent for one more year? Oh we have 3 small dogs

[cherry052882]

The Flowers Plantation has a 2.5 bed, 2 bath, on Denby Circle for $1000, plus it has a two car garage.

Where are you renting at Riverwood?

[saturnfan]

Avoid rent-to-own deals which frequently go bad.

Just rent and save up a down payment.

[VickiR]

There is a huge difference between a "Rent with OPTION to buy" and "lease purchase".

It sounds like you are looking for a lease purchase. This is where your credit is a bit iffy or you are saving to put more money down but need a place to live in the meantime. It is VERY IMPORTANT that you get an attorney to draw up the Lease Purchase document. That way, it spells out exactly how much rent you are going to pay and how much of that rent goes towards the purchase of the home. It also spells out how much down payment you are making and how much is refundable and how much is not.

Vicki

[seattlenextyear]

Have you thought about Cary? Its sunny and 72 degrees everyday there and all of the houses are made of rainbows and dreams.

[saturnfan]

Originally Posted by seattlenextyear

Have you thought about Cary? Its sunny and 72 degrees everyday there and all of the houses are made of rainbows and dreams.

And everyone is great because the evil HOA is always watching.

[saturnfan]

Originally Posted by VickiR

There is a huge difference between a "Rent with OPTION to buy" and "lease purchase".

It sounds like you are looking for a lease purchase. This is where your credit is a bit iffy or you are saving to put more money down but need a place to live in the meantime. It is VERY IMPORTANT that you get an attorney to draw up the Lease Purchase document. That way, it spells out exactly how much rent you are going to pay and how much of that rent goes towards the purchase of the home. It also spells out how much down payment you are making and how much is refundable and how much is not.

Vicki

If the owner loses the home to foreclosure or gets it encumbered with liens before you take title, you've wasted your additional rent that was to go toward the down payment.

Stay away from these deals.

[Ebabe]

thanks for all the advice, we are going to try to buy. we are not happy with Riverwoods HOA fees they are expensive and we got notice for our basketball net sitting in our driveway, funny how one street can have 9 of them in driveway, and on our street we are told to hide them when not in use????? same development different street, Looking for a home where I have a little more freedom. wish me luck

[saturnfan]

Originally Posted by Ebabe

thanks for all the advice, we are going to try to buy. we are not happy with Riverwoods HOA fees they are expensive and we got notice for our basketball net sitting in our driveway, funny how one street can have 9 of them in driveway, and on our street we are told to hide them when not in use????? same development different street, Looking for a home where I have a little more freedom. wish me luck

Good luck.

If you don't succeed, consider a nice apartment community with amenities like a pool and a fitness center.

My complex is way less controlling than many HOA's.