Tue day after Mon and before Wed..Nothing special here
#74
Registered User
iTrader: (12)
Join Date: Nov 2002
Location: Reno, NV
Posts: 18,369
Car Info: 1993/2000/2001 GF4 mostly red
We're not homeowners ("Uh, what" "Homeowner's Insurance will cover it." "HUHUH HUHUHUH!") just yet. We signed a lease with a purchase agreement, which means any time before it's up (Dec. 31, 2009) we can show up with a check for $199,500 to buy the place. If we don't, all we lose is our time and rent. The agreement calls for market rent + some extra which goes into a pot towards the price of the house. It counts as a down payment when we sign our mrtgage paperwork eventually. All in all it's a pretty good deal for us, especially since the price is a bit below even the current depressed market value, and will probably be somewhat higher next spring when we'll probably be finalizing the loan.