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Making offer to buy home - advice needed
(John Amp) wrote in
om:
Question:
1) What is the best way to resolve this issue? Is it better for me to
make an offer and buy the house? And rent out the house to him until
November?
2) Or should I write a contract such that escrow will last until the
end of November? That way we don't have to rent out the house and
won't be liable for the house.
3) What requirements should I address in the contract - if I do make
an offer? For example, insurance, cancelling the contract during the
escrow period, etc.
These are not things you want to do on your own. It's ridiculous that you
are asking question #3 on the net. Don't you have an agent? If not, at
least get a real estate lawyer. You could get royally screwed trying to
do this on your own. The money you save isn't worth it.
As far as questions 1 and 2, it's not purely up to you to decide the
terms. If the owner wants to do it a certain way,you'll have to do it
that way or not buy the house. No one here can really work this out for
you. Renting to the previous owner is a fairly common procedure in some
circumstances, but you need someone who can work out a suitable rental
contract, you'll need insurance, etc. It is not at all clear why you
can't just close in November. Please, get professional help!
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