We're currently renting a house that was on the market for a little more than 2 years. It's an 1930-ish Sears home with an addition. The house is on a lovely double lot but was never going to see at $209k as was originally listed. They dropped it down to $189k and it still didn't sell. That's when we moved in. We've been here less than a year and the owner showed up with a realtor the other day saying he was going to re-list the house. We're interested in buying but here's the thing, dh has been at his current job for a little over a year after several years of unreliable employment. With that came a few dings on our credit and I don't think a conventional mortgage is an option at this time. We're considering asking the owner if they'd sell on contract. Does anyone know anything about this?
I'm beginning my research on this topic and would love any insight you might have.
We know the owner is never going to sell this house for $200k when one could buy a newer house with less "wrong" with it and less to fix up for under $200k so we feel optimistic. Just don't know how to go about doing this. We really don't want to move again but we're fairly certain they won't renew our lease.
Edited by Casha'sMommy - 5/4/12 at 6:19pm