Mothering Forum banner

1 - 7 of 7 Posts

·
Registered
Joined
·
3,953 Posts
Discussion Starter · #1 ·
<p>I am currently renting a really nice 3/2/2 for $725/mo.  It was listed for $750 but I talked them down. (Go me!)</p>
<p> </p>
<p>I have been here for 12 months and just received my new lease packet which I am supposed to sign and return.  The house is in foreclosure, but it's actually in my best interest to sign a lease because if it goes to auction I will get to live out my lease or at least have 90 days if this all goes down at the end of the lease term.</p>
<p> </p>
<p>However, I never sign a renewal lease without checking the market.  I just found the exact same model of home that I have on the MLS.  The only difference is that the truss-covered porch on this house is screened in and mine is not.  The other house is listed for $705/month.</p>
<p> </p>
<p>I want to offer to pay a lower amount to stay in the house.  The owner is an absentee investor.  He lives 3k miles away.  He's not paying his mortgage, and should be glad he has a tenant who sends him money every month, via ACH, no less!</p>
<p> </p>
<p>So, obviously I wouldn't offer more than $705, but how much lower should I go to compenste for the lack of screening on my porch?  $650 and hope they agree to $675?  How much is a screen worth in rental terms?  FWIW, the porch is about 300 sq ft.</p>
<p> </p>
<p>Thanks in advance!</p>
 

·
Registered
Joined
·
3,953 Posts
Discussion Starter · #3 ·
<p>FL   LOL  It is pretty cheap to live here, but you pay for it in other ways, like the weather and having nothing to do on a Saturday night without driving at least an hour away.</p>
 

·
Registered
Joined
·
1,115 Posts
Heck, I'm a Tampan and <i>I'm</i> jealous of your rental prices! $650 seems so low for a 3/2 house that I'm afraid to even give advice! Screens are so very important all around FLA so I'd definitely be honest with your reasons and offer less money.<br><br>
Good luck!
 

·
Premium Member
Joined
·
31,346 Posts
<p>I don't know about FL law, but I know when the rental I was in was foreclosed on the bank was not required to honor my lease agreement. I consulted a friend of the family that is an attorney as to what my legal rights were as a tenant. As for offering less, eh I'd do my research and find a rental that is legit instead of handing a guy free money for a house he isn't even paying the mortgage on.</p>
 

·
Registered
Joined
·
3,953 Posts
Discussion Starter · #6 ·
<p>When was that, Arduinna?  Apparently, there is some new law thst Obama passed that covers renters in this type of situation.  I've spoken to 2 laywers I found on my own as well as the law firm that represents the bank.  I've been told consistantly that the foreclosure is in the early stages, it will take about 8 months to go to auction, and I legally get to live out my lease.  If the owner files bankruptcy or tries to do a mod, that stalls things even longer.  If the house goes to auction sooner than I had anticipated, and if the the buyer plans to make the house a primary residence, I get at least 90 days notice.  So I can't be forced out overnight, I have the resources to secure a different house on short notice, and I worry about moving unneccesarily because my ex is a UAV who owns a house and complains that I move to much and ds should live with him for "stability".  So, it seems it's in my best interest to sign the lease, because that guarantees me til the end of December '11.  If I don't sign and the house goes to auction in, say, 3 months, plus my 90 days notice, I would have to move in 6 months.  Other than that, I totally agree with your mindset.  LOL</p>
<p> </p>
<p>So, I pay $725.  An exact replica of this house, with the added feature of a fully screened porch, is going for $705.  Is it unreasonable to offer $675?  Or should I lowball at $650 and hope to meet them at $675?</p>
 

·
Registered
Joined
·
3,953 Posts
Discussion Starter · #7 ·
<p>Wanted to add that I can find a different rental house and check with the county court to see if there is lis pendens, but even if there is not, it could change overnight.  Our area is lousy with abandoned homes.  People are literally packing a suitcase and leaving everything else behind.  A friend of mine is feeding his family by emptying out abandoned houses.  So, it's a crapshoot no matter what I do.  *shrug*</p>
 
1 - 7 of 7 Posts
Top