Buyout is probably prohibitive for you. If there aren't a lot of buyers competing for the house, your offer could include provisions that the seller is to buyout the contract, or that you will not assume any rentals.Shop-a-holic wrote: ↑ A property we are looking into has AC, furnace and hot water tank rented, driving up monthly expense cost. Wondering if it's advisable to purchase or to continue renting? We have no idea how long we will live in the property. Hoping all goes well, so that we don't have to move elsewhere anytime soon.
100% dealbreaker. I would run awayShop-a-holic wrote: ↑ The deal would have to go through as is (ie. with those items as rentals).
No, buyouts are stupidly high. Don't guess it and get a good value. I could see it easily being over $20. Consider people who rent tanks. It's a $1000 tank that can have a buyout of over $8k. At 8x the real cost, an $8k AC/furnace would be $64k.Shop-a-holic wrote: ↑ The deal would have to go through as is (ie. with those items as rentals).
My guess was AC and furnace would be around $5k mark? Thought buying it outright would bring down fixed monthly costs; however, not sure if there's a downside to purchasing. Hence, debating purchasing at least the two (AC & furnace), or all three vs renting.
How old are the equipments? Likely the buyout would be much much higher. Don’t sign on the deal before knowing what the exact buyout cost is.
You don’t need to ask anything. Walk away..... or don’t and come back when you are ready for your next thread “So angry at rental company, buyout is so high. Give me helps!”Shop-a-holic wrote: ↑ Thank you everyone.
Given it's really a seller's market, what sort of questions should we be asking and keeping in mind with regards to the aforementioned coming as rental agreements?
Your real estate agent should ask selling agent for the equipment buyout price (and monthly rental amount, contract term copy and etc.)Shop-a-holic wrote: ↑ Thank you everyone.
Given it's really a seller's market, what sort of questions should we be asking and keeping in mind with regards to the aforementioned coming as rental agreements?
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