lightupthesky25 says:

I would counter with a purchase price of maybe $620K (or $600K plus however much “extra” you’re actually willing to give them), explaining that it’s their list price plus the extra you wanted to give.

You should not have to pay the property taxes or homeowners insurance as you don’t own the home yet. Your rent amount is going toward them paying the mortgage (including property taxes and insurance), until you decide to buy. There is no reason you should also have to pay the full amount of those bills. Refuse to do it.

Three months of rent up front is extreme considering the seller wants 10% as a down payment. I’d offer first and maybe last month’s rent. I’d also require that at least 10% of your rent payment go toward the principal. No sense in you paying rent on a home and not seeing at least some of that money back if/when you decide to buy.

I’m not really sure what a fair calculation for your rent would be, but it certainly shouldn’t be a mortgage calculation. If that was the case, the seller might as well just sell it to you! I’d look up what other similar homes in the area are renting for, and pay only the average plus 10-20% more.

The structures – depends what structures. If it’s something like a shed, I’d let the sellers have it.

If I were you I’d consult with a real estate agent. That person will know the area better, know what sellers are expecting, and know what a buyer/renter could realistically get. Since you aren’t purchasing, you’ll likely have to pay him/her for the time, but if it gets you what you want, it would be worth it.

lightupthesky25 says:

I would counter with a purchase price of maybe $620K (or $600K plus however much “extra” you’re actually willing to give them), explaining that it’s their list price plus the extra you wanted to give.

You should not have to pay the property taxes or homeowners insurance as you don’t own the home yet. Your rent amount is going toward them paying the mortgage (including property taxes and insurance), until you decide to buy. There is no reason you should also have to pay the full amount of those bills. Refuse to do it.

Three months of rent up front is extreme considering the seller wants 10% as a down payment. I’d offer first and maybe last month’s rent. I’d also require that at least 10% of your rent payment go toward the principal. No sense in you paying rent on a home and not seeing at least some of that money back if/when you decide to buy.

I’m not really sure what a fair calculation for your rent would be, but it certainly shouldn’t be a mortgage calculation. If that was the case, the seller might as well just sell it to you! I’d look up what other similar homes in the area are renting for, and pay only the average plus 10-20% more.

The structures – depends what structures. If it’s something like a shed, I’d let the sellers have it.

If I were you I’d consult with a real estate agent. That person will know the area better, know what sellers are expecting, and know what a buyer/renter could realistically get. Since you aren’t purchasing, you’ll likely have to pay him/her for the time, but if it gets you what you want, it would be worth it.