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Updated over 12 years ago on . Most recent reply

Marc L.'s profile image
Marc L.'s profile image
Marc L.
  • from Winona, Mississippi
  • Member since Aug 31, 2012
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Marc L.'s profile image
Marc L.'s profile image
Marc L.
  • from Winona, Mississippi
  • Member since Aug 31, 2012
Connect
Marc L.
  • Winona, MS
0
Votes |
5
Posts
General Landlording & Rental Properties

How does this scenario work?

Marc L.
  • Winona, MS
Posted

Craigslist ad:
For Lease Purchase - $2,000 down/$600 per month OR $3,000 down/$500 per month for 15 years and the house is yours!! I pay the insurance and taxes and you take care of the maintenance.

Is this legitimate or is it a souped up way to get a non-refundable deposit? I'm assuming the tenant/buyer never has the option to get a traditional loan to buyout the rest of the lease.

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