All Forum Posts by: Mary E Copas

Rent with option to buy is the way to go.  If the renter/tenant backs out, or never funds the option, it is simple to move on.  Tenants may say they desire an option to buy or even a "rent to own" but frequently won;t perform on their end or want to misunderstand their rent payment is somehow a downpayment for the property or should be credited in this way.  Since this is a property you would like to move off the books and she is a good tenant, pursue it.  Maybe you can negotiate on a price.  Maybe you add a sum to her rent and the extra sum is used to fund her downpayment when the property transfers.  But if she does not follow through, you would have to refund this to her like a security deposit (depends on how nice a person you are.)  However this does save you rehabbing the property in order to sell it.

Excellent question.  From what I've read so far, in some states you can still get information about property liens online from the municipality.  However in others, because of "privacy" issues the muni/county  has removed that information but sells it to companies that will give you access for a fee.  If you find out more, I'd love to hear about it.  The list of low water properties is a fascinating idea.