Monday, June 29, 2015
Good-bye Maple Grove
Today we officially say goodbye to our old house.
Last year, we put our house on the market to sell. Our first viewer made us an offer. It was not the typical offer, so we had to think about it. It was a lease-to-purchase contract.
A lease-to-purchase was unfamiliar to me, so I had to research and see if I was comfortable. Our buyer would start off as our tenant. He would pay monthly rent and a portion of that rent would go towards the equity in the purchase price of the house. Or the portion of rent money could be used towards his closing costs.
In our agreement, the tenant could keep renting for a whole year and at anytime during that year he could decide to go through the purchase. If he did not exercise the option to purchase, he would lose the money he paid in rent. He originally said he'd purchase in November, and his back-up date was March. This was all based on when he gets his bonus from work.
November and March passed and I didn't get worried. I could have, but I knew God had a plan and He would help me figure out what to do.
I look back and realize how smoothly it all went. We had a great tenant that paid on time and kept the house in great condition. Now I don't care what he does with it! Although, I know he has plans to upgrade the kitchen and install a pool!
My mom has an acquaintance that has a lease-to-own contract on their house, and the tenant has stopped paying rent. Currently, they are having a hard time evicting the non-paying renter because of the lease-to-own contract. I feel bad and realize how scary of a risk you are taking.
June 29th is a great day!So excited to move on and only have two houses to take care of. Then we will list my mom's townhouse and get back down to one house! Hallelujah!