Lovely 3-bedroom, 2-bath Bungalow available on Lease with Option to Buy or Land Contract. Recentlly remodeled main bath. Main level has wall to wall carpeting. It has a full semi-finished basement with 2nd full bath fixtures. Enjoy a SPACIOUS MASTER BEDROOM (24' x 15') upstairs with large walk-in closet. Kitchen has eat-in area by Bay Window. A new refrigerator is furnished. Your house has Gas Forced Air Heat and Central Air Conditioning. The Gas Forced Air furnace is a new Rheem furnace installed in February 2012. Inside has been recently painted. An enclosed breezeway leads to an ATTACHED 2.5 CAR GARAGE with garage door opener. The back yard is fenced and has a patio off the breezeway. The home is close to I-94, Eastland Mall, and schools. The house sits on a LARGE DOUBLE LOT (80' x 114').
Land Contract terms.
1. Monthly payment is
$995. The first payment is due 30 days after closing. When we get you set up for the homestead exemption your monthly payment will drop to a lower amount due to a decrease in the property taxes for an owner/occupant.
2. Down payment is $4,500.
3. Your move-in amount is $4,500.
4. Selling Price is
reduced to $74,500.
5. Monthly payment is based on Buyer being responsible for the Property Taxes and Homeowners Insurance. The promissory note of $70,000 has a fixed interest rate of 8.0% amortized over 18 years. No pre-payment penalty. Buyer wiill need to get their own financing at the end of 3 years.
6. Your note payment reduction from payments alone during the 36 month period total $5,910.37. Total credit toward purchasing this house after 3 years including the down payment is $10,410.37.
Rent to Own (RTO) terms are as follows:
1. Rent to Own for only $925 per month includes property taxes and homeowners insurance.
2. Non-Refundable Purchase Option Fee of $800 is required and goes 100% toward the Purchase Price.
3. Security Deposit is $875.00.
4. Purchase Credits
earned are $150 per month for 1 year lease/option and are applied to 100% toward the purchase price. Some requirements apply to earn Purchase Credits.
5. Total Move-in amount without discount is $2,600. We will work with you, so if you love the house and do not have the total move-in amount, call us to find out how you can still move into your dream house.
6. The move-in amount will be discounted if you furnish your own stove. The discount is $225 for an Electric stove and $25 for a Gas stove.
7. The Rent to own Purchase price is $74,800 which will be reduced by Purchase Option Fee of $800 and
potential Purchase Credits earned of $1,800 (12 x $150). With reductions for purchase credits and option money paid, then your net price could be as low as $72,200.
8. The Lease/Option Tenant Buyer may have the opportunity to covert the Lease/Option to a Land Contract at the end of one year.
You may email or call me to ask questions about a Land Contract or Rent to Own. The
house is shown by appointment only.
The house is located in East Park Manor, Wayne County, Harper Woods, MI.
The Seller is offering FREE Debt Resolution and/or Credit Repair to those who need it.
Contact this seller