Category Archives: Houses For Rent

Houses - Lease with Option to Buy Houses For Rent

4 Bedroom, 3 Baths–Expected to be Available in June or July, 2015

We have a large home in the north end of Marion on a large corner lot that will be available sometime in the Summer of 2015.  We are doing a total renovation so it is impossible to predict  when it is going to be available to either be shown or leased.  However, if you need a large home at about $700 per month, we will be glad to accept your application, approve that application and then contact you as soon as we can show the property.

 

DO NOT:

1.  Ask us for an address; this information will not be available to anyone until all the work is done on the property and it is ready to be shown; the only exception would be those individuals who could be interested in purchasing the property.  See requirements below.

2.  Apply to rent this house if you are in a hurry to get moved.  As noted above, it could be several months before the house is ready.

3.  Apply if your gross verifiable monthly income does not equal or exceed $2600 per month.

 

Basic information about this property:

1st Floor:  Living room, Family room or dining room, Large kitchen, Utility room, Full bath with tub and shower, Sun room off the living room, Master bedroom, Office or nursery adjoining the master bedroom.

2nd Floor:  3 or 4 bedrooms, Laundry room off of one of the bedrooms, Full bath with tub and shower off one of the bedrooms, 2nd floor family room/4th bedroom and Full bath with shower only off this room.

The house has gas forced air heat (New 92+ efficiency furnace installed in January, 2015) and gas hot water, new sanitary sewer from the house to the street in January, 2015, most windows have storm windows and screens, insulation is full—ceiling and side walls, large yard, off-street parking.

This home additionally will be improved with all new pad and carpeting, ceramic tile floors in kitchen, baths, and laundry room, some new closets, and totally painted interior.  A privacy fence is in place on the south and east sides of the property which adjoins the neighboring homes.

 

We are willing to sell the property outright for cash:  $59,900.   We are also willing to lease with the option to buy; you must meet the requirements noted below:

1.  Supply us a copy of your most recent tax return (2013) and W-2’s or 1099’s that provide evidence of your 2014 income.

2.  Complete a 4 page application – each proposed adult resident must do this.

3.  Supply a current credit report for each adult applicant

4.  Each adult must pass a background check

5.  Provide us a copy of a tenant’s insurance policy including liability coverage and with William X. Your named as a co-insured.

6.  Other Terms:

     MONTHLY LEASE PAYMENT: $695.   Allowance to pay sewer bills to the city of Marion, which we pay for you, is included.  This lease payment will adjust to $715 after 12 months and adjust again to $735 after 24 months

     INITIAL OPTION CONSIDERATION PAYMENT: $1000

     RENT CREDIT: $65 for the first full month of tenancy. $85/month thereafter.

    OPTION CONSIDERATION/RENT CREDIT LIMIT:  We will match up to $1800 as additional option consideration for any funds deposited by the tenant-buyer up to that amount. Rent credit and any additional option consideration cannot exceed $12000 or 20% of the purchase price whichever is higher. This   

            includes contributions from us to match any amount tenant-buyer deposits

    LEASE TERM: Through May 31, 2018

   OPTION TERM: Through May 31, 2018  

   OPTION PURCHASE PRICE:  $64,900. 

   BUYER’S CLOSING COSTS:  We will pay up to 3% of the mortgage amount towards buyer’s closing costs.