Open Thread

Thanks, BSM…that’s too restrictive (escrow, among other things) for me. My tenants casually inquired. I think I’ll just discuss with them what I expect to get for the house and that I’d give them a break. Not sure they can even afford anything close at this stage. I’ll talk to them.

DIBS, on rent to own, are you talking jewlery? Gold fronts? A house?

Anyone here know how typical Rent-To-Own details are worked out???

DIBS, Most important thing the contract should be registered.

The contract should include: The percentage of rent that will go towards the downpayment. The funds should be held in a reserve account. The agreement should have an expiry date, the amount of monetary compensation if either party defaults. The renter should have first rights of refusal if the owner needs/wants to sell before the expiry date. The owner should determine the credit worthiness of the renter before entering into the contact (of course, this might change.) The renter should have a home inspection done before entering into the agreement.

Can’t think of anything else right now.

That was a good bit of internal sales work, Benson and a very good idea. Japanese companies are often flat footed and slow to respond to markets for exactly the reasons you described. Good luck! I am sure you will do a great job!!

benson, sounds like a great opportunity, and also a big challenge.

Congratulations and best of luck in the new role.