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Option to Purchase Addendum to Residential Lease Lease or Rent to Own New Mexico Form

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Option to Purchase Addendum to Residential Lease Lease or Rent to Own New Mexico Form

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[Music] Bob is in Camden New Jersey to start off this hour hey Bob how are you uh doing pretty well Dave how about yourself better than I deserve how can I help well I wanted to get your take on the idea of purchasing a home with a land leas agreement as being sort of a middle of the road solution between renting and then tradition home ownership so what is the structure of the deal so basically I would be able to purchase a home which would be and a decent quality smaller home like two bedrooms one bathroom for about $100,000 which I could immediately pay most if not the entire price and essentially have no mortgage however I would have to pay approximately $800 a month for the on the land lease agreement so it it would effectively be a giant um HOA agreement and I I see that as a middle of the road solution between continuing to rent and paying 1,500 to 2,000 a month in rent which I don't really want to do or at the same time buying a traditional home in South Jersey which un

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