LEASE-TO-OWN...Bad Credit OK. 1 Year Lease available.
Special: You Spackle, Paint and Clean, and Seller will knock $2k off the down payment and still credit that $2k off the purchase price!
Property Description
Beautifully remodeled Rose Hill home with newer oak hardwood floors, carpet, appliances, and interior paint. Brand New Roof as of August 2007 with 30 Year Warranty. Large, fully fenced backyard with expansive deck for entertaining. Garden patch for growing your favorite vegetables and herbs. Storage Shed for Garden Tools/Storage. Open floor plan allows for lots of light to fill this warm sunny home, with western exposure. Great location close to schools, parks, freeway access, shopping and downtown Kirkland. Perfect time to Lease-Option a 5 bedroom remodeled home on large lot...the neighborhood is still appreciating at a fast pace!
Rent: $2,495
Rent Credit: $600/month - that makes your effective rent just $1895/month!...that's an amazing rental price for a large house in this area of Kirkland.
Down Payment: $6995 - fully applies towards purchase price.
Purchase Price: $515,000
*After all concessions (down payment + rent credits) the actual purchase price will be $500,805.
**Market Value today is $490,000. Kirkland is experiencing 10-12% appreciation still (down from 15-16% in the previous 2 years). Using very conservative numbers, here's an example of what this home could be worth at the end of a one year lease:
$490,000 + 10% appreciation = $539,000.
You are buying for $500,805. That's $38,195 in your pocket.
There is room to build additional equity! ...the kitchen/bath could use updating, and the over-sized two car carport has permits to build a garage. This would add enormous value!
When it comes time to purchase, your loan is actually considered a refinance meaning your equity is considered to be your down payment. That means NO saving up for a huge down payment...100% loans are no longer available unless you have perfect credit, so here's a perfect way for you to get into the Real Estate market now. If you don't get into the Seattle market now, you may never!
This home will be available end of September 2007.
Owner currently residing in property so please call to arrange a showing!
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