Today is a GREAT Day!

I promise I will post pictures soon....especially after today.....

We will be signing a Lease to Purchase contract with a wonderful family here in Stow that absolutely loves our house and will be purchasing it from us within the next two years! We are oh, so thankful!

Prior to last night we weren't really sure what "Lease to Own" meant, but a lady called on the phone asking if we would consider it. They sold their condo (FSBO) and have to hand over keys on March 1st, but can't be approved for a loan in today's financial market. So, after some good conversations, things are going to work out GREAT!

Very briefly, the way Lease-to-Purchase works is that the tenants pay a % of the price of the house up front, then they make a normal rent payment and in addition to that, they pay a rent premium. Ours is for a 24 month lease, so at the end of 2 years, if they have not purchased the property from us, then they forfeit the % up front as well as the premium that they paid each month. If they do purchase the property (which is the goal and I feel more than confident that it will happen) then the % and premiums are credited back to the buyer toward the purchase price of the house. That price is agreed upon now and the Embrys are actually giving us our asking price! So, their rent payment will cover our mortgage and HOA fees, plus we aren't having to pay any realtor fees and we are making $2500 on our house! Considering the slow real estate market and the fact that we will only have lived here for a total of 8.5 months, this is fantastic! And of course all the money that they pay on our mortgage that goes towards principle is just like cash as soon as they buy the property.

In addition to the financial stress relief that this provides, it is a wonderful feeling to know that Brian is not going to have to commute to Grand Rapids for months, we can be together as a family, and finally get really settled for the last time (in a while!). The only glitch at all is not really a glitch. We will turn over the house on March 1st. That is not much time for us to find and close on a new house in Michigan. We are hopeful, but also don't want to rush into anything. If we have to pay for our stuff to be stored with the moving people for a while, then so be it. If that is all we have to worry about, then I think we are sitting pretty!

So, all of this is just wonderful. We just got back from a celebratory dinner (at Rockne's) with Matt and Ann. Not only do we not have to worry about the house anymore, but Connor also turned 5 months old today!!! We are so blessed to have such an amazing little boy. He is really starting to enjoy and explore eating solid foods. So far green beans and apples are his favorites. He is growing and maturing every day and is really starting to be a lot of FUN!

Overall, I couldn't be happier today, we have SO MUCH to be thankful for!

If you want to see pictures of the house, I made a blog to help sell it...it worked!
www.5055LakePointCourt.blogspot.com