I want a Building for my business. And want to lease with the option to buy the building. Please advice as to?

The building sales for $70,000. I currently work from my home. I have about $34,000 available to Equipe my business with workstations %26amp; computers for a Financial Planning Business. The owner is willing to finance. But I want to work the business at least 2 or 3 years before buying the building.I want a Building for my business. And want to lease with the option to buy the building. Please advice as to?
rent as an option to buy,like see if they will rent to own.I want a Building for my business. And want to lease with the option to buy the building. Please advice as to?
You are a Financial Planner and need to ask such questions here on Yahoo?





Great Advertising for your Financial Planning skills...





Find a good realtor and explain what your intentions are then sit down with an even better lawyer that is trained to handle real estate legals and have him draw up an iron clad contract between you and the owner of that building.





What you are intending to do is called a lease with option to buy.


That means you rent that building for a set amount of years before you finally get the financing going to buy the building outright. Whether your rent payments during that time can be applied towards the price you negotiated for the purchase of the building... that depends on how desperate the owner is and how well your lawyer can draw up a legally binding agreement.
You will need to execute a lease/purchase agreement with the building owner or a rent to own agreement specifying the terms and sale price with the payments reducing the final purchase price while the lease is in effect.


You can set clauses that protect you and the owner while the lease is in effect and either of you may terminate the lease at anytime or by mutual agreement.


The owner retains title of the building during the lease and gets a fixed amount of income.


You get a place to see if your business will succeed or not.


If you decide not to purchase the building,the owner can still sell it or rent it out.
office space is really cheap, especially now. I would rent until you have the cash and feel as if the business is really growing. Please don't buy until you have several years of positive results. I am happy for you, but just wait. good luck