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Rent-to-own agreements should specify when and how the home’s purchase price is determined. In some cases you and the seller will agree on a purchase price when the contract is signed – often.
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Purchasing A Fixer Upper Home When Buying a Fixer-Upper, Where Should You Draw the Line? – "Typically, you can purchase a larger home with the same purchase budget, and that home can be purchased in a more desirable neighborhood due to lower cost," she adds. In addition, Kostiw says that today’s buyers are more likely to want new or updated homes. There’s less competition if you want to buy a fixer-upper.