Lease to buy

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Contingencies for sale include such items as any inspections you'd like done before you buy the house. You might, for example, want to have the acreage surveyed and the dwelling appraised, require a termite and structural inspection, or request soil and water testing. s of the conditions that you'd like to have met prior to taking ownership of the property should be included, in writing, in the final contract.

Closing costs involve various expenses — in addition to the purchase price — that must be settled before you secure the title. These can include the fee for recording the sale, an attorney's charges for drawing up and approving the final contract, the costs of clearing up any contingencies (such as a survey), and an escrow fee paid to a go-between who protects the interests of all parties involved in the deal. (Since you'll probably pursue the sale under your own steam, it's unlikely that you'll have a bill from a real estate agent . . . but if you do, it must also be taken care of.) Some of the payments are typically shared by the buyer and the seller, while others are usually handled by just one of the parties. In any event, make sure that the amounts of, and responsibilities for, these costs are agreed to in writing.

There you have it . . . the lowdown on how to buy a house without cashing in your entire life's savings. Who knows, once you become familiar with the legal jargon involved (and, perhaps, build up the courage to propose a deal), you could be on your way to tilling your own soil instead of your landlord's!

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