• Address: 403 Rhode Island Ave, Norfolk, VA 23508 (map)
• Date Posted: 09/14/09
• Bedrooms: 3
• Bathrooms: 2.5
• Size (sq ft): 1450
• Pets Allowed: Yes

INTERIOR FEATURES: 3 bedrooms and 2 ½ baths (including a master bed with bath and walk in closet)
-Beautiful hardwood floors downstairs, carpet upstairs, tile in entrances and baths
-Great room with fireplace and water view, 2 zone central heat/air, plus ceiling fans throughout
-Kitchen with built in microwave, side by side refrigerator, dishwasher, disposal

EXTERIOR FEATURES: relaxing deck with a retractable awning overlooking Haven Creek
-Vinyl siding for easy maintenance, fenced in yard,
-driveway with parking for 2 cars, plus an 8’x10’ shed
-Approximately 1450 square feet, Built in 1988

AREA FEATURES: Located in historic Colonial Place, one of Norfolk’s best places to live!
-Neighborhood has waterfront walks and views, a boat ramp, park, and a dog park!
-Central location--great for quick drives to Navy bases, hospitals, downtown, and ODU

You need a home and we want you in this home! Here’s how we can work with you to make you a home owner!

Lease this wonderful home for up to 2 years with the option to buy it at any time during the lease.

This gives you time to save up for a down payment, repair credit, and find a bank that will work with you. Negotiate your price before you start the lease so you can take advantage of today’s incredibly low home prices. Lock in your price with a non-refundable Option Fee of 3-5% of your purchase price, and when you buy the house, this fee goes entirely toward your down payment. (This house is currently being offered for Sale at $259,000 but is assessed at $312,000 – you can’t find a better deal!)

The beauty of this option is:
1) You get into the house you want to buy now, 2) You get to test out your new home before your buy it, 3) You have a real motivation to improve your finances and qualify for a loan to make the house completely yours, 4) Your Option Fee and the ability to pay the monthly rent will demonstrate to banks that you can handle a mortgage, 5) The Option Fee will be added to what you save on your own over the lease for your down payment

How can you get in on this terrific opportunity?
1) Have a steady job for the past 12 months or more
2) Have a minimum credit score of 620 (so you have a realistic chance of getting a loan)
3) Have a good rental history
4) Be able to pay rent of $1700 per month
5) Be able to pay the Option Fee of 3-5% of the purchase price you negotiate

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