What questions should I ask when purchasing the property I am renting?

Julee Lanham: You need to ask about the purchase price. What if you agree to a purchase price and then it does not appraise out? Make sure you make it clear that when you apply for a loan the lender will require an appraisal on the property. Tell him you also want a home inspection. That will find any problems with the foundation or mold etc. You will need at least 3% as a down payment. And none of the down payment can come from the rent that you have been paying. He can however, pay for your closing costs. You need to also get preapproved through any lender to make sure you quailify for the loan....Show more

An Cardine: Has the house ever had problems, how many people have rented, owned this house before, but you should know more about the house then him, just ask him about previous problems and who has lived there before and if any part has been redone before or had problems!