12 W 7th Ave, Runnemede, NJ 08078 Home for sale

Hi Everyone,   It’s Joe Montenigro from REMAX Home Team with a short video about 12 W 7th Ave, Runnemede, NJ 08078 and a few tips for first time home buyers who think “Waiting for the Bottom” of the real estate market is a good idea….. NOT !

ATTENTION:  As of 4-18-11, this home is available for RENT.   see below for details. UPDATE….. 5-10-11…..Sorry tenants, we found a buyer who loves this house and is ready to buy now…. the house is now off the market.

RENT or RENT TO OWN in Convenient Runnemede, 3-4BR, 2 Full Bath, living room, eat in Kitchen, unfinished basement. Very convenient to RT 295 and NJ Turnpike exit 3.  Less than 10 minutes to Deptford Mall, walk to super WaWa and other stores on the Black Horse Pike.    This home has brand new carpeting and brand new vinyl floor, the kitchen cabinets are brand new with granite counters and upgraded appliances.  Brand new six panel interior doors and ceramic tile in both remodeled bathrooms.  It’s in move in condition and I’l bet it’s nicer than 99% of rentals out there today.

The rent is $1450 per month with up to $300/month credit toward the purchase.  The security deposit is $2,175.00.   I would also consider a Lease Purchase or a 3 year lease….this is important if you want to keep your kids in the same schools or don’t feel like moving every other year!  We will require a credit check, however, we understand reasonable credit explanations.  There is no refrigerator and no washer/dryer but hookups are in the basement.  There is a gas range, gas heat, central air, gas hot water heater, public water and public sewer, and newer vinyl windows.   You’ll need to mow the grass, shovel the snow and do all maintenance and repairs on the house…..There is no maintenace man on call !  YOU are are the maintenance man 🙂       You’ll pay for gas, electric, water, and sewer for Runnemede and sewer for Camden county.       

Lease Option.  Many people ask how much of the rent can be applied to the purchase.   This is determined by how much YOUR mortgage company will allow…..some only allow 3% of the purchase price but some will allow up to 6% of the purchase price.  If you got a $300 per month rent credit for 24 months, you could have $7,200 for your closing costs on the purchase of the house, subject to the limits set by your mortgage company.   Rent credits are non-refundable nor transferable to another property.

Caution…..
#1 Some landlords will make the first year rent cheap, just to get you in, then raise the rent later possibly forcing you to move again.   I don’t do that.
#2.  Some landlords want to sell the home, expecting you to show it to prospective buyers and then, move out if they sell it!  I don’t do that either.
#3, Some landlords are inexperienced and a potential NIGHTMARE for you !!   If they’re a FIRST time landlord who simply can’t sell thier home, I would RUN, don’t walk, Run away from that rental.   

NONE of these apply to me.   I’ve been a landlord for over 20 years and I’m looking for a stable, long term tenant or lease purchase.

If you have any questions or would like to schedule a showing, please contact me at REMAX Home Team, office: 856-374-2800 x106, or email any questions that you have.  You can download my rental application here [download id=”8192″].

Thanks for Reading !
Joe Montenigro
REMAX Home Team

PS: You can see more pictures of the bedrooms on this Virtual tour…..