Is anyone familiar with "rent to own" when it comes to a house?

Question

I saw a house that was listed for sale but there is a rent to own option. I know it is similiar to the rent-a-centers where you can rent furnitures or other items. I know you will pay more up front. Is it a better alternative than trying to get a traditional mortgage when you have bad credit. Althougth I really don't know my credit score.

Answer 1

When a Rent To Own is done correctly, is very beneficial for both homeowner and tenant/buyers.

In my professional opinion, rent to own is the best way to purchase a house if the the prospect tenant/buyer have not so good credit, not a lot of money to put down or if they want to try first before they buy.

There are TONS of benefits to the tenants on a rent to own in addition to the ones I mentioned above plus no property taxes to pay for the life of the lease, locking the purchase price, building equity etc etc etc.

One advice I like to leave you with is this....

When ever you decide to enter into a Rent To Own transaction, PLEASE have a Professional Expert (100% in Rent To own) assist you in the arrangement.

This is not about downloading the contracts from the net or going to your local real estate office and using those contracts.

This is about having the years of experience and using real solid STRONG contracts from an experienced attorney.

All the other contracts only protects the homeowners and are not two sided.

So be very careful and let the experts handle it for you ;-)

Hope this helps,

Professional Rent To Own Expert Consultant

Answer 2

you have to be extremely careful with those deals. Many of them are scams run by the new generation house flippers who do not even own the home and the rent to owner suddenly gets a eviction notice that the home is being foreclosed on by the original lender.

There has been a course selling huckster doing the hotels in my area selling a course on obtaining real estate with no money and reselling them on rent to own for windfall profits.

Beware

Answer 3

You need to ask the sellers what they are offering.  If you decide to go for it be sure to have your lawyer look it over.