Profile picture for nanakat1963

Do I need a realator to find a rent to own home?

  • October 23 2013 - Richmond
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (8)

You do not "need" a realtor to rent to own a home however by not having a realtor or at least an real estate attorney you would putting yourself at risk to be taken advantage of. There is a lot of language that is very confusing unless you are very familiar with Real Estate and you could get "stuck" into a contract that will be very costly to you in the long run.

I must agree with a few others when suggesting to attempt to save a little more money for a downpayment and purchase a home. A good Realtor typically would be happy to help you understand how to accomplish this if at all possible.
  • November 22 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for John Reeves1
Renting to own, otherwise known as a lease-option, provides a way for those not in a position to make an immediate purchase to settle on something that is right for them — and at the right time.

With the aid of professionals, an eye for opportunity, and a good sense of market timing, lease-options can be a smart solution to throwing away money. First-time home buyers who play their cards right can eliminate obstacles conventional loans may present, and go on to realize their dream of homeownership. 
  • October 28 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

This type of transaction does not require a Realtor, however, it would be in your best interest to definitely use an attorney whose specialty is in real estate to review any documents.  This type of transaction is a complex transaction and is not always in the "buyer's" best interest.  I agree with the previous post of Brad Griffin, that you would be better off in the long run just saving more money up for your down payment and buying when you are ready.

  • October 24 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You do not need a Realtor for this transaction.  However, I would strongly recommend that you use both a Realtor and an attorney.

The Realtor (who generally costs the Buyer nothing... they are typically paid by the Seller) can help you with the value of the property and the structure of the deal.  The attorney will make certain the deal is appropriately structured and papered.

This type of deal is sometimes difficult to structure... I have seen good deals for the Buyer and bad deals...  Use professionals to help you.

Good luck.
  • October 24 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Bkgdc
Why do you want to "rent to own?"

Rent to own usually costs the renter a lot of money.  You usually have to pay a premium on the rent and if you decide not to buy you may not get your extra payments back.

If you are going to rent with the intent to buy later, just save money for a down payment and keep your credit perfect or clean it up.  When you are ready to buy, start looking.  When you are ready to buy, ask your landlord if he wants to sell the house to you.  If not, find another one.

My broker will not list any client's home that wants to do a rent to own scenario.  


  • October 24 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Definitely worth paying a lawyer to take a look. They can be set up many ways and can be risky from your end.
  • October 23 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You do not need one, but you should definitely have someone in the know review any documents prior to your ratifying them.
  • October 23 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
Most likely.   They are very rare, and very risky towards your money.  

Plan on a 10 to 30% non-refundable down payment, and only a tiny bit going towards purchase every month.    If you can't get funding when you agree, then you lose all payments.
  • October 23 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.