Profile picture for user3158862

Does ant of these homes for sale, offer a rent to own option? If they do I would lke to be notified

Does any of these homes for sale offer a rent to own option? if so I would like to be notified,
  • April 12 - Bentley
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Answers (3)

Profile picture for user3158862
Thank you for the advice. It was deeply appreciated
  • April 12
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Profile picture for Outer Banks N C
Most sellers need to sell to get money from the sale to be able to buy their next house and the rent to own option is not one many sellers will want to deal with. It is a horrible idea for a renter and they are rare because they don't work out and the seller is stuck with the house when you, the renter, can't get a loan to actually buy the house. You still have to get a loan to buy the house, so just rent and buy when you really can buy, it will save you money because if you default you lose.
  • April 12
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Profile picture for wetdawgs
Sometimes one can find "rent to own" options using the keyword search.

Rent to own is an extremely risky option.  Plan on:

A significant non-refundable down payment (5 to 30% of market value)
Monthly rent is more than fair market rent, only the difference goes to purchase.
Your choices are slim to none as most sellers want their money now.
If you are not eligible to buy at the price agreed at the time agreed, you will have to move and lose all the money put in to date.

It is very risky, only a small percentage actually become owned.   In general, the current owner gets a bonus and then moves on to sell traditionally.
  • April 12
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