I own a house, I am in a rent to own situation because I want to leave.

tracy90
Contributions:1

The house I live in is not where I want to be anymore and my boyfriend can stay. I would like to find a rent to own until my situation allows me to sell my house. The houses I saw on Zillow was For sale by owner, I was going to make him that offer (rent to own), now it is with Jack Gaughen..................does Jack Gaughen offer that? I want Susquehanna Township for me and my 7 year old, like Green Street or N. 3rd Street. Maybe I could use my present house as collateral until I sell it?

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November 30 2011 - Harrisburg

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Answers (2)

Tiffany Bond, "TiffanyBond"
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I would not recommend getting involved in a rent to own deal, and if you must, do so with that aid of an attorney. SO MUCH can go wrong in this situation.

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November 30 2011

Ashley York, "ashleyyork"
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You need to find a buyer's agent to represent you, first off, and negotiating rent-to-own situations can be tricky and not all sellers will be open to it. Sellers know that majority of the time, in a rent-to-own situation, the renter does NOT end up buying the property. You really need the help of an attorney to write up the lease form and possible contract, too. You can negotiate a portion of the monthly rent going towards a down payment for the property, too. Ask around for referrals of local buyer's agents who can help you with a tricky rent-to-own scenario.