Profile picture for Robinb1

where is the link for rent with option to buy ?

  • December 06 2013 - Fort Myers
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Answers (4)

Daniel Kim gave a good answer...

Also,
 
1.  sellers that lease option, do so usually because they cannot sell the property.( why not?)
2.  buyers don't realize that typically you rent property with first, last and security...and also give "option" money that you will forfeit (lose) if you do not buy the property.

Eve
  • December 08 2013
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Hi Robin,

I just wanted to add my opinion about rent to own homes. Rent to own usually favors the owner. First of all, there are few homes even listed as rent to owns, so your selection is limited. Also you will be expected to pay over and above the usual rent. Remember all that money will be forfeited if you do not buy the home for any reason (if you can't buy at the end of the lease term because let's say you can't qualify for a mortgage, etc. you lose all of that money!)  I would say you should rent while you're working on raising your credit score/saving up for a down payment and then buy when you are ready...

Either way good luck and Happy Holidays!
  • December 07 2013
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Profile picture for wetdawgs
"rent to own" or "rent/lease with option to buy" are extremely rare options that are more "as seen on TV" than reality.   Zillow does not have a special category for searching for these.   Sometimes agents will know of one or two but they are more likely to be found when it is a buyer's market and sellers are desperate to unload.

These are extremely risky for the potential buyer, so be aware you'll have far more selection and less risk by taking the time to identify why you can't buy today and the appropriate actions to be ready to buy in the future.

  • December 06 2013
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There is no link to those homes on Zillow. They are rare.
  • December 06 2013
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