Zillow Advice: Buying Process - How do I go about finding a lease to purchase home in the Edmond, OK/North OKC area? http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ Zillow Advice | Zillow Real Estate Your local agent will be ... http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ Your local agent will be able to help you with this. &nbsp;Our MLS lists homes with lease purchase options.&nbsp; Sat, 14 Dec 2013 23:32:00 GMT http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ 2013-12-14T23:32:00Z Rent to own programs are ... http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ Rent to own programs are a little rare these days.&nbsp; It may be a better idea to work on improving your credit and/or finding a lender with down payment assistance programs.&nbsp; I would like to help. Please contact me through my profile. Fri, 23 Aug 2013 15:36:00 GMT http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ 2013-08-23T15:36:00Z Lease to own/rent to own ... http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ Lease to own/rent to own are really hard to find but occasionally you might find one by using the words in a key word search.<br/><br/>If you are thinking about rent to own, think very carefully about the risks.<br/><br/><!--[if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:RelyOnVML/> <o:AllowPNG/> </o:OfficeDocumentSettings> </xml><![endif]-->While the theoretical concept of rent with the option to buy may seem attractive, some of the realities are considerably less so.<br/><br/> Owners who will consider rent to own are very rare, so it will cut down your options for properties considerably.&nbsp;&nbsp; I consider it much smarter to spend a year or two working on improving your credit and (if necessary) saving up a good down payment.&nbsp;&nbsp; Yeah, it is tough to move but it even tougher to lose a lot of money attempting to buy.<br/><br/> Some features of rent to own:<br/><br/>1.&nbsp; Down payment required - often substantial (say 10%) and is non-refundable if the potential buyer doesn't purchase.<br/><br/>2.&nbsp; Monthly rental is above fair market rent, with the only amount going to purchase is the amount above the fair market rent.&nbsp; This is also not refundable.<br/><br/>3.&nbsp; If not qualified for financing at the agreed upon&nbsp; time and price, then you lose everything.&nbsp;<br/><br/> 4.&nbsp; The price is agreed upon at the beginning of the contract, and who knows where house prices are going.<br/><br/> 5.&nbsp; You still depend on the owner to pay their mortgage.&nbsp;&nbsp; If they fail, you lose.<br/><br/>If you do get involved in this, please involve an attorney in the contract.<br/><br/> <!--[if gte mso 9]><xml> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="&#45;-"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-style-parent:""; line-height:115%; font-size:11.0pt; font-family:"Calibri","sans-serif";} </style> <![endif]--> Mon, 17 Jun 2013 20:39:00 GMT http://www.zillow.com/advice-thread/How-do-I-go-about-finding-a-lease-to-purchase-home-in-the-Edmond-OK-North-OKC-area/497601/ 2013-06-17T20:39:00Z