Zillow Advice: Zillow Questions - i am looking for rent to own http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ Zillow Advice | Zillow Real Estate You may be able to find some ... http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ You may be able to find some by using the keywords section in the search filter.&nbsp;&nbsp; <br/><br/>Zillow writes about many things in real estate in their E-mails, some are common and some are rare.&nbsp;&nbsp; (I do not represent Zillow).&nbsp; Sat, 29 Jun 2013 21:57:00 GMT http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ 2013-06-29T21:57:00Z it was from your Zillow web ... http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ it was from your Zillow web site that I first heard of a rent to own where part of the rent is set aside for a down payment.&nbsp; that link was sent to me from your Zillow web site.&nbsp; now you must have something listed in Niagara falls ny.. Sat, 29 Jun 2013 21:52:00 GMT http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ 2013-06-29T21:52:00Z Rent to own is a very very ... http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ Rent to own is a very very rare category and a great way to lose a lot of money.<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% or 20% or more) 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. <!--[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]-->&nbsp;&nbsp; <br/> Fri, 28 Jun 2013 19:17:00 GMT http://www.zillow.com/advice-thread/i-am-looking-for-rent-to-own/499489/ 2013-06-28T19:17:00Z