When you sell your property, "Rent to Own" you are leasing your home for usually 1 to 3 years to someone who wants to buy the home during that time, or by the end of that term.
They usually can't qualify for a conventional bank loan today, because:
But, because this unique "tenant-buyer" hates the idea of being a renter, and loves the idea of one day owning their own home, they opt to buy on a lease with the Option to buy - commonly referred to as a "Rent to Own" arrangement.
Understandably, the home owners we work with have some concerns:
Naturally, the above questions are valid questions that must be addressed, before any home owner would want to lease/ sell their property to someone using a Lease-Option.
And because we recognize that there are no guarantees in life, and that there are some inherent risks when leasing a property to someone, this post is meant to give you some "food for thought" so you can make the best decision for your unique wants and needs.
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