For Rent in Houston>Question Details

luannsimon, Home Buyer in Houston, TX

seeking horse property rent to own in Houston Area least 4 acres in houston mt belview crosby dayton liberty new caney call 832-665-3551

Asked by luannsimon, Houston, TX Tue Apr 23, 2013

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Hello Luann. Is there any reason why you are wanting to rent instead of buy?
0 votes Thank Flag Link Wed Apr 24, 2013
Luann is there any reason why you are looking to rent instead of buying?
0 votes Thank Flag Link Wed Apr 24, 2013
Luann ...

FYI ... Realtors in TX are not permitted to participate in rent-to-own transactions ... you'd need an attorney to prepare two sets of documents, one for the lease, the other for the sale.

There are other issues as well. Contrary to common beliefs, there's a large deposit required, little or no rental charges are applied to the down payment, the interest on the sale portion is much higher (at least twice the going bank rate), and you'd still have to obtain financing in a couple of years to pay off the owner (the "balloon"). They're great deals ... but not for the tenant/buyer.

Please give this some serious thought ... I wish you well.

Regards ...

Al Geffon
(713) 213-6350
Web Reference:
0 votes Thank Flag Link Wed Apr 24, 2013
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