NMLS # 6395
Financing Kentucky One Home at a Time
Keller Williams Realty
Rent to owns are possible, but not with distressed properties. Banks need to get them off their books and sold. If they would not lend the money for mortgage, they are not going to do on a rent to own basis.
Rent to owns from individual sellers require seller financing, which many people can not do. They are possible, but rare and you will not be able to negotiate price. Some people like them because you can lock in today's sales price and live there. But you will pay market rent and you can get some of that - a small portion - towards down payment or closing costs. But most sellers want a down payment up front.
Rent to own takes the right buyer and the right seller. Before you do that, I encourage people to look at the reason for not buying. Sometimes that can be corrected easily, sometimes not. Buying is power, it leaves you in the driver's seat. Renting is not. Feel free to call me if you want to know more. I would be happy to give you the pros and cons of both.
RE Marketing Consultants, Inc.