Home Buying in Las Vegas>Question Details

Hulagrams, Home Buyer in Pearl City, HI

are rent to own homes on the up and up or are they a rip off?

Asked by Hulagrams, Pearl City, HI Wed Feb 16, 2011

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There could be many pitfalls in a rent to own situation, and one could stand to lose a bit of money--therefore inform yourself well beforehand--consider consulting with an attorney who specializes in real estate, research such a scenario online as well, etc., so that an informed decision can be made. If you haven't yet visited with any qualified loan officer(s), consider doing so--after reviewing your overall financials, credit, debt, etc., he/she can make a determination as to qualification--if you don't yet qualify, your loan officer may offer great suggestions as to what needs to be done in order to qualify in the very near future--important to know before entering into a rent to own scenario...
0 votes Thank Flag Link Wed Feb 16, 2011
Impossible to say across the board that rent-to-own is a rip off. It may be appropriate for some. I suggest that you make sure everything is in writing and reviewed by as expert – perhaps an attorney – before you sign and pay money. Please understand what you may be getting yourself into.
0 votes Thank Flag Link Wed Feb 16, 2011
can you give an example ?
0 votes Thank Flag Link Wed Feb 16, 2011
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