The houses/apartments are usually overpriced and sold to people that can otherwise "not" purchase a home and are somewhat taken advantage of. The chances of the rent to own scenario is probably not going to happen.
What will happen is you will get a whole bunch of Realtors telling you they can do it or have done it and really will be lookig to sell you something else. I am sure that there will be a bunch of people saying that I do not know what I am talking about and blah, blah, blah.. but, lets speak the truth. I have not seen one good rent-to-own situation that has worked.
Think about it.. you want to buy a place in a down market, telling the landlord that you will pay this amount -*next year*- and the market goes through the roof.. guess what happens to you and your rent-to-own.... over.
If it works out for you and you find one.. let us know!
Good luck and best,
Unwavering Commitment to Service, Unsurpassed Results
Option to Buy ...Rent to Own...can mean so many different things.
You'll probably need a good realtor to explain the 'possibilities'..and a good attorney to make sure that the 'possibilities' are in writing.
If I can offer any additional help, please feel free to contact me.
Please give me a call if you are looking for an agent, My husband and myself would be happy tp help you.......
Heritage House Sotheby's International Realty
732 859 2376 cell
NMLS # 6395
Financing Kentucky One Home at a Time
Depending on the market you are looking in, home prices could be appreciating. A well informed seller will know this and want a price that will be greater than it is today.
Your best bet is to do as Bob Haspel mentioned, and write a right of first refusal into your lease, should your landlord decide to sell the property.
So, negotiations are never ending. Each step is negotiable, as long as, someone is willing to change a predefined term or condition.