Hey there Tom!

Since I'm kinda the Lease-to-Own guy around here i'll jump in.

I wrote down some Pro's and Con's of Lease to Own deals a while ago and you can search on my numerous comments about what is needed to do a Lease-to-Own deal. Here is the link to read it:

http://www.trulia.com/voices/Home_Buying/Is_lease_to_buy_a_g…

Don't let Real Estate Agents or people who aren't familar with them to scare you off from doing one. Many of them say something like........."that they heard from their neighbor's, cousin's, friend, who used to know this guy, who was once married to this woman who said that they tried it once and it's a scam".

I'm currently banging my head against the wall TRYING TO FIND SELLERS who will do a Lease-to-Own all over the country with spotty results. I have buyers all over the place but no houses to offer them. Sometimes I wonder if there are ANY people out there you actually NEED to sell. LOL

If you do decide to go this route, I'm pretty sure you'll have quite a few buyers on your doorstep asking you what you're offering. There are ALWAYS more tenant/buyers looking for houses than there are Sellers willing to sell.

Congrats at looking for other ways to sell your house!

Best of Luck,

Darin
Lease-to-Own Professional
Real Estate Investor

Typically the tenant pays higher rent than market value, then that different is credited back to the buyer to be applied toward closing costs. There is also a time frame to which the tenant will to closing a loan. The length depends on the contract that both the buyer and seller agree to.