Given the current market conditions, the rent to own option is not very likely.
If you are interested in selling you home, I would be happy to sit down with you and help you with the process. Please feel free to give me a call.
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Keller Williams Realty, Cherry Hill
Most sellers just want to trade their house for money to move on to the next chapter. Renting to you simply converts them to an unwilling landlord and keeps their plans on hold.
Most rent-to-own types have horrible credit scores that are preventing them from buying outright. If that is you, just rent modest housing and concentrate of paying your bills and improving your credit score to the 750-800 range. Then you can buy what you want.
Typically, someone listing their house for sale is not in a position to rent-to-own or simply wants to sell outright to a qualified buyer.
Those who are more likely to consider rent-to-own are those sellers whose houses are not selling the traditional way (i.e., their MLS listing is not getting the offers they need and their house is just sitting on the market for a long time) or someone marketing their home for rent and doesn't want to hold it as a long-term rental may consider rent-to-own.
Lastly, some of the people marketing their homes for sale by owner, may be more open to rent-to-own than a seller who has their home listed with a Realtor.
Then, for those who will consider rent-to-own, you will need a non-refundable down payment (typically a minimum of 3.5% of the purchase price of the home or $5,000, whichever is greater), have credit that can be repaired in less than 24 months and be in a position to get a bank loan during that time frame, and good income and job history, etc.
Check out our website to learn more about rent-to-own and what to expect at http://www.BuyBaltimoreProperties.com.
Good luck with your home search in NJ.