Rentals in 60652>Question Details

Kimberly Ber…, Renter in Oak Lawn, IL

Looking for house for rent to own 3brs basement 1 or 2 bath $1500/month

Asked by Kimberly Berry, Oak Lawn, IL Wed Jan 29, 2014

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9
It is very hard to find rent to own and rather dangerous. They tend to favor the seller/landlord. Just wait until you can get a loan.
1 vote Thank Flag Link Thu Jan 30, 2014
Depending on where you want to live, options exist.

Feel free to contact me should you need any assistance.
Web Reference: http://www.BJDHOMES.com
0 votes Thank Flag Link Tue Feb 11, 2014
Kimberly, I have a 3br 1bath house with basement and garage available 5/1 for rent/rent to own. I'm happy to talk with you to see if this would benefit both of us. And, of course, we'd work with an attorney that specializes in real estate law. Please email stpw2@comcast.net.
Thanks,
Stacy
0 votes Thank Flag Link Mon Feb 3, 2014
Kimberly,

These are hard to find. Any good seller may not lock in a price today as values are going up depending on neighborhood. Make sure you work with an attorney if you do find a rent to own.
0 votes Thank Flag Link Thu Jan 30, 2014
I see both sides of this issue. Rent to owns do provide buyers with a locked in price and the ability to make live in the home while credit is corrected. They do work sometimes but only if the buyer is committed to correcting the issue and buying. There are many pitfalls if it is not done correctly, however. Most people are better off renting, fixing their issues and then buying. Rent to owns have some pitfalls. You need to ensure that the seller can fulfill their obligation and not lose the house to foreclosure or short sale before you can buy it. You need to understand that the money you provide is nonrefundable - but you need to assure that it is held properly if you do your end of the bargain.

Realize that a rent to own will cost you more than a regular purchase - but not more than rent. Only do a rent to own if you have professionals - attorney and/or Realtor working for you. And make sure you fulfill your end of the deal or you will lose your down payment money.

I do have some rent to own homes in the south suburbs, if you are interested, please feel free to contact me.
0 votes Thank Flag Link Thu Jan 30, 2014
Get a good leasing agent to help you out. Its free to use their services. You can also try craigslist.
0 votes Thank Flag Link Thu Jan 30, 2014
Can you please tell us. You are looking for rental property any particular area or city. Let me know if you need help.

Thanks

Manoj
847-791-3216
0 votes Thank Flag Link Wed Jan 29, 2014
Get an attorney please! !!! Don't sign unless
0 votes Thank Flag Link Wed Jan 29, 2014
I am not a big fan of rent to own, but there are some great leasing agents on this site that can help you with your search at no charge to you.
0 votes Thank Flag Link Wed Jan 29, 2014
I was also thinking of rent to own. May I ask why you say you are not a fan.
Flag Wed Jan 29, 2014
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