Property Q&A in McKeesport>Question Details

Marilyn Roth…, Home Buyer in McKeesport, PA

I was wondering if owners would consider rent to own?

Asked by Marilyn Rotharmel, McKeesport, PA Tue Jan 6, 2009

My family an I just love this house. We are looking for amove in ready house in White Oak. We are a family of four looking for a fresh start. We are victims of Preditory lending and are facing Foreclosure on our family home. We have filed Bankruptcy and we just need a new start. Please let me know if any rent to own homes are available under our special circumstances.

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Marilyn, In my recent experience I have found rent to own a.k.a. lease purchase opportunities to be far and between. Many sellers want or need to completely "unload" their properties in order to get themselves into a new one. The alternative is often seller financing, but that requires the seller being assured that the buyer is qualified to make the monthly payment, the seller being financially positioned to extend credit, and typically the home being paid off or close to it. Most sellers want to sell outright rather than leasing with a future date for purchase. While the thought of moving your family into a rental and having to move again at the end of the lease may be disappointing it does not mean that you will have to move again in one year. Many landlords would like the opportunity to have a great long term tenant and after some time may want to talk about selling the house to you with great concessions in return for the rent you've already been paying. I wish you the very best with your new start!
0 votes Thank Flag Link Wed Jan 7, 2009
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