Before putting your hard earned money in a rent to own contract answer this question, how will a mortgage underwriter treat the contract when it comes time to pay off the seller? Answer: It is not what you expect.
If you think you can turn around and sell your position without ever taking title to the property, guess again, the person buying the home from you canâ€™t get financing because of the title issue.
Trying to circumvent the rules that are in place to protect you is probably not a good move.
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.