What is the deal with rent to own homes with the option to finance with a bank after 20 years as opposed to 2?

Asked by Nikki, Nashville, TN Fri Dec 5, 2008

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Matt Irvin, Agent, Walnut Creek, CA
Sat Dec 6, 2008
This is a lease option usually a technique used by the owner to utilize more cash flow....20 years is a bit long...however the term is negotiable...if you are paying any additional rent money to be used towards the option, see if you can hold it in an joint account between you and the owner....
Web Reference:  http://www.mattirvin.com
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Dallas Texas, Agent, Dallas, TN
Fri Dec 5, 2008
Most banks are not in the business do rent to own where they finance the property. Your buyers agent should be able to assist you, however most banks need to sale the property.
Web Reference:  http://www.lynn911.com
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