How do i negotiate a rent to buy option?

Asked by Ms. Jackson, Chicago, IL Mon Mar 30, 2009

There are homes for sale but I am interested in renting to buy. How do I negotiate that with a realtor? Is it possible when a house is listed for sale?

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Kurt Clements, Agent, Schaumburg, IL
Mon Mar 30, 2009
Ms. Jackson:

I don't have a specific answer to your question, but if you haven't found your property yet our program might meet your needs. Check out the website . We purchase foreclosed homes throughout the Chicagoland area gut them, rehab them, and put them back on the market for a short term rent to own. We apply all your rents and security deposit 100% towards the downpayment on the home. All our homes come with new stainless steel appliances in the kitchen and a new washer and dryer. When you visit our website, make sure you click on the big red box that says 'how it works' - call me for more details at your convenience at 630-430-1091.

Good luck!

Kurt Clements
Wph 630.806.7016
Fax 630.723.5233
Cell 630.430.1091
0 votes
Danielle, , Chicago, IL
Sat Jan 2, 2010
Assuming you have some credit challenges and/or need extra time for a down payment, renting to own can be a great idea. There are many different ways to structure them, but the process is not difficult. I wouldn't necessarily advise locking in the price upfront because values will likely continue to decline. You also have to decide how much, if any, of the rental payments will be credited back to you in the form of a down payment. You will also need to determine the length of the option period. I can definitely assist you with this process.
Feel free to email me or call me directly at 773.551.4769.

Best of Luck!
0 votes
Scott Newman, Agent, Chicago, IL
Mon Mar 30, 2009
What is your reasoning behind wanting to rent w/ an option? If you can negotiate an extremely aggressive price and need the extra time to save a down payment then that makes sense but otherwise I don't see much upside. The market is declining and will continue to decline for the next 12 months so any "fair" price you negotiate know will likely be too much by the time you go to exercise your option.

I'd love to know more about your specific situation, so call me if you're interested in my assistance.

Scott Newman
Newman Realty
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