Usually the bank that owns the home is not interested in a prolonged transaction (like rent to own) ...they want to sell if for maximum the market will allow in the shortest possible time. Technically, I suppose it is possible - but I have never heard of a bank accepting a rent to own offer.
Prudential Sierra Nevada Properties
It is legal for it to become a rent to own but extremely highly unlikely.... The banks want it off their backs and I have yet to hear of one making this kind of arrangement. I would suggest focusing on privately owned homes where sellers need to move and are perhaps a little underwater. That is the time when they become more willing to do a rent to own. Good Luck!!!
HomeSmart Real Estate
I have to agree with Robert Range- Banks are typically not in the business of owning real estate. The exception is owning the real estate where the bank location-branch sits. Have you noticed... most banks are in the very best locations and are most often the most beautiful buildings around!
It is possible that a foreclosed property be rented from an investor after the bank sells. Perhaps, IF the bank has great difficulty is selling... they may entertain a rent-to-own proposal.
If you mean it is owned by a bank then no you cannot do a rent to own.
If the house was foreclosed and then an investor bought it from the bank then yes if the seller is willing to do a rent to own, go ahead. Just make sure you have your own realtor and attorney review the "rent to own" contract.
Also if a house is in Pre-foreclosure, it's unlikely you can do a rent to own.
Good question, real estate is all negotiation so obviously if you can negotiate rent to own why not. Usually the banks looks for max cash in. Offer a good deposit for that purpose and they may go along with that.Good luck