Does rent to own still exist and how does it work?

Asked by alita.hines, Los Angeles, CA Tue Aug 26, 2014

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Answers

5
Anna M Brocco, Agent, Williston Park, NY
Tue Aug 26, 2014
Rent to own is similar to a car lease. Be mindful that rent to own is really not a good idea, therefore consider fixing whatever is preventing you from purchasing outright. Rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright, or simply continue renting until a purchase can be made.
2 votes
Arpad Racz, Agent, San Jose, CA
Wed Sep 24, 2014
Hi,

Lease Option to Buy is another way to research it.

Kind regards,

Arpad
0 votes
, ,
Tue Sep 23, 2014
You still can do all kinds of creative financing. Most people who do it make a full time profession out of it. Most other people should not attempt it as the risks are very high. For example, if you are renting the property what happens is the bank forecloses ?
It sounds like you may be having a tough time getting financed. I specialize in financing people that are hard to finance. Feel free to contact me to discuss it, it does not cost anything to talk about it.
0 votes
Bev West, Agent, Greeley, CO
Thu Aug 28, 2014
They still exist but highly recommend not doing them. Very few end up in being a win-win situation. Attorney in our area informs us to either buy or rent but don't mix the two. Good luck.
0 votes
Jamie Perri, Renter, Overland Park, KS
Tue Aug 26, 2014
Yes there are several web sites that provide the info much like trulia.
some have a membership cost, but if your serious it's worth it.
0 votes
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