can i rent this 55 kendrick ave worcester ma home - rent to own?

Asked by Janey Gordon, Orlando, FL Fri Feb 1, 2013

jane gordon

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jimgatos’ answer
jimgatos, Agent, Westborough, MA
Wed Feb 6, 2013
Most of the time, when a tenant enters a "rent to own", either they have bd credit and hope the seller will work a deal with them or the seller has negative equity and is hoping to find a desperate person or thinks his house is made of gold. You really are better off getting a loan and buying; the rates are ridiculously low today and the prices too.. You'll be surprised how little you may need to put down; sometimes it's comparable to "1st, last and security"!
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Nicole Gorg…, Renter, Worcester, MA
Sun Jun 9, 2013
I currently am looking for a home to rent for myself and my family (2 adults and an 8 year old daughter) we are good people and have good jobs and awesome references but because of my school loans, my credit is not good, but I am in a credit rehabilitation program and after 9 payment it will reflect my credit score. I also have the agreement to show as proof. My fiance (daughters dad) works nights, so we have a yellow lab mix shepherd dog who is super friendly, we also have a reference from our vet. we have first and last, we have family in the police force, we are a good, clean, quiet family, but because of my school loan we cannot get a good place, only white trash, crummy houses I don't want to raise our daughter in, along with the awful neighborhood. My fiance has worked construction landscape most of his life so he takes pride in working the yard etc..if your looking for gd people, please give us a shot. my email is or my cell 508-579-0188
thank you
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Debra (Debbi…, Agent, Livingston, NJ
Wed Feb 6, 2013
You won't have a lot of luck finding "rent with an option" to buy homes.
This home, accoridng to the listing, is for sale, so it is doubtful the seller would rent it out.

Most sellers want to sell now, not at a time in the future.
Often the only sellers who would entertain that kind of arrangement are those who can't sell now - maybe they don't have enough equity to sell now, or they have unrealistic expectations as to the price.

This kind of arrangement does not favor the buyer.

I think a lot of consumers (and maybe some agents) think that you simply pay rent, and if you buy the house at the end of the lease, all the rent is applied to the purchase price....or, you can just walk away and that's that.

That's not how a true "rent with an option to own" works!

You will be paying for that "option" to may walk away at the end of the lease and not buy the home, becasue you choose not to, or you don't qualify for a loan, or for whatever reason.............but ....and it's a big BUT - you will lose any upfront money if you don't exercise that "option"..

That's why most agents will recommend that you rent for the time being while you get your finances in order......then buy when you can do so in the normal way.

Best wishes..........
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jimgatos, Agent, Westborough, MA
Wed Feb 6, 2013
No... If you'd like, I can have a mortgage lender call you and see ahat they can do to help you qualify for a loan, but it is not available for rent of rent to own.
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