how the rent to own home works? what are the advantages and dis advantages? What is the difference of buying a home and rent to own?

Asked by Babyboo, Rosemead, CA Sun May 27, 2012

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Rich Reed, Agent, Arcadia, CA
Fri Dec 11, 2015
In my opinion, most properties that are marketed as "rent to own" are trying to take advantage of unsophisticated buyers/tenants and sellers/landlords. RTO is hyped to would be real estate investors as a type of "get rich quick" scheme and to potential homeowners as a way to overcome credit problems. Rent to own transactions done by a legitimate Realtor are leases with an option to purchase and are three contracts: the lease, the option, and the purchase agreement. You should look for a Realtor familiar with leases with option to purchase transactions. If both parties are represented by Realtors then it is probably legit, otherwise I would advise extreme caution and due diligence!
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