Oh if it were that easy. A better name for that is a Lease w/ Option to Buy.
Keep in mind people who do offer that can not sell the home for some reason.
a. The home is upside down
b. There are illegal improvements
Usually want a big deposit for that options
In the mean while they further encumber the house and not be able to perform.
Have the home go into foreclosure
So to protect yourself, you need to:
1. Find someone who owns the property outright or would be willing to have an escrow or third party make the mortgage payments.
2. Have a clause that they will not further encumber the house.
Or better yet give me a call:
I can do a mortgage with 1/2% down. So on a $600,000 house that is only $3000. The payments are usually cheaper than rent.
So instead of getting an over priced home with a lease option, get qualified with me and get the same home with less money down and a lower payment.