Home Buying: Rent to own. How do I even start the process? I can – t fina a thing online without some kind of scam thing popping up. My credit is not in the – Trulia Voices #eurocars

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rent to own. How do I even start the process? I can t fina a thing online without some kind of scam thing popping up. My credit is not in the

Asked by Leanne Thompson. Cape Coral, FL Wed Mar 23, 2011

Answers

BEST ANSWER

Mike Mita. Agent, Narrragansett, RI

Leanne –

Rent to own used to be a very popular phenomenon. Today – not so much. Purchase money is much easier to come by then it was years ago (though much tougher than just a few years ago), and few homeowners have the equity or cash flow necessary for such an arrangement. That said, the market is now in a position where such an arrangement is becoming a potential win win for buyers who are repairing their credit, and sellers who haven t been able to sell. I would highly recommend speaking with an experienced agent from your local market – contact me if you do not have one, I do have a partner down there – who can help you find sellers who maybe haven t considered rent to own simply because it s so uncommon they ve not thought of it. This will save you the pain of wading through the scammers and bottom feeders and ending up in a dead end. Rent to own will typically include the following:





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