Skip to main content

Posts

Showing posts from November, 2012
WHY Rent to Own? We have all seen the signs or newspaper advertisements. "Rent to Own!" . My first reaction is always "Why?". There may be a situation or two where such an agreement makes sense. However, beware. And remember to keep asking yourself (as Buyer or Seller) --- " Why am I doing this? " First, let's look at some Seller's pros and cons:   - Pros: You have someone interested in the house who wants to purchase it at a later date   - Cons: The person interested in the house cannot purchase right now. Red Flag!   - Cons: The person interested in the house cannot purchase right now. Red Flag! Yes, I said it twice. Well, you say. What about the Buyer? Surely there must be an advantage to "rent to own".   - Pros: You may have an opportunity to "lock in" a house until you are able to actually purchase via a mortgage or cash.   - Cons: Read the fine print in your agreement. A