In an ordinary home-selling transaction, the person who wants to buy the house (and does not have all the money for it) goes to a lender (for example, a bank). They then make a down payment and continue to pay monthly mortgage payments on a regular basis until the borrowed amount is fully paid.
• They like the fact that they have a bigger group of potential buyers to sell the house to (even those who maybe do not qualify for traditional bank financing)
• They like that they receive monthly cash flow from financing payments
• They like that they still own the house and are protected, should the seller stop paying
• They like that there is no property management
First, know all the names and terms: Rent to own, lease/option, and a lease/purchase agreement are often used interchangeably, depending on who you ask.
Not all properties are advertised this way, but technically, any property can be sold through a rent-to-own agreement.
We help people like you find properties and get through the process with minimal stress or expense.
Any property that is for sale or rent is a potential candidate for a lease agreement with an option to purchase.
The numbers can be calculated in lots of ways – the trick is working with the calculator until you find the agreement that works for the seller or buyer on the same property.