Advice Topics
- Buying (179)
- Selling (195)
- Renting (40)
- Market News & Trends (12)
- Finance & Legal Info (87)
- Tips & Advice (91)
- Working With an Agent (54)
- Marketing (4)
- Investing (15)
- Affordable Housing (15)
- Green Housing (2)
- Schools (1)
- Remodeling (29)
- International Real Estate (8)
- Terms & Definitions (24)
- Home Loans (11)
Top Contributors (View All)
Find a Top Real Estate Agent Near You
What is needed to rent to own?
Asked By Paul I. | Irwin, PA | 893 views | Renting | 3 years ago
Answer(2)
Douglas Ledewitz
Pulse Realty LLC
The most important thing needed to "rent to own" is an owner/seller who is willing. In most real estate markets, and especially this one, sellers are only wanting to sell, cashout, and move on. It is very uncommon for a seller to be willing to rent a property for 1-3 years with the "hopes" of a tenant possible buying it. If the owner is looking to sell, they are typically wanting to do it in the near term and rent to own takes too long, has too many variables, and usually does not work out. There are many websites that show "rent to own" properties but most of them are misleading and are just listing of houses for sale and advise you to contact the agent or owner and inquire about rent to own. Your best bet is to build credit and save for a down payment and then make a traditional purchase with a qualified Realtor.
- 3 years ago
Helpful (1)
Unhelpful (0)
Bob Argento
Berkshire Hathaway HomeServices Homesale Realty
Typically in a rent to own situation, the owner is looking for a large deposit as security, that you will purchase the property at the end of the lease.
- 3 years ago
- Helpful (0)
- Unhelpful (1)
Are you ready to find a top agent near you?
Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.
Related Questions
-
First time buyer or rent to own?
I am homeless due to rental assistance expiring I need a home now
- Asked by Gina T.
- Lindale, TX
- 728 views
- Renting
- 3 years ago
-
Do I need to talk with a real estate agent or to an investment property person?
I want to sell a house that currently has good tenants. I want to sell it but with the stipulation that the tenants will remain until Dec 2023. Do I need to talk with a real estate agent or to an investment property person?
- Asked by Adele A.
- Columbia, SC
- 712 views
- Renting
- 3 years ago