Why Rent-To-Own may be the best solution to sell your home in this down market!


Why Rent-To-Own may be the best solution to sell your home in this down market!

For many, the rent-to-own home may be the best option.  Its also called a lease-to-own house.  The process works similarly to a car lease.  Renters pay a certain amount each month to live in the house, and at the end of a set period, generally within three years, they have the option to buy the house.  Each month, the rent they pay is income for the seller, while a portion of it goes toward a down payment or closing costs to eventually buy the home.

Both renters and sellers need to be very clear about the contract they draw up before they agree to this arrangement. Renting-to-own has advantages and disadvantages for both parties. Sellers who have already bought a new house will have relief from paying two mortgages at once, and in a slow housing market with many homes for sale, this may be their best option.  And buyers who can’t yet afford a house may be able to get in one more quickly.