I have a potential renter who wants to buy my home thru rent to own
2006-09-02 07:54:44 · 9 answers · asked by karen s 1 in Business & Finance ➔ Renting & Real Estate
Consider "rent/lease with option to purchase", this generally refers to different terms than "rent to own". Safer for the owner. Work with a attorney who deals heavily in real estate, then he might have some responsibility if something "goes wrong".
2006-09-02 08:17:46 · answer #1 · answered by veritas 5 · 0⤊ 1⤋
2
2016-09-10 05:17:09 · answer #2 · answered by Geneva 3 · 0⤊ 0⤋
You should be able to incorporate the terms into a lease agreement. Be clear about how much rent is going toward the down payment and how long they have to make their move. You will also have to factor in what if they decide to just rent and you have someone who wants to buy later. Real estate laws vary state to state, you might want to get a real estate attorney to help you with a contract so you know you are within the state laws for your area.
2006-09-02 08:01:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
why wouldn't you want to use real estate agents? They only check out the person thoroughly so that you won't get taken. Lots of people say they want to rent to own but then not only ruin the house but then can't come up with the money to buy it when the time comes and you can't get them out so as to rent it to someone who could or to sell it. The real estate agent does all the dirty work for you, so why not pay them a small fee and ease your mind?
2006-09-02 08:43:59 · answer #4 · answered by sophieb 7 · 1⤊ 0⤋
This would become somewhat like a lease option based upon the agreed amount per month between the two parties that would actually go toward the property. You agree upon a price for your home, then at the end of the tme you agree on, ususally a yr. you give them the option of buying the property less the amount you have deducted each month. Don't forget to put it in writing.
2006-09-02 09:00:35 · answer #5 · answered by vic 1 · 0⤊ 0⤋
first step is to talk to a professional person, whether a real estate agent or lawyer or whatever
unless you are a professional in these matters (obviously not or you wouldn't be asking) then the cost of their services could be small compared to what you could loose if you leave a legal loophole open in your contract
2006-09-02 08:19:46 · answer #6 · answered by capollar 4 · 1⤊ 0⤋
Duuhhhhh!!!!!! If you have a potential buyer/renter see an attorney and have a contract drawn up. Why would you need a realtor?
2006-09-02 07:58:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Rent-To-Own Home : http://RentToOwnHome.uzaev.com/?guKo
2016-07-11 22:26:03 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Buyowner might help.
2006-09-02 08:00:07 · answer #9 · answered by Love Child 4 · 0⤊ 0⤋