I live in niagara county ny. How do you go about finding a rent to own home? do i ask my real estate lady?
2007-07-16 08:22:49 · 7 answers · asked by Ash1227 2 in Business & Finance ➔ Renting & Real Estate
Rent to own is risky for buyers.
You can look at forming a company and doing a credit tenant lease or a lease back.
Generally, they're not a good idea for the average bear.
2007-07-16 09:18:48 · answer #1 · answered by ladyellei 6 · 0⤊ 0⤋
2
2016-09-10 00:16:14 · answer #2 · answered by Nanette 3 · 0⤊ 0⤋
For many people, a home is their largest investment. This is why it is important to monitor you % of gain/loss when deciding what financial options to pursue.
Compare what the rate of return would be on your "rent to own" vs taking out a loan now vs renting & saving up for a while & paying as much down as possible.
When all is said & down & when you do the math, I think you will find that it is the best deal to rent until you can afford to buy! Part of being good in real estate is knowing when to buy & when to rent. It is OK to rent for a while with no prospect of ownership as long as you are making progress & controlling your financial ratios!
If you think you would like to purchase the home in the future, at least get the "right of first refusal" in writing from the owner. This means that before they sell it to the public, they have to come to you first & ask if you want to buy it.
If you only use "rent to own" you wind up paying a LOT more than the actual value of the home.
Good luck!
2007-07-16 08:35:39 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You won't find many real estate agents, if any, who will work with rent-to-own scenarios. Too much work involved, and sellers are not willing to pay the commission until the 'renter' actually purchases the property, which happens far less often than you would like to think.
You can look around the internet, watch newspaper ads, and look for simple yard signs.
2007-07-16 08:30:00 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
each and every thing you stated above is challenge to negotiation between you and shopper. Your settlement can specify periodic fee will boost. you may specify in spite of time-physique you like. you may negotiate who will pay the valuables taxes. frequently, agreements like what you're offering are available in 2 varieties: One is an option to purchase. Occupant is given an option to purchase the valuables interior a undeniable time-physique for a undeniable cost. Occupant has the alternative, yet not the criminal duty, to purchase in the time-physique, or enable the alternative lapse and vacate the valuables. There are additionally agreements many times noted as "land contracts," the place the occupant will pay a undeniable volume each and each month for a undeniable era. inspite of each and every thing money are made, landowner warning signs call to the occupant. All of this could be stated heavily alongside with your criminal professional.
2016-09-30 03:20:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you will wind up paying much more for the house than what it is worth. You might as well save up a downpayment and get into soemthing you can afford. It is usually cheaper to buy than rent.
2007-07-16 08:25:16 · answer #6 · answered by Hoptoad City 4 · 0⤊ 1⤋
look in the paper rent to own are usually for sell by owners people
2007-07-16 08:25:41 · answer #7 · answered by goz1111 7 · 0⤊ 0⤋
you can do that or search for your self online there are many websites that can give you that information...sorry dont have in hand. good luck i actually want to do the same...if i find something ill send it to you.
2007-07-16 08:28:43 · answer #8 · answered by 1chunx4u 4 · 0⤊ 0⤋
internet
2007-07-16 08:25:30 · answer #9 · answered by Anonymous · 0⤊ 0⤋