2007-08-20 07:39:07 · 4 answers · asked by nonjailbait 2 in Business & Finance ➔ Renting & Real Estate
If you go through a real estate agent (to make sure that the logistics are right) it is a safe thing. I would not suggest that you do it without a RE agent. For example the terms of a contract can state the while you are renting and an owner has an offer made, do you as the renter have the first right to counter that offer or if any offer can be made at all while you are renting. Questions arise like the purchase price of the home is it negotiated now or at the time when your rental ends, usually lease to own homes require a larger deposit, will this deposit be refundable if you are unable to purchase and it needs to be considered that the monthly rent may or may not be contributed to reducing the purchase price of the home. If you do it wrong, it could cost you.
2007-08-20 07:53:07 · answer #1 · answered by M&M 1 · 0⤊ 0⤋
2
2016-09-09 22:58:51 · answer #2 · answered by ? 3 · 0⤊ 0⤋
It's fine, if the contract is valid and equitable.
There are a lot of variables among such contracts, mostly with the question of how much of the payment is applied toward the purchase price. I've seen zero, I've seen half.
They're used fairly often.
2007-08-20 08:29:22 · answer #3 · answered by open4one 7 · 0⤊ 0⤋
Its as legit as the seller/buyer are. Everyone is different so they must be evaluated accordingly.
2007-08-20 07:48:16 · answer #4 · answered by bpl 5 · 0⤊ 0⤋