Benefits of Rent to Own
1. You don’t need a 10-20% to get into the Property
2. You typically only need 2-3% as a option consideration (down payment), we can even spread some of this across monthly payments.
* What is Option Consideration?
* It is the upfront money you pay the seller in order to lock in the price for 1 year. Yes, that’s right you get to lock in the price for one year.
3. A certain percentage of your monthly rent/lease payment goes towards the final price of the property. You are buying the property while renting it.
4. Live in the house before you buy the house.
5. You have 12 – 24 months or longer to shop for financing and repair any credit issues.
6. You do not pay any property tax or fire insurance, the owner does,
7. Major repairs and maintenance are the responsibility of the owner.
8. Puts you in legal control of a property for a set period of time without actually owning the property.
9. You get to fix the price for 1-2 years upfront in most cases.
10. Qualification restriction are not quite as strict as in conventional financing.
11. You get the opportunity to check out the neighborhood, schools, churches, temples, synagogues, nearby shopping, etc.
