Buying vs. Rent to Own Homes

Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.

Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.

Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.

The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.

Rent to Own Realtors

Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.

Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.

Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.

About Our Listings

The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.

Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.

You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.

It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.