Rent-to-Own Deals: Smart Questions to Ask...
In a Buyer's market like we are seeing today, some sellers are willing to enter into a Rent-to-Own Deal.
Below are a few things to think about before you enter into a contract.
For Sellers:
Who will tend to the property and pay for routine maintenance?
Who pays for major repairs?
What are the costs of setting up and managing an escrow account for the portion of rent allotted to the down payment?
Will you manage the property yourself, or hire an agent?
What if the renters change their minds?
Who keeps the money in the escrow account?
If the buyers change their minds, what will be required to put the property back on the market?
For Buyers:
How much of the rent is going to the down payment?
How locked in are you if you change your mind?
What will it cost you to get out of the deal?
How long will it take to accumulate enough of a down payment that you are likely to qualify for a mortgage?
Remember, If it sounds too good to be true, there is a good chance that it is.
If I can be of any assistance in helping you buy or sell a property as a rent to own, give me a call or email. | 
