We have a lot of people call us and ask us if we have any “rent to own” properties available. More commonly among Realtors, we say lease/purchase or owner finance properties depending on what the buyer is truly talking about. 
 
Rent-to-own agreements can seem appealing to potential homebuyers who cannot qualify for a traditional mortgage. However, the terms and potential pitfalls of such arrangements warrant careful consideration. Let's explore how rent-to-own agreements typically work and the pros and cons involved.
 
Rent-to-own can be a solution for those who cannot immediately qualify for a mortgage but aspire to homeownership. However, it often involves higher costs and significant risks, mainly benefiting the seller. Thoroughly understand the agreement, consult with a real estate professional, and ensure your financial situation is likely to improve within the specified term before committing.
 

1. Down Payment and Purchase Pri ...