Lease-to-own deals, has a potential buyer renting a property for a specified time period that at the end of which they have the option to buy the said property at a mutually agreed price. The renter gets the house they want, which would be the one you want to dispose of, rent it for something like 18 months (which is standard in most cases) and then may or may not opt to purchase the property you have agreed on during the time of the agreement being signed. This option can be added by attorneys to your contract. The homeowner can enforce a sort of penalty for the renter should they opt not to buy the property at the end of the contract date which is a deposit if they do agree to purchase and a penalty if they opt not to buy.

Image from : communityempower.com

This entry was posted on Tuesday, September 1st, 2009 at 1:26 pm and is filed under News, Renting. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.