If you’re interested in purchasing a home in the near future, but just aren’t quite ready financially, renting-to-own may be for you! While the terms can vary greatly, rent-to-own agreements typically involve a standard lease agreement, in addition to a future purchase date to allow the buyer to purchase the home. This settlement date is generally between six months and two years from the date of agreement. To ensure fairness for the seller, the buyer may be asked to provide a nonrefundable deposit to ensure that they are serious about a future purchase.
Renting-to-own can allow you to save money, build your credit score, or establish job security while living in your dream home. Plus, sellers typically welcome home inspections prior to you moving in, so you can ensure the condition of your new home.
Only a fraction of homes on the market are available for rent-to-own, but sometimes sellers are willing to consider it if there home isn’t selling as quickly as they’d like. If you are interested in renting-to-own, give mea call at 267-838-4005. I’d love to help.
