How do you buy a rent to own house?

+1 vote
asked Feb 18, 2018 in Real Estate - Renting by Jarodiu (250 points)
How do you buy a rent to own house?

What is the process of buying a home through a rent to own home sale?

1 Answer

0 votes
answered Feb 18, 2018 by Jodie (35,100 points)
When you purchase a rent to own home you sign a lease or rental contract that gives you the option to buy the home for the price listed on the rental agreement.

You continue to pay rent like a normal rental tenant but the difference is those payments go towards the purchase price of the home.

Then at the end of the rent to own agreement lease you have to come up with the rest of the balance by getting a traditional mortgage or other loan to buy the house.

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