Rent To Own Deserve A Second Look
A rent-to-own offer on your house could deserve a second lookFor sellers, even if it's not the first choice, a rent-to-own arrangement can yield positives: steady monthly income while moving toward the promise of a sale.For buyers, it can mean having a place to plant roots while working toward purchasing the home they're living in.An up-front option fee and extra rent that gets put in an escrow account can help assure the buyer's intents are true and that they'll have enough for a down payment or closing costs.
"In some situations, it can be good for both parties," said Elizabeth Mendenhall, president of the National Association of Realtors. "Maybe the seller has had the house on the market for a while and the buyer might not be able to buy it today, but in time could."
.Sarah O'Brien| @sarahtgobrienPublished 1:18 PM ET Mon, 22 Jan 2018
Jayson Yunis epitomizes integrity, energy, hustle, and creative service in every detail of your real estate transaction. Born and raised in Miami. This native not only knows Miami, he loves Miami and ....