Why Rent To Own Home Buyers Usually Get Ripped Off

Don’t become the victim of the next scam! Learn how to rent to own the RIGHT way to save you money, frustration, and to help you become a homeowner!

Rent to own home sales are usually done between two private parties, often without legal or professional assistance on the part of the buyer. For anyone who doesn’t have extensive knowledge in real estate deals, renting to own can put you at the mercy of a less-than-honest homeowner. One such Easton, MA landlord recently plead “not guilty” to accusations that he swindled over $100,000 from potential home buyers in a rent to own scam.

Forty-two year old Joshua Leventhal was arrested on claims that he billed more than $100,000 from individuals and families looking for a rent to own home from 2010-2011. Potential home buyers would find a home on the market that they wanted to live in and inform Leventhal, who would then agree to purchase the property and sell it to the potential... to read the full article Click Here.

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How Rent To Own Works – A Detailed Explanation From RentUntilYouOwn

When buying a home using the rent to own method, you are renting as you normally would with a traditional home.

This is the same as any other house you have rented in the past. The main difference is, you also have the option to purchase the house within a certain time-frame.

Basically you find a home that you want to buy, but instead of buying it right away you simply rent the house.

While you are renting you will have time to save money, improve your credit, decide if the house is actually right for you, or do anything else that kept you from buying to begin with.

If you are looking to rent to own because you are currently unable to qualify for a mortgage, it's important to determine... to continue reading this article and to view the detailed video click here:

How Rent To Own Works - A Detailed Explanation


To view rent to own homes in your area for free, visit us at RentUntilYouOwn.com now!

Difference Between Rent To Own Homes and Owner Financing

It is very important to know the difference between owner financing and rent to own.

In a rent to own purchase, which can also be called a lease option, lease purchase, lease to own, rent to buy, or the like, you as the buyer, or tenant, have the option to purchase the home at any time during the rental period.

This means you have the legal right to purchase the home for a fixed period of time, but you’re not obligated to purchase if you decide not to, or if you’re unable to qualify for a mortgage.

Now let's take a look at Owner Financing.

This can also be called a land contract, seller financing, contract for deed or the like.

With owner financing you will want to...click here to continue reading: The Difference Between Rent To Own Homes and Owner Financing.

To view free listings of rent to own homes and owner financed houses near you visit us at RentUntilYouOwn now!

How To Choose The Best Real Estate Agent You Can

If this is your first time purchasing a home, you may be unaware of some the secret pitfalls that first time home buyers fall prey to. If you want to make the transition to a lease to own property, having a good real estate agent will help you to get the best deal for your money.

This article will give you several tips and tricks to choosing the best real estate agent for your next home purchase.

Allow me to run you through a scenario:

You and your significant other decide to move towards the purchase of your first home. You have selected your favorite neighborhood, you know how much you can afford and you have even already looked through many free rent to own listings to find housing with alternative financing options available.

Now that you are all set, you want to make the purchase. But how do you do it? Who do you talk to? What about all the paperwork? Are you going to be the one to negotiate the closing costs? What are your responsibilities when it comes to costs associated with the home?

To read the full story click here now.

To view free listings of rent to own homes near you visit us at RentUntilYouOwn.com now.

The Pros And Cons Of Borrowing From A Bank To Pay For A Rent To Own Home

There are so many unique and creative financing options for those who really want to buy a home. Even if you have bad credit, there are options out there available to you. If you are looking at the rent to own financing option to purchase a home for sale, then this article will offer you several benefits.

This article will cover the topic of borrowing directly from banks in order to obtain a mortgage loan required to make the final purchase on the home once the rent to own financing contract has run its course on the renting portion of the contract. You will be given a list of pros and cons which should allow you to better decide whether to borrow directly from a bank, use a mortgage broker or lend directly from the homeowner.

Pros

Reliability: There are not many financial institutions that are more reliable than banks. You may chuckle under your breath considering the past few years filled with bank bailouts end near runs on these lending institutions, but federally insured... to continue reading click here.

To view rent to own home listings near you visit RentUntilYouOwn.com now.

Preparing For A Rent To Own Contract

If you decide to use the rent to own financing option to purchase your home, it is important that you prepare yourself for the reality of the situation. Knowing exactly what you are getting yourself into is key, particularly when legal contracts are signed and you become liable for certain financial aspects of the contract.

This article will run you through the basics of determining whether or not you are qualified for a future loan before you enter into a rent to own contract. Since the goal of a rent to own contract is to give yourself some time to get your expenses in order before purchasing a home, you should have a plan on how you are going to save that money to purchase the home.

The Ball Is In Your Court

Ultimately, only you can determine what kind of home you can afford and how much you want the monthly payments to be. Sit down with your significant other (or if you’re by yourself) collect all of your income and debt statements. It will be important to know exactly how much you make on a regular basis and exactly what your current debts are.

One of the most common mistakes that people make... to read the full article click here.

To view free listings of rent to own homes in your area visit us at RentUntilYouOwn.com now.

What Closing Costs Can I Expect In A Rent To Own Contract?

One of the interesting things about the rent to own financing option is that it is often home owner financed. Meaning, in many cases the bank plays no role other than administrator in the entire financing of the home. While this article will outline some of the basic closing costs associated with the typical rent to own contract, it is important to be aware that the home seller can create closing costs of their own.

Budgeting for closing costs is incredibly important because closing costs can account for up to 8% of the total property. If you are going to be using the rent to own finance option to buy yourself some time to save up money or to repair your credit, don’t forget to factor in that extra 8% in order to close the deal.

Here are some of the major closing costs:

Escrow fees: Escrow fees are basically the paperwork fees. These fees cover all of the home purchase related documents and funds. Typically escrow fees are several hundred dollars and are based entirely on the purchase price of your home.

Title insurance: Title insurance is incredibly important in the rent to own situation. Why? Because title insurance... to read the full article click here.

To view rent to own homes listings near you visit RentUntilYouOwn.com now!