A lawyer is suggested, as in all financial documents you sign. Rent to own homes have many pluses over standard financing options. No dealing with finance companies or realtors. One advantage to rent to buy is that if you compare how much rent money is applied monthly to the home price, even if it is only 25-40%, it will still be a larger amount paid on the principal of the home than if you had taken out a funding [...] The most obvious is that you work it out with the seller directly.
The good news for prospective home buyers is that it allows them to lock in the price of the house now even though they are not purchasing the home until a later time. The bad news is that if the buyer does not purchase the home at the end of the contract, the seller often gets to kees the premium paid over the year; there are many areas for negotiation though.
Montana Rent to Own Homes
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