Rent to own concept
Well, rent first then own, right?
If you are going to rent a house, and then buy it, you would need an agreement for that.
First agreement is to rent a property with a lease, that would discuss how long and how much.
Let’s say that you had a term of 12 months, and $1,000 a month for rent.
Then you would have a separate agreement, called an option to purchase agreement, which gave you the right to buy the property at a certain price during a certain time frame.
Let’s say about an option to buy the property over the next 12 months for the amount of $100,000.
NOTE: It up to you as a buyer to get financing.
FHA financing is generally the easiest to get. Also VA financing for people that are veterans.
