Things to know before signing a Rent-to-Own contract
What does rent-to-own mean?
Also known as a lease option, a rent-to-own contract allows renters to lease a property and, at the end of the lease (usually one to three years), have the option to purchase the home at a predetermined price. Ideal candidates for a rent-to-own option are potential home buyers who dream of ownership but are also concerned they haven’t saved up enough cash for a down payment.
As a renter, you must be cautious before you sign a rent-to-own contract. There are many stipulations… READ MORE