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· If you are considering a rent-to-own property, be sure to: Choose the right terms. Enter a lease-option agreement rather than a lease-purchase agreement. Get help. Hire a qualified real estate attorney to explain the contract. Research the contract. Make sure.
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How to Rent to Own a House | Sapling.com – The down payment also serves as a security deposit, which the seller can use if you back out of the purchase or cause damage during the rental term. Treat it Like a Purchase. Get a home inspection before you enter a rent to own agreement. You don’t want to find out about problems with the home after you have committed.
Rent to own homes are those with leases that include either an option to buy or a requirement to buy after a certain period of time. The rental payments include both rent and funds that contribute to a future down payment.It can help you build up your credit score and save for a down payment on the property all at once.
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