Tuesday, August 25, 2009

Lease Options and Rent-to-Own

Over the past two years, we have heard from more and more clients expressing an interest in Lease/Options or Rent-to-Own listings. In fact, I am currently working with two such clients who both have homes to sell first. They are not comfortable with another mortgage. Here is a good article that mentions some of the pros and cons of these types of scenarios:
http://money.cnn.com/2009/06/02/real_estate/rent_to_own/index.htm?postversion=2009060416
I attended a class at the Association of Realtors earlier this year that covered this topic with the key point being that the best thing to do is consult your Realtor and attorney to make sure you have all of your bases covered since these deals can be extremely complicated.

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