13 May , 2015
This just happens to be a matter of fact: rent-to-own deals typically favor the seller. For obvious reasons. Why a seller would even option at a rent-to-own vs. a typical FSBO is obvious. Perhaps the market’s stale, and the seller’s not getting much of a bite on the fair market value and price. So what does the seller do? Opt for a much higher payout later on while the buyer pays rent for a certain period of time. You can see the benefit here.
This is generally the case for a lot of situations involving rent-to-own deals — and, no, an attorney can’t always handle the issue, believe it or not. Just another reason why you might want to consider our rent-to-own consultants, as we sidestep all the legal documentation, plus the licensing necessary from state to state (because you do know that a lawyer working in Indiana can’t represent you in California, for example). And we can just help you straight out: the negotiation, the scheduling, the deal.
In the end it’s all about education. We’re guiding all potential home buyers through the steps of rent-to-own deals, ensuring they don’t get their foot stuck in that same ol’ bear trap many sellers unknowingly place just for their own benefit. It’s no joke. There was one instance with an LTO contract that stipulated a buyer’s requirement to make rent payments on time, which is all good…. Until the contract also stipulated that any rent payment late beyond five minutes would renter the contract null and void, leaving the buyer high and dry with no option to buy after all that time and effort in making rent. Gee, thanks.
Steer clear of contracts stating that, for sure. But just in case you’re not one to have to read a ton of documents and have your head spinning left and right, always contact us as your consultants to get things squared away.
Because, without a doubt, you deserve to own that home. You’re the one pouring all that money into it!
consulting, contracts, for sale by owner, FSBO, home buying, home selling, homeowner, landlord, lease to option, lease to purchase, LTO, negotiation, property, real estate, rent-to-own deals, rent-to-own homes, tenant, transactions