Many people know why rent to own homes are so advantageous, but few know how rent to own works. Here’s a brief explanation to help guide you through the process.
The Period of the Contract.
One of the first things a buyer and seller negotiate is the period of the contract, which is how long the buyer will lease (rent) the house before making a decision to purchase it. Most contracts have a period between one and three years. Oftentimes, prospective buyers will set the period of their contracts higher to give them enough time to rebuild their credit or so that they have enough time to save up for a down payment. Some, on the other hand, will set the period sho Continue reading “How Does Rent to Own Work?”