More On Rent-To-Own Real Estate Deals

The Milwaukee Journal Sentinel recently ran a story in which they report:

• "[S]ome fed-up sellers are turning to rent-to-own, a tactic that all but disappeared from the market when home loans were easier to get. Also called lease-to-own, the arrangement appeals to would-be buyers who are stuck because of the same market dynamics: They want to buy, but their down payment is locked up in their own house that won't sell. Rent-to-own is fraught with pitfalls, say lawyers and real estate brokers. It's harder than it looks to construct a fair contract, and sellers don't always get what they want: an easy, automatic sale."

For more, see Taking a different tactic (Frustrated sellers turning to rent-to-own arrangements).

For reports on Indiana "rent-to-own operator" TotalBiz 247, whose "rent-to-own" and "land contract" deals have been described as "flipping schemes with a delayed closing" and has attracted the attention of the Indiana Attorney General as a result of consumer complaints, see:

• Experts question TotalBiz deals, and
  Home sale scheme features hidden sellers

For my prior post on another rent-to-own article, see Rent-To-Own, Lease-Purchase Offers Gaining In Popularity (Uh Oh, Here We Go Again!).

Go here for other posts on "rent to own" scams. rent to own lease purchase option scams zebra