More On Rent-To-Own Real Estate Deals
- "[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 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:
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
<< Home