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It's pretty risky. When you move into a rent-to-own house, you generally pay an "option fee" of 1-2% of the house price. Then, if you rent the house for the term, you get the option to own it. Be aware, however that if you leave the house or violate the lease, you lose your option fee and the time invested, leaving you with no equity.
What else can I help you with?
Can you get a business loan if you work part time and have bad credit and do not own or rent a house?
I don't think so.
How do you rent out your own house?
You can rent out a room or part of the house, or you can rent the entire house. Either way you can run an ad or listing with a real estate or rental management office.
Do you rent a house or you own it?
I currently rent a house in Edmonds, WA. It fits my financial situation and is a lovely place to live.
What is the term for ground rent lease?
Ground rent lease means you own the house but someone else owns the actual property that the house sits on; therefore, you must pay the owner rent on that land. If you don't own the ground rent, you can purchase it.
If someone is in a rent to own agreement and files bankruptcy will i lose my house?
You will not lose your house unless there is a large amount of equity in it. You will need to reaffirm your rent to own agreement, however.
Is it possible for me to rent my own house to myself?
No, it is not possible to rent your own house to yourself as a rental agreement requires two separate parties, a landlord and a tenant, who are not the same person.
Can you rent a car or house under the rent for lease option?
In the case of a car, yes you can. Most car lots will allow you to rent to own a vehicle. In the case of a house, it depends on where you live. Most places do not offer a rent-to-own option. You either rent, or you own. However, things may be different in your area. Talk to a real estate agent.
What do a stylist work with?
Hairstylists work in hair salons. They may own the salon, rent space there, or have a salon set up in their house. Some work on cruise ships or at resorts.
How can I find a rent to own 2 bedroom house?
You can find a rent-to-own 2 bedroom house by searching online real estate listings, contacting local real estate agents, and exploring rent-to-own websites. Be sure to carefully review the terms of the agreement and seek legal advice if needed.
What is cheaper a "rent to own" or actually buying a single family house?
Buying a single family home is going to be cheaper but you have to have cash in hand to put down on the house. Rent to own is nice because they will take a percentage of your rent and put it down on the property when you go to finance it into your name.
Do the Gosselins own a beach house?
no, but they do always rent one when vacationing in North Carolina
How do you house in Australia?
some people own some rent and some live out on the street.
