Where can I find a good rent to own home?

Answer 1

Aside from the internet, Your local newspaper will also contain Realty ad's with contact information for any homes which might interest you. Some homes will also have Realty signs next to them if you drive by them. Those signs will contain Realtor information as well.

Answer 2

If you have ever dreamed of owning your own home but thought you couldn’t afford it, there is an alternative way to purchase a house. Sometimes a seller will offer their home for sale as a rent to own house. This way to purchase a house is the best way for you to buy without having to worry about putting down a large down payment.

With a rent to own house, you would contract with the seller as if you were renting the home. This means you would probably put down a deposit (usually one month rent), the first months rent and the last month rent. Just as in renting an apartment, you would have to sign a lease or rent to own agreement. You would settle on the purchase price of the home with the seller. Then, you would figure out how much of a down payment you would need to put on the house in order to buy. This down payment amount would then be divided up by twelve (since most rent to own agreements are only based on one year) and that would be your monthly rental amount. Depending on the seller, you may sometimes be able to waive the deposit and last months rent stipulation.

It is assumed with this type of agreement, that at the end of the one year rental term, you will be purchasing the property outright. Which means you would have put together the means for financing your mortgage. This is a very convenient way for you to pay a down payment on a home without having to come up with all of it at one time.

If after the end of the agreement term, you have decided that you no longer want to purchase the home or if you have been unable to obtain the proper financing to complete the deal, the agreement would terminate and you would need to leave the home so that the seller can move on to another potential purchaser.

If you cannot save a lot of money every paycheck in order to put a large down payment on a home, this alternative is something you should consider doing in order to buy the home of your dreams.

Answer 3

It is good to start with local newspaper for rent to own homes. Also, try out http://www.Craigslist.com for a list of rent to own homes in your city/neighbourhood.