; How Rent To Own Homes Work
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How Rent To Own Homes Work

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									How Rent to Own
  Homes Work
a great way for those
 who have bad credit
    to buy a home
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     How Does it Work?
• renting to own involves a somewhat
  different agreement than an ordinary
  lease
• after a likely buyer has reviewed the
  rent to own listings and discovered a
  wanted property
• the buyer contacts the seller to
  discuss pricing and further terms.
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 The agreement will stipulate a rental time and at the end
of the stated time, the person renting can decide to buy
the home.

The eventual sale price and the monthly rent is set at an
agreed upon amount.

When the renter enters into this contract, a no-
refundable option fee is usually paid

If the renter chooses to buy at the end of the
rental period, this fee acts as a down payment.

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    Advantages of Renting to
             Own
   Affordability
A part of the monthly rent also goes toward that potential
   down payment making the final purchase less expensive.
   The rental time allows the renter some extra time to
   improve their credit and save money.

   Try Before You Buy
The renter keeps the right to decide not to buy at the end of
  the rental period. The renter will lose the money put
  toward the down payment and the option fee but they are
  not stuck buying an unwanted piece of property.

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    Questions to Ask Before Signing
             any Contract
Are there any issues with the home?

Who takes care of repairs and any maintenance?

Can the renter make any improvements or changes while renting?

 What are the penalties if late with the rent?

Do you feel the seller looks sincere and is capable of carrying out
the agreement?



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Entering into a rent to own
 contract can be a wise
means to buying a house.
        Visit Our WebSite

  www.rent2owncanada.ca




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