trying to find a rent to own or lease to own home due to credit issues. Been a good tenant-never been late or missed rent. Are there any contacts or at least good advice on what to look for %26amp; what to avoid ? ThanksConsidering rent to own option near Pitts. PA. need advice, links. there seems to be a lot of scams out there?
Scammers have taken over this entire section of the real estate world. Avoid them all. Just rent the nicest house you can afford. After you have made 6 months of on-time rental payments, ask the owner if you can buy the house. That way you are dealing with someone you know and trust.Considering rent to own option near Pitts. PA. need advice, links. there seems to be a lot of scams out there?
Aside from acceptable financial arrangements (value of payments, maintenance issues, etc.) the MOST important thing to have in your contract is that your payments are made payable to the current owner AND the mortgage firm(s) holding any liens on the property. A rather common scam is that the current owner accepts your payments while failing to make HIS payments to the lender, and the property ends up in foreclosure anyway. In such a scenario, every penny you paid is gone.
Making your payments co-payable would prevent such.
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