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Buying a Rent-To-Own Home:
What You Need To Know
Part 1: Introduction
Are you in the market for a house, but afraid that poor credit or work history places you years away from achieving your dreams of home ownership?
Are you sick and tired of throwing your hard earned money away on rent?
Have you been turned down for a mortgage before? Maybe more than once?
Do you think you’re forever destined to be one of the only person you know not to own a home?
Before you resign yourself to living in an overpriced, overcrowded apartment for the rest of your life, let me tell you about another way – a better way – one that could have you well on the way to home ownership much sooner than you think. It’s called a rent to own agreement.
Simply put, renting to own is a combination rental/purchase agreement, also known as a rent-to-own agreement or lease option. Whatever you choose to call it, it’s a viable option for anyone with credit or other issues that make traditional financing options a pipe dream. Think of it sort of like your local rent to own furniture store, but without the lousy terms and cheap merchandise.
A rent to own agreement provides a clear path to home ownership without all the hassles and credit hurdles that more traditional lenders place in your path.
You know you’re ready to rent to own if you:
- Are sick of wasting money on rent – and having nothing to show for it
- Don’t have the cash for a huge down payment on a house
- Want to build home equity, fast
- Need time to fix or build your credit rating or history
If the idea of being forced to buy at the end of the agreement doesn’t thrill you, this should make you happy: You’re not obligated to buy at the end of the agreement, but if you want to, the owner has to sell you the house. This places most of the burden on the seller and not on you.
Very briefly, here’s how it works:
- You pick out the house of your dreams from one of the homes we have available for you to choose from
- You sign your rent-to-own agreement and place your down payment (option consideration) on the house
- You move in and make your payments
- When ready, you complete the purchase
This is a brief introduction to how our program works. Be sure to watch your e-mail tomorrow because we'll send you Part 2 then.
We look forward to making your dreams of homeownership come true!
Sincerely,
John Smith
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