This is a piece of an article I found.....
LEASE-TO-BUY?????
People struggling to obtain financing for a home purchase are finding a viable option in lease-to-buy agreements, which enable renters to rent a property with the option to purchase the residence at the end of the lease term.
Buyers with poor credit find that this approach gives them an opportunity to improve their credit while moving toward home ownership; and sellers find that once-vacant properties now offer a stable cash flow. Now, a growing number of condominium developers are also testing rent-to-own programs in hopes of eventually getting units sold.
There is a problem for your typical owner wanting to do that in our area. Property taxes and insurance costs push the monthly payment higher than the rent they can obtain. In case no one has noticed, there is a glut of rentals because homes aren't selling. While developers may be able to use this option your typical homeowner cannot afford to pay the difference between what they can get and what their actual costs are.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment