More Insight into Rent to Own to Carry Back

I thought this article to be interesting, not completely residential related.

Keep in mind when you are looking to buy a home on seller financing that it is important to look at your offer from the prospective of the seller.

Tons of Rent to Own Homes in Georgia, Minnesota, and Illinois

Now more than ever it is a great time to find rent to own homes. In doing my search here recently I have found that a few states have a tremendous amount of lease to buy houses currently available.

GARentToOwnNow.com or MNRentToOwn.com or ILRentToOwnNow.com

all have at least 100 or more properties available at any given time.

I recently read an interesting article on rent-to-own. view this here:
Rent-to-own home deals surge in popularity

I thought the author did a great job of explaining the learning curve of a lease to buy:

Lease-option contracts are written for individual homes and situations, so there are few fixed rules. However, both parties usually agree on a few general criteria.

The contract usually states that the buyer has to close on the residence within certain time period, usually a year or two. Homeowners avoid longer contracts, because of the risk of losing too much on the upside should real estate values appreciate quickly.

Also, buyers are required to put down a hefty upfront payment, usually between $3,000 and $5,000 for a typical home. In some cases, that money is put toward the eventual down payment.

The buying party also pays rent, giving the owner a monthly income stream to pay or offset the mortgage. Typically, a portion of each payment is set aside for the down payment.