Tuesday, July 8

Tag: rent to own contract

Real Estate

What to Negotiate With The Landlord In A Rent To Own Contract

One of the easiest ways to own a home is to consider a rent to own contract. Here, lease the home with a chance to purchase the property at the end of the contract. You are required to pay a percentage of the property value of about 5 to 7 percent. This is a contribution towards the down payment of the property when you decide to purchase it. You have to pay monthly rent and a rent credit which is a contribution to the down payment for the property.Here are things to negotiate with the landlordOption feeThe rent to own contract includes an option fee. This is a one-time non-refundable fee paid upfront. This shows your commitment towards purchasing the property when the lease expires. Fortunately, the option fee is negotiable since there is no standard rate. So, you can nego...