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Has anyone ever done a rent-to-own?

We're looking into a rent-to-own property. I was just wondering if anyone else has done this and what they liked/disliked about it?

 
mamahud

Asked by mamahud at 1:31 PM on Mar. 3, 2009 in Money & Work

Level 1 (3 Credits)
This question is closed.
Answers (3)
  • Usually rent to own situations end up costing you trifold in the long run. There are tons of legal problems that can arise too. I'd be wary. If you do decide to go through with it have a very detailed contract written up and invest the money in having a lawyer look over it with you! Got to protect yourself and your family :) Good luck!
    usbornebooksdh

    Answer by usbornebooksdh at 1:46 PM on Mar. 3, 2009

  • This sounds like a question to ask Clark Howard's team. Check out his website for help. They will give you good advice.
    timelessglass

    Answer by timelessglass at 1:33 PM on Mar. 3, 2009

  • I can tell you this much, My friend was in a rent to own property until last week. The problem with them is that the actual owner can decide to cancel the contract at any time. Personally I wouldn't trust it.
    shanizlla

    Answer by shanizlla at 1:38 PM on Mar. 3, 2009

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