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Rent to own?

My boyfriend and I are moving to IN next week.We will be staying with a friend for a month or so and then moving out. I was looking at craigslist and other rental sites and came across rent to own.Have any of you done this? Pros and cons?

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Anonymous

Asked by Anonymous at 6:09 PM on Jun. 11, 2011 in Home & Garden

Answers (4)
  • Oh, what part of Indiana? I'm a few miles from notre dame....

    As for rent to own, I haven't but I know a couple who is doing this and they really enjoy it. They like the fact that they still have a landlord to fix things, yet they went just putting money into nothing.... Make sure you read over the contract, see what you will be responsible for.
    BabyBugsmama

    Answer by BabyBugsmama at 6:12 PM on Jun. 11, 2011

  • I agree with BabyBugsmama as far as reading the contract carefully. We are owners of a house that we are renting out with a rent to own agreement. The tenants are responsible for ALL maintenance and repairs on the house. The only thing we are responsible for is keeping the house in our name and making the mortgage/tax/insurance payments on time (with the rent they pay) til they are ready to buy it. They had to put down a percentage and if they decide not to buy within the the agreed time, they lose all the money they've invested in the house.
    MrsMWF

    Answer by MrsMWF at 7:11 PM on Jun. 11, 2011

  • We have done this, but ended up getting a job relocation right before we finalized the purchase. We did lose a big down payment, but my husband's Co reimbursed the fees.

    Sisteract

    Answer by Sisteract at 10:53 PM on Jun. 11, 2011

  • I say rent it's way better to get outvf quick if u need to and u don't have to worry about trying to sell
    momofsextuplet

    Answer by momofsextuplet at 4:25 PM on Jun. 12, 2011

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