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Mom Confessions Mom Confessions

Rent to own home???!!!!

Anonymous
Posted by Anonymous
  • 12 Replies
Has anyone done this for their house? Do you recommend it? Im thinking about using my tax money to do this.
Posted by Anonymous on Feb. 4, 2013 at 1:52 PM
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Replies (1-10):
Diamepphyre
by Ruby Member on Feb. 4, 2013 at 2:35 PM

 If you're absolutely sure that you'll be able to keep up with the payments, it could be a good investment.  But make sure that you can also handle maintenance, taxes, etc. on top of the payments, as may rent-to-own contracts require those things be paid by the person buying the property.  Good luck.

godsgirl26
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Finally home with my family and im loving it. Until i have to get ready to go back to my mom's to take care of her im ENJOYING myself ♥
Yesterday at 12:18 PM
by on Feb. 4, 2013 at 2:36 PM

Never.

Alison_C
by Silver Member on Feb. 4, 2013 at 2:37 PM
We're currently doing that and haven't had any problems
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Anonymous
by Anonymous 1 - Original Poster on Feb. 4, 2013 at 4:09 PM
Thank you

Quoting Diamepphyre:

 If you're absolutely sure that you'll be able to keep up with the payments, it could be a good investment.  But make sure that you can also handle maintenance, taxes, etc. on top of the payments, as may rent-to-own contracts require those things be paid by the person buying the property.  Good luck.

Anonymous
by Anonymous 1 - Original Poster on Feb. 4, 2013 at 4:09 PM
What state

Quoting Alison_C:

We're currently doing that and haven't had any problems
lovinglife0682
by on Feb. 4, 2013 at 4:11 PM
I would not do it. You lock yourself in on a price. If the value of the house goes down than you are buying a home you are already upside down on.
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Grumpylilpixy
by on Feb. 4, 2013 at 4:14 PM
We have done it. Do ur homework sometimes they want you to take over their trash. And sometimes it is because they can't pass inspection. So do your homework. Also it is best to use a closing company. It cost about 500-1grand but you would sign papers just like you would if you were buying from a bank. Also know how much you are paying over. Sometimes they ask for more then its worth. Way over.
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melakay1981
by Platinum Member on Feb. 4, 2013 at 4:15 PM

My mom and dad did it to buy thier fisrt home and they had no regrets.  As long as you get everything done legally where no one can get screwed I think it is a good idea.

Anonymous
by Anonymous 1 - Original Poster on Feb. 4, 2013 at 10:01 PM
Thank you.

Quoting melakay1981:

My mom and dad did it to buy thier fisrt home and they had no regrets.  As long as you get everything done legally where no one can get screwed I think it is a good idea.

Anonymous
by Anonymous 1 - Original Poster on Feb. 4, 2013 at 10:02 PM
Yea im gonna speak to people and research it before I make any final decisions

Quoting Grumpylilpixy:

We have done it. Do ur homework sometimes they want you to take over their trash. And sometimes it is because they can't pass inspection. So do your homework. Also it is best to use a closing company. It cost about 500-1grand but you would sign papers just like you would if you were buying from a bank. Also know how much you are paying over. Sometimes they ask for more then its worth. Way over.
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