| So what is Rent To Own really all about? The | | | | disadvantages. Even though it can be great |
| following report includes some fascinating | | | | for those with not so great credit, you'll |
| information about Rent To Own--info you can | | | | normally end up paying back a lot more than |
| use, not just the old stuff they used to tell | | | | you would with a mortgage. You'll still have |
| you. | | | | to pay back your lender with a mortgage, |
| | | | although that amount won't be nearly as high |
| If you find yourself confused by what you've | | | | as it would if you decided to get a house on |
| read to this point, don't despair. Everything | | | | a rent to own basis. |
| should be crystal clear by the time you | | | | |
| finish. | | | | In most cases, rent to own houses are put up |
| | | | on the market by the owner. This way, you'll |
| Most of us are very familiar with the term | | | | deal directly with the owner. It will start |
| "rent to own". Places such as Prime Time and | | | | out as a traditional lease, then proceed to a |
| Rent A Center have built an empire with rent | | | | rent to own basis if you decide you want to |
| to own merchandise, although the buyer | | | | keep the home. You and the owner will then |
| normally ends up paying double what the | | | | work out an arrangement, which will normally |
| merchandise is actually worth. While this | | | | be quite a few years. Some owners are very |
| may be great for those who have bad credit, | | | | flexible and will work with you just to get |
| most of us prefer to avoid going this route. | | | | the price they want for their home, while |
| Homes are no exception, especially if you are | | | | others will charge you quite a bit more, in |
| buying a home on a rent to own basis. | | | | order to make a hefty profit. |
| | | | |
| Even though rent to own may be good for a | | | | If you have bad credit and can't get approved |
| short period of time, it proves to be an | | | | for a mortgage, then rent to own would be |
| expensive way for someone to buy something | | | | your next best option. Although some don't |
| they intend to keep. Rent to own merchandise | | | | like to do it due to the price, for many it's |
| for example, may sound quite compelling at a | | | | a better alternative than an apartment. With |
| few dollars a week. The agreement is | | | | rent to own houses you are paying money |
| normally for around 15 - 20 months, which is | | | | towards the home, instead of just paying |
| where the company makes their money. | | | | rent. In some cases this is fine, although |
| Although you may be paying just a few dollars | | | | you should make sure to double check with the |
| a week, the total amount quickly adds up to | | | | owner before you agree or commit to anything. |
| nearly twice the cost of the item. | | | | This way, you'll know how much you'll be |
| | | | paying for the home - and for how long. |
| Read on and discover more.... | | | | |
| | | | So now you know a little bit about Rent To |
| Along with paying rent, you'll also have to | | | | Own. Even if you don't know everything, |
| pay applicable sales tax as well. Like | | | | you've done something worthwhile: you've |
| merchandise, rent to own real estate has it's | | | | expanded your knowledge. |