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Rent to Buy

Has anyone done this? How do you find out which houses have this option?

Since we know that we are going to take a huge hit on selling our townhouse we are thinking of renting our townhouse for two years and looking into rent to buy options in the area... In two years we willhave paid enough off on the townhouse that it will not matter  if we take a 30-40 thousand dollar loss on it. 

Formerly Cakes2114
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Re: Rent to Buy

  • I am an agent, so hopefully I can help shed some light on the subject for you :)

    It's honestly fairly hard to identify which houses have that option.  Your agent can search the MLS and there is a checkbox that other agents can choose when listing a home that says "lease purchase" .. so if someone off the bat knows they are open to this, they will have checked this box and your agent can narrow your search that way.

    Unfortunately though, it's few and far between that people do check that off.  Even if it's something they are open to.

    The thing I normally do for my clients is to do a search of homes that have been on the market for a long time, and also a search of rentals that are also listed for sale.  Those are your best bets for getting them to consider a lease purchase.  Chances are, a new house on the market is NOT going to be a great option.  But something that has been sitting for over a year?  Sure!

    Good luck :) 

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