Lease to Purchase Homes
Lease to purchase homes are becoming more popular in recent years. Likely due to the downturn in the economy.
Many potential buyers simply do not have the financial resources to purchase a home with 10-20% down, as many lenders now require. And the days of 0% down home loans are gone.
This type agreement can be a wise decision in comparision to a tradional lease agreement. Whats the old saying? "throwing good money after bad". If you must pay for living quarters, why not put your money in a long term investment?
You can arrange with the seller to have a percentage of your rent dues go toward the purchase of the home. In other words, most lease to buy homes are simply a method of paying a down payment slowly over the term of your lease.
The exact terms must be negotiated with the property owner.
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