Rent/Lease To Own House: How Does It Work? | First Time Home Buyer

Rent To Own House: How Does It Work? And is it a good option for First Time Home Buyers? In this video I walk you through what a rent to own house is, we answer the question how does it work?

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Joey Blanco
RWB Realty Group
Broker - REAL Broker LLC
Cell: 405-824-7160

Licensed in Oklahoma

[nictoo]

A huge savings for the buyer at closing to save on both realtor fees

[nictoo]

If the potential buyer can actually improve their credit to buy the house 2 to 3 years later then they got a good deal and actually the rent money out the window for those years allowed them to live in a house that they enjoy for many years

[nictoo]

If the renter does not have the 7500 to put down, then, depending on the term of the lease three or $400 per month, additional rent would be required that allows them to buy the house at the end and that money would not be refundable and they still need to come up with a finance company that gives them the moneyto buy at 106, 000 or more

[nictoo]

I don’t think the 7500 should go back to the buyer at closing.. It was the cost of the option and goes to the owner, but the $100 a month rent extra would go towards closing

[nictoo]

I think usually the renter would be required to pay minor maintenance issues of $500 or less per occurrence which is a nice headache off the landlord’s shoulders

[nictoo]

The buyer would’ve saved at least $6000 by not having to use realtors so no reason to give $7500 option fee back

[nictoo]

If the buyer could’ve bought the house to begin with using builders, they would not have paid 100, 000 they would’ve paid at least 106, 000 to begin with and now they’re getting the house two years later without realtors for 106, 000