Whats the diffrence in a Rent to Own Home and a Lease Purchase??? Please explain Im learning.

Hope this answers your question…

Q. What’s the difference between a lease-purchase agreement and the more frequently mentioned lease-option?

A. Both are simply what their respective names imply. A lease-option is a property lease with an added option to buy it, which the optionee is not obligated to exercise. Only if he or she chooses to exercise the option to purchase the property is a sales contract initiated.

A lease-purchase, on the other hand, is already a purchase. It’s drafted on a purchase and sales agreement and is merely awaiting the fulfillment of a term or condition before it culminates in a closing (the date of which is predetermined). Here’s an example:

A prospective buyer, who lacks some of the total down payment needed to purchase a property, asks the property seller if he’d accept a lease-purchase arrangement. The contract would set a future closing date, as well as spell out all other terms of the deal, such as financial arrangements and the payment of closing costs. If agreed upon, the buyer would typically take possession of the property, subject to the terms and conditions of the occupancy.

that’s it.

Plenty of information here:

http://search.yahoo.com/search?p=Lease+to+own+north+carolina&fr=ush-ans

How useful any of it will be to you is debatable.

they defaulted on their mortgage to a lender, what makes you think they will pay you ?

before you sign anything make sure the person selling you the property is the owner and not a middleman doing a reassignment contract.

Also realize that if the property has a mortgage on it the owner/flipper could stop making the payments or declare bankruptcy and you will be evicted out on the street losing all you put into it.

if you can not get a mortgage now for a normal for sale property, why do you think you will be able to get one on an overpriced rent to own property in the 1-2 years ?

here is one of the goofy scam programs being advertised all over late night tv… read up and beware….

http://www.flippinghomesmadeeasy.com/financing.php

im looking for a home that is rent/lease to own in the lakewood area. if anyone could point me in the right direction that would be great.

Here’s a link to Craig’s list and a few property management companies in the area.

http://seattle.craigslist.org/search/apa/tac?query=lakewood&minAsk=min&maxAsk=max&bedrooms=

http://www.southsoundclassifieds.com/listing.asp

http://www.park52.com/

http://www.houses4rent.com/

http://evergreenresidential.com/

http://www.mgmnw.com/

http://www.wpmsouth.com/main_search.html

I plan on applying for a mortgage to purchase the house within 18 months. However my roomate only plans on staying for a year. How should the lease be written up, to be both legal and fair to the both of us.

If your landlord agrees, you can simply rent the property and sublease to your roommate. If the rent is more because of the purchase option, you can reduce your roommate’s rent by the amount of the increase if you think that is fair.

HOW DO I FIND A RENT TO OWN OR LEASE TO OWN HOME IN PORTLAND OR? I REALLY NEED SOMETHING LIKE THIS ASAP! IF ANYONE HAS ANY INFO ON THIS TOPIC PLEASE HELP!!

http://www.rentalsearchers.com/rent-to-own-home.html

try this website…. good luck!