Worth paying for "RENT TO OWN" web sites? (sales, real estate)

[annel72]

Not sure if they want my $50 a month to be a memeber. But can't afford to throw money out there. I'm looking for rent to own but don't know where to start or with whom. Tired of people trying to scam!!!

[tlee111]

Rent to own sounds like an easy way to get into a home but I don't know who to trust either. I feel like theirs no one out there that will give you the correct information without trying to make a quick buck. Its already a struggle to stay in chicago anyway everything is way too costly.

[middle-aged mom]

Those who offer property on a rent to own basis tend to do so to charge higher than market rent. They know the likelihood the buyer will someday close on the property is usually somewhere between slim and none. The reasons the buyer could not buy outright in the first place tend to persist. In some cases, the buyer loses interest once they occupy the property for awhile.

I am unaware of any rent to own situation that resulted in a closed sale. Because I am unaware does not mean it does not happen once in a blue moon.

Instead of wasting money on scam rent to own web sites, why not meet with a lender and talk about what you can do to be in a future position to buy a property if it makes sense to do so.

[doodlemagic]

My adive is don't bother with rent to own. It's heavily slanted towards the seller which it should be. 99% of people who do rent to own do so because they are not in a position to buy a house but want to. Generally you have to pay a hefty upfront fee, your rent is higher than traditional rent would be and only a small percentage goes to the purchase price of the home.

Also, just to be celar, rent to own isn't really meant for the owner to hold the title for the 30 years of your mortgage, its meant for people who maybe recently switched jobs or are in a sales job and need a year of solid income to get a traditional mortgage. They make good money but maybe can't get approved without a tax return or solid sales history for a year. This is really the only scenario where it makes sense.

Id' be curious to know the percent of rent to owns that acutally wind up buying, probably less than 50% and even that I bet is generous

[mattywo85]

I would avoid any site that charges you to pay for a monthly membership to find rent to own properties. Working in real estate I have never heard of such a thing and it sounds like a scam. You can talk directly with a real estate agent and they will give you all the information you need....FOR FREE. I would be happy to recommend an agent to you.