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  • bob2015
    replied
    rent to own homes houses etc

    well i read all of the replies and posts here and i got to say this, i dont even beleive in rent to own homes now anyway i have done alot of researches into these and these are a trap for people to get lured into rent to own homes, i have to tell you this is bad buisness they are out just to get your money thats all it is for, i have seen sites where you have to pay for $1 trial and then you have to pay $29.99 a month subscription for membership, its a rip off because you dont get a home to rent to own i have asked alot of people they said they never heard such a thing like that and said it doesn't even exist out there..,, they said only thing that exist is real estate agency like for example coldwell banker, century 21 and so on they are the only things that you are gonna see out there, owners out there are making a fraud on people too, i have noticed none of them participate in rent to own programs cause they dont exist, you want the house owner wants full cash now upfront no partial cash accepted, no credit cards or checks many dont even take checks they want to see some green cash bucks on table, and the sites that use $29.99 a month subscription is bogus they are using the money to advertise on the internet. it is also noted that retirees cannot even get a home to own WHY??? because they dont get much back from the federal goverment, they keep half of it and give you back only what you get each month, many retirees are in shelters and many are in old peoples homes for the entire checks they could only get, i have found that out too, anyone who is on survivors benefits from either civilian or miltary parent who dies and child gets that and people on SSA or anything they can forget it.... they are called reject's on real estate agent list's they dont accept anyone on these incomes and retirees get it from SSA thats federal goverment they dont accept these folks either, they look for extreme high paying workers they welcome those who are CEO. bosses, executives. company owners. and high profile buisness people they will accept them, and sell homes to those people in that groups i am learning alot of it right now,people who make at least $20,000 a month or more are accepted immediately for home to own, and those who make at least. around $200,000 a year or higher will be considered for a home to own, all others will be rejected and refused i have seen people being refused at real estate offices almost anywhere it was awful, thats the 21st century way of buisness now not like it was in early 1960's and into 1970's until around mid 1980's things began to change for the worse, people started getting rejected and refused and send away saying sorry we cannot work with you have a good day now. they stamped papers and applications denied and rejected, it was horrible experience for them if i was you i would forget it. dont even try it or even go for it you be wasting your gas and your money and time on this for nothing only to get refused and send away it will happen to you as it does to thousands of people. i also laughed out at one of these so called joke on people they say no credit bad credit or good credit you can rent to own HA HA it was a fooling people thing, they lied and they said no score checked its phony they sneak up behind your back and say oh excuse me we had something on your worksheet thats what it was credit score check hmmmm caught one who did to my friend thought oh okay great and only to find he got kicked off the the list to get a home, he was refused they stamped his folder rejected, indefinitely, meaning permanately he has been rejected forever, he can never get a home, i know that i was told real estate offices are also bad to people to work with, as they sell houses and they do as they please they dont care about anyone only themself. they want green money on the desk or else they just close the door on the person i dont even trust any of them here anywhere in the united states now anyway,most people are now leaving america to another country to buy a house WHY??? foreign countries SURE!!!!!! they get the house there without any problems, oh i see that was very interesting most americans now own a house in another country, other then america as you can see why many dont trust america anymore because of all of this mess, so if i was you i forget about owning a home it will never happen in your lifetime or anyone's lifetime either its sad but very true, i have seen it happening and tried not to beleive it but it was true what i saw going on, so folks you all may have to look for other options many buy big RV's and they live in it on a RV park or mobile home parks,,,, and just pay every month till they paid in full have seen that too, oh well it breaks my heart to see the mess happen to people but that is reality,

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  • DaveInPgh
    replied
    Originally posted by tomhole View Post
    6 year old thread
    I typically find the motives suspect when really old threads are bumped

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  • corn18
    replied
    6 year old thread

    Leave a comment:


  • Gailete
    replied
    When I was a teen we moved into a home that needed truck loads of garbage hauled out before we could even move in. But my mom got the place spic and span, liked it and got an agreement with the landlord to buy it on land contract at the same rent she was then paying. By the time we moved across the country 6 years later, she and my stepfather had improved the place so much that the landlord bought it back from them! Not sure if land contracts are even available anymore, but they are the way to go if you can swing it and you really like the house.

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  • MichaelHulse
    replied
    Well I to don't do it according to my experience.

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  • sv2007
    replied
    Originally posted by Payn_it>>> View Post
    My wife was had heard about Rent-To-Own Homes, and found a few websites listing homes in our area. Are these Legit? i notice they're mostly forclosures. How does it work and such. Good idea, Safe?
    They are legit and safe, but they almost never make financial sense for the buyer.

    Leave a comment:


  • Lisacareyrealty
    replied
    Rent to own home

    "Rent to Own" is a fantastic alternative financing option for many specific scenarios. It must be followed as a convention loan. As far as the contracts being "stacked in favor of the seller". It is not a true statement. The tenant/buyer has a say of what goes into the contract and what is acceptable before the agreement is written. The tenant/buyer can have his/her lawyer review and rewrite an agreed upon contract. Preparing a contract with the seller/landlord can ensure that the "Rent To Own" investment is fair and balanced.

    Leave a comment:


  • DebbieL
    replied
    Around here they are a bad idea in general. They are set up to favour the owner - not you. If you decide not to buy, you don't get any of that money back. You've basically just spent a lot more than you would have had to for rent (it always costs more than a straight rental - at least that's how it works here), and you have nothing to show for it. I wouldn't enter into this kind of arrangement.

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  • thomsoad
    replied
    Personally I wouldnt do it. Usually the price per month is higher then actually renting. And if the landlord bk's or forecloses on home you are SOL.

    Leave a comment:


  • cjscully
    replied
    You can't make a blanket statements like "it's great" or "it's bad". Lease Options or Rent to Own can potentially win-win deals for the buyer and the seller. Many honest real estate investors do these deals all the time. Are there dishonest people in this field just as there are in pretty much every industry. The best way to protect yourself from the dishonest folks is to read the contracts carefully. Honest people are willing to discuss and some are even willing to negotiate any part of the contract you have a problem with. Honest people want the transaction to be a win-win. Those are the folks you want to deal with.

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  • renttoownhouses
    replied
    Rent to own websites that offer foreclosed homes to choose from are outdated and no longer a viable option for someone looking for a home. When the market was hot investors would purchase the foreclosed home and offer it as a lease option to the buyers until they qualified for a loan. With the market unstable and declining, most investors are unwilling to purchase a home strictly to offer the home as a rent to own. The best way would be to negotiate directly with a homeowner to allow you to rent to own their home.

    Leave a comment:


  • Personal Finace Fleur
    replied
    I think it would be great if you would check it out together for better security, not just for yourself but also for your own future awareness

    Leave a comment:


  • Ashleywatson
    replied
    Originally posted by Payn_it>>> View Post
    My wife was had heard about Rent-To-Own Homes, and found a few websites listing homes in our area. Are these Legit? i notice they're mostly forclosures. How does it work and such. Good idea, Safe?

    You want to rent your own house definitly internet will help you for this,but make sure about frauds .you should take advice from property dealer for this which is neer to your home.

    Leave a comment:


  • snafu
    replied
    Rent to Own

    I've just learned that people desperate to sell have been taking an enormous hit selling to 'Rent-to-Own companies. This is significantly different than making a personal arrangement with a bank, financial institution or a private seller willing to carry the mortgage. These companies are using the Rent-to-Own furniture outlet model which are heavily weighted with fees and costs against the buyer. Some houses are those rejected by house inspectors due to significant problems uncovered on inspection.

    This is nearly as unsavory as PayDay Loans. The buyer will overpay and with they way amortorization tables work, this amounts to really gia-normous sums.

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  • tdls17
    replied
    Making A Budget, How To Create, Make Budgeting Personal Finances A Priority

    I've landlorded for several years and will tell you to read the lease/rental agreement fully and patiently before you sign. You can ask for a copy; don't be pressured into signing anything. Some landlords are not too ethical and are in it for the option $$ on rent to owns.

    Also, please make sure you understand all the monthly costs; including utilities. Many people overshoot what their budget can handle.

    Tim
    Making A Budget, How To Create, Make Budgeting Personal Finances A Priority

    Leave a comment:

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