Buying a home using the rent with option to buy maybe beneficial to you and it has many advantages.
When leasing with an option to purchase for both the buyer and the seller the benefit is that they both get what they accomplish to do.
The terms of a Rent With Option To Buy agreement typically applies part of the rent paid to the cost of purchasing the home, the seller is essentially setting aside this money for you to use it when the option is exercised.
A RENT WITH OPTION TO BUY allows the buyer to purchase a house without an extensive credit and financial obligation, and the seller benefits because it allows them to sell the home quickly and still get all or nearly all of their asking price . . .this is especially beneficial during a sluggish market.
The first right of refusal clause prevents the owner from selling the house out from under the renter. The option from the renter is the controlling factor.
The renter makes the determination at the end of the option to buy it or just walk away.
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