Rent to Own:
1) First Right of Refusal: For a nominal deposit a few grand, the tenant can have the first right to purchase the building. Deposit is given to owner land lord, with an expiration date. If an offer or the date come to fruition, then the deposit would be used toward the purchase. If the tenant cannot buy or does not meet or beat the current offer then the deposit is surrendered to the owner.
2) Rent Portions toward Purchase: Monthly Payments are given as rent and a portion of that amount is given toward the purchase and the down payment, with in a set amount of time. If tenant does not purchase then all money is belonging to the owner landlord.
3) Seller Financing: from you to the buyers for said time, said rate and amortization. Balloon due upon said date. All tax deductible from buyers point of view. This gives the buyer a chance to clean their credit up, get some equity and refinance in a few years. It gives the seller a chance to make some money, usually interest rates are a tad bit higher then norm because there is no closing cost or points on the buyers loan. This is a win win deal. If the buyer is smart he is open to purchasing other properties to, because seller financing will not show up on his credit report.
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