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Why Lease Or Rent To Purchase Agreement Is Not A Good Option
Franklin TN home buyers will often ask about doing a lease to purchase sale agreement. I always advise them that this is not beneficial to them. However, the article below written by a mortgage lender, does an excellent job of explaining why. It's better to just flat-out buy the property. The only person who really benefits from lease to purchase is the landlord/seller.
If you are looking to buy real estate in Franklin TN, contact Tammie White today at (615) 495-0752.
Ginny Gorman wrote a blog on Tuesday titled "Lease Purchase in a Home | Recommended or Not?" I commented on her blog that I was not a fan of Lease to Purchase Agreements.  In this blog I will attempt to show Why Lease Or Rent To Purchase Agreement Is Not A Good Option.
In its simplest form a Lease or Rent to Purchase Agreement is a contract between the Renter and Landlord, by which the Renter agrees to purchase a property at a later date, and in return the Landlord agrees to contribute money towards downpayment. The theory behind the Lease or Rent to Purchase Agreement is it provides a benefit to both Buyer and Seller.  The reality however is a Lease ... more

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