Rent to own - what happens if the tenant wants to buy the property before the option expires

[VicChung]

Hello Everyone,

In the case of rent to own, what happens if a tenant comes down with the downpayment before the option is expired? For example, if the option is for 3 years and the tenant wants to buy the property say after the first year?

Thanks,

Vic

 

[RedlineBrett]

All depends what you have in the contract. If you can make the same $ in one year as in three years why not sell it now??

Most times the tenant/buyer will want a break on price if they close early. That would of course be up to you and what you deem best for your business.


QUOTE (VicChung @ Apr 26 2009, 11:12 PM) Hello Everyone,

In the case of rent to own, what happens if a tenant comes down with the downpayment before the option is expired? For example, if the option is for 3 years and the tenant wants to buy the property say after the first year?

Thanks,

Vic