Rent-to-own purchased by the tenants

[Aneta]

Has anyone seen a rent-to-own agreement to its completion, ie. did the tenant buyers buy out the investor at term end? What documentation is involved in this case? Is it simply a purchase and sale agreement? Or would there be more documents?

Would anyone have insight on the success rate of these rent-to-owns closing?

For the benefit of learning, I welcome anyone who wants to share any stories about any bumps they experienced during a rent-to-own.

Thanks for sharing!

 

[JoeRagona]

Hi Aneta,

We met at the last meeting and I`ve shared some of my stories regarding my two rent to own dealings so far. I have learned a lot along the way mostly from my own mistakes and will gladly share my insight with you.

I am actively pursing more applicants but with much higher due diligence.

Call or email me anytime and we can chat and spare the members my double posting all over again

 

[JamesB]

QUOTE (Aneta @ Feb 1 2010, 02:45 PM) Has anyone seen a rent-to-own agreement to its completion, ie. did the tenant buyers buy out the investor at term end? What documentation is involved in this case? Is it simply a purchase and sale agreement? Or would there be more documents?

Would anyone have insight on the success rate of these rent-to-owns closing?

For the benefit of learning, I welcome anyone who wants to share any stories about any bumps they experienced during a rent-to-own.

Thanks for sharing!




Mark Loeffler has written a book on this. He has done MANY of these so Im sure it would be helpful to pick up a copy!