Many Minnesota Rent-to-Own properties are not advertised! Home sellers' either do not know about them, or do not understand how they work. Experienced professionals can explain the process and benefits to them and their potential homebuyers causing a winning agreement between both parties.

Rent to own contracts include a seller that acts as landlord and a buyer that acts like a tenant, until the purchase agreement is fulfilled. The standard structure of the agreement contract is the purchase price, lease term, down payment and rent credits. However, there are two types of rent-to-own contracts: The Lease Option agreement offers the buyer the option to purchase the property; the Lease Purchase requires the purchase at the end of the term. The Lease Purchase contractually obligates the buyer to fulfill their commitment to purchasing the property. Taxes and insurance are paid by the seller until the sale. A portion of rent known as Rental Credits are applied monthly to the purchase price if stipulated in the contract.

Many Minnesota home seller's need help today to sell their homes. Alternative financing increases exposure and opportunity. Potential homebuyer's see the real estate opportunities, but some are in no position to participate in traditional lending options. Rent to own helps them improve credit, position themselves for future traditional financing and achieve the dream of homeownership.

Buyer's should understand if they do not exercise the purchase agreement they lose any deposit, monthly payments and/or rental credits.

 
 Bob Elliot - REALTOR® 
  26 Years Local Hands on Experience!
 Traditional, Short Sales, Foreclosures, and Contract for Deeds
 Direct 612.578.6162 Fax 612.246.4198
 bob@minnesotarealestatetoday.com  
 http://www.minnesotarealestatetoday.com

    

 *This website is for informational purposes only.
   Information is not intended as tax or legal advice

  RES Realty 
  Burnsville, MN 55337
  RES Realty is not a mortgage lender and so you should contact a mortgage lender
  providing the mortgage product(s) identified directly to learn more about its mortgage
  products and your eligibility for such products.