Advice on a Rent to own arrangement?

We are currently renters and our landlord has informed us that he intends to sell the house in the next 5 years. He asked if we would be interested in buying it. I know he’s having trouble with the carrying costs and I wondered if we might propose some sort of rent to own arrangement. Does anyone have experience with something like this?

Guest User | 6 years and 4 months ago

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yudashasom | 6 years and 4 months ago

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It’s more common in places with lower priced property, not here. It doesn’t work here for a few reasons.

dorkofwindsor | 6 years and 4 months ago

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Rent to own is not common – usually the option money is expensive and you almost always have to pay above market price. Just let the LL know you are interested and you will have a lot of time to get your ducks in order financially. And you can change your mind without paying for the option to do so. A potential seller who has already approached you would probably rather save the brokerage fee and not deal with the broker pageant.