Understanding the Process of Selling a Home Through a Rent-to-Own Agreement
Selling a home through a rent-to-own agreement can create a flexible path for both sellers and future buyers. This arrangement allows a tenant to live in the home while preparing to purchase it later, giving the seller steady income and a committed future buyer. What a Rent-to-Own Agreement IsA rent-to-own agreement allows a tenant to rent the home while also securing the right, or sometimes the obligation, to purchase it at a later date. The agreement usually includes a set purchase price and a timeline for when the buyer can complete the purchase. This gives the tenant time to save,…