Re: Rent to Own agreement!!! - Posted by Steve(NC)
Posted by Steve(NC) on May 25, 2000 at 10:21:06:
We would need to know some more numbers but here it goes anyways.
You run ad and get someone that wants to l/o it for a year. You collect 3-7% upfront as option consideration from this person (sort of like a down payment…but it is not)…
You then sign 2 separate contracts with them…a lease and a option.
Sale Price $85,000
Monthly rent?? $800
1 year term (they can buy it tomorrow or in 12 months or never…the option money is however non-refundable!).
I have left out lots of “little” important details…but cant teach you how to do it in one posting.
Hope this helps…