Seller Finance vs. Rent To Own - Posted by Arthur Montano
Posted by Arthur Montano on March 21, 2001 at 11:42:10:
Hi everyone. I have a small problem that I know you all can help me with. I have a house that I’m having a problem selling. Here’s the scoop- 1988, 4/2/2 car, ch/a, 1800 sq. ft. security system, large inground pool (clean) w/ screen enclosure, all electric w/ appliances. Roof in good shape w/ standard size lot for area (80x175) in fast growing area. Maybe thats the problem, the houses around here are being mass produced in the $80’s and $90’s for 3/2’s with no pool. Anyway, the house needs carpet and paint inside. Out side ok. Last occupants had cats and it smells it.
Asking $109900 with a $2500 discount if they put take care of the carpet and paint. $7,500 dn. I figure that way they could install what they like and the colors they like. I’ve showed this house about 25 times and have made two paymnts of $812 ( privious owner would not catch up back payment and was ready to give it back to the bank). Still people want it but no one returns back with a deposit.
If I can’t sell it within several weeks I need to explore the possibility of Rent To Own. Can anyone give a brief synopsis of what the difference between Rent To Own and Lease Option? Thanks, Art Hope to see you all In Atlanta>