Saturday, 9 February 2013

Rent-to-Own vs Lease Option

Q: What is the difference between rent-to-own, rent-to-buy, lease option?

A: No difference! They all achieve the same thing --- allowing people to try out a home before committing to buy. A rent to own is a rent to buy and it is also a lease option. Lease option is the legal term for the paperwork system system used to buy properties under a rent-to-buy. Lease means to rent and option is the chance/opportunity to buy a property at a later date. In this way, you have the chance (option) to buy the property while renting but you are not forced to buy it.

No comments:

Post a Comment