Rent to Own Homes - Be Sure to Review the Paperwork Carefully

(My Original Blog Post: http://ping.fm/GR9sd)
The arrangement in which property owners offer prospective house buyers access to the so called 'rent to own' homes arrangement is proving to a popular one, at a time when the real estate market is going through a rough stretch. The way the arrangement works is really quite simple to grasp. The prospective house buyer gets into an agreement with the house owner to rent the house for a given period time (hence effectively getting into a lease), under prior agreement that at the end of the lease period, when the when the house seller puts it up for sale, it is they, the prospective buyers who have been renting the property, who will get the opportunity to purchase it.