Rent to own agreement "Do's and Don't"

[Vijay Jain]

Hi Members,

I want to know Do's and Don't for Rent to own agreement 

• Any state laws
• Any hidden between the lines.
• How it is beneficial for both parties(buyer and seller).
• Escrow requirement.
• Lender /loan education for renter (future buyer).

I found this article

www.realtor.com/advice/rent/rent-to-own-agreement-...

Any best practice/guideline, I request BP to may be make a blog post on this topic.

-Vijay

[Raul Pelcastre]

@Vijay Jain Rent to own deals are hard to put together in CA.

Your homework:

• Besides SAFE and Dodd Frank, how about the type of note you have? Most notes in CA have  a due on sale clause 
• Where is the house? 100k? is seen in small cities like Fresno, Visalia
• For rent to own transactions you are best hiring a real estate attorney for contracts, real estate transactions are not cookie cut
• Sometimes its easier to do owner financing  
• When screening a potential buyer, you should pull credit and ask for tax returns 

https://www.youtube.com/user/rpelcastre