Rent to own aqIs this a good deal
I have been working with a seller on a property. I offered a lower cash offer and they did not seem interested. I mentioned a rent to own situation with a larger purchased price and they seemed more interested. Here is what I was thinking
135k purchase price (market value)
5,000 option fee applied as credit if exercised
1,200 monthly payment, 400 applied as credit if exercise
7 year term
1,450 is market rent.
Seller pays taxes and insurance.
Property is rent ready.
What are your thoughts? I was thinking about selling on land contact, rent to own, or just rent.