Rent to Own – Common Questions
Typical costs incurred for the process are:
- Home Inspection – you want to make sure the property has good bones! Allow $ 500
- ILA – Independent Legal Advice. Before you start a Rent to own program, we want your lawyer to review the agreements. Allow $ 400
Rent to Own payment are in advance. This means your first payment will be due on closing day. You need to budget for this.
If the issue is related to an unexpected life event during the lease but you have made your lease payments on time, we can extend the lease until you get by the life event and get back on track.
If you have missed payments or have failed to follow the Credit Management, you are at risk to lose your Down Payment and accumulated Option Credits.