RentToOwn-HouseFinder.com - Does anyone know of a good website to find LEASE PURCHASE homes?

Does anyone know of a good website to find LEASE PURCHASE homes?

We are looking to find a home, that is either LEASE-PURCHASE, or RENT-TO-OWN. We have been looking for a good site, but so far haven't found any good ones. Do you have any ideas, on sites to look for this? Any help would be appreciated!

Public Comments

I know of no state that has standard contracts for lease purchase or rent to own. Because of that the real estate agents don't normally list houses this way. These will not normally show up on MLS websites or real estate company websites. This type of thing attracts scam artist. You will find they listed on individual web sites. Please be very careful and look into all the details.
I am not aware of websites which specialize in this type of transaction. However, I WILL tell you to use extreme caution in proceeding, since a lot of folks did not get what they expected in such a situation. The most common situation seems to be default on the part of the 'seller'. He takes your rent and additional money, and does not pay the mortgage payment, resulting in a foreclosure. You get NOTHING other than an eviction notice. Should you elect to go forward, insure that your contract allows you to pay your monthly obligation in TWO payments, one made payable to the seller AND to his lender, and the remainder to the seller as the remainder. As well, be sure that the language allows you to pay deficient property taxes out of your monthly payments, should the seller fail to handle that as well. If either the mortgage or taxes or both are not paid, the property could face a foreclosure and you would be 'left out in the cold'. Take heed. As well, take measures to insure that the property is adequately insured, either out of YOUR funds or out of the seller's.
There are a lot of ways to "rent-to-own" and many variables in the purchase as well. DO NOT do this without a LAWYER. In some contracts you must get a mortgage after a certain period of time passes. The inability to do so could cost you everything you have paid in. Not sure why you are not considering purchasing, especially in a buyer's market, but I can tell you I am a single mom of three, worked two jobs, paid off $15,000 in marital debt and in just 8 years of doing so bought my own home 9 years ago. You can do it too. Good Luck!
If you are looking in Melbourne, Hobart, Victoria or Tasmania in Australia, you can try Rent To Own Your Home at http://www.renttoownyourhome.com.au Rent To Own or Leashe Purchase is a perfectly legal form of becoming a home owner. In Australia, it is even an option on the Governments Census form that asks about your living conditions.. ie. Renting, Paying off a mortgage, Own your home outright, or Purchasing on a 'Rent To own'. They ARE advertised on Real Estate Agent websites, in fact sometimes we have our local Real Estate Agents sell our homes for us in this manner. It is not a common thing by any means and many real estate agents struggle to comprehend anything outside the box, but they are out there. The rest of the advice is certainly fair - obtaing your own legal advice - this is exactly what the seller should advise you too. Cheers Sheree Rent To Own Your Home http://www.renttoownyourhome.com.au