

5,546,993
Just had that happen with one of my clients. They had a tax issue that needed several months to clear up and then they could purchase their new construction home. The problem is that these companies buy the property, lease it for 1-6 months and then sell it for a 5% minimum upcharge. Business-savvy? Maybe but, what our issue was that the home didn't appraise a couple of months later at the 5% increase.
On the flip-side, you can only imagine that re-sellers are not going to get full price for their sale to one of these companies. The companies are going to hit them with low-ball Offers.
So, I can't recommend them as I don't know anyone who has had a glowing experience with them!
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Michael Jacobs
Pasadena, CA
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John Pusa
Glendale, CA
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Lyn Sims
Schaumburg, IL
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Damon Botticelli
Las Vegas, NV
5,774,106
Damon,
Debe Maxwell illustrated the problem beautifully. I would not do that!
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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John Pusa
Glendale, CA
5,201,148
I haven't and don't know anyone who has. I would be pretty leery myself about the risk
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Nina Hollander, Broker
Charlotte, NC
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John Pusa
Glendale, CA
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Ron and Alexandra Seigel
Carpinteria, CA
936,418
No, and I wonder never suggest a buyer use one. Any buyer considering using one should consult an attorney.
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Nina Hollander, Broker
Charlotte, NC
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John Pusa
Glendale, CA
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Ron and Alexandra Seigel
Carpinteria, CA
1,657,502
No, I did not use them or did any lease back. It is not popular in my hood.
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Nina Hollander, Broker
Charlotte, NC
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John Pusa
Glendale, CA
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Ron and Alexandra Seigel
Carpinteria, CA
1,875,058
Nope have no idea who they are.
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Nina Hollander, Broker
Charlotte, NC
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John Pusa
Glendale, CA
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Ron and Alexandra Seigel
Carpinteria, CA
1,713,581
Never have and never will.
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Nina Hollander, Broker
Charlotte, NC
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John Pusa
Glendale, CA
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Ron and Alexandra Seigel
Carpinteria, CA
1,231,903
Most of them border on illegal at least here in Pennsylvania
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John Pusa
Glendale, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Mary Yonkers
Erie, PA
5,386,075
No experience with anything like this.
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John Pusa
Glendale, CA
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Nina Hollander, Broker
Charlotte, NC
3,988,144
I have a client I sell properties to, that does this very thing. It is a numbers game and if they buy right they come out on the good side. I know they aim for a $40,000 spread from what they pay and what the selling price is on lease to own.
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Damon Botticelli
Las Vegas, NV
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Nina Hollander, Broker
Charlotte, NC
2,362,586
Yes, I have used them successfully for clients. Don't ever use a company that doesn't give a 2-year lease/option, with no penalty for early closing.
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Damon Botticelli
Las Vegas, NV
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Nina Hollander, Broker
Charlotte, NC
321,664
I have worked with one recently. For some clients it's a win - win. They can lease (in TX) up to 3 years at a predetermined price to purchase. Yes, it will cost them more money, but rent is also high.
When the client decides to purchase they already know the price and can set themselves up. This is good if it's the only way for them to get in a neighborhood /school area they desire.
If they choose to move they can without ruining their credit. As long as they keep within the guidelines of lease.
When they get ready to purchase the home if the values are down this will cause an issue for the buyer. The need to be educated.
I could go on.. There are good points & bad points.
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Damon Botticelli
Las Vegas, NV
5,176,065
4,789,539
I have not. Debe Maxwell brings up a very good point.
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Debe Maxwell, CRS
Charlotte, NC
1,014,038
4,322,295
Damon Botticelli - nothing of that sort, yet!
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Nina Hollander, Broker
Charlotte, NC
3,986,529
Never, not a good deal for my clients.
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Nina Hollander, Broker
Charlotte, NC
2,448,781
1,269,043
Not popular there. No sucker will sign up as sellers they expect steep increase further....
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Nina Hollander, Broker
Charlotte, NC
4,413,570
Damon Botticelli I have not, but they contacted me about the service.
I will not recommend the rent to own service to any client.
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Nina Hollander, Broker
Charlotte, NC
3,764,441
1,545,944
929,555
5,585,039
5,555,969
No experience with them, but suspect they buy at a discount, sell at a premium, and charge above market rent!
1,758,737
1,618,024
232,119
3,074,716
3,417,356
4,434,277
6,764,485
Sounds like a risky business model, most rent to own candidates fail to follow through and eventually leave what is left of the home to the previous owner who really does not want it back.
1,525,616
97,916
I am a stager, not a Realtor, so have no opinion on the question, but it looks like a very large majority do not consider it a viable approach. This is worthy of careful attention. You might wish to print out all these comments and provide them to the prospect you mentioned, so they can see the honest opinions of those in the business. It will help them make their own choice, instead of blaming you later for giving them "bad advice" (in case your recommendation doesn't work out well).