Rent-to-Own Homes: How the Process Works. Story by Carrie Pallardy ... Instead, they enter into an agreement with a property owner to purchase the home at the end of a lease term.

How the contract works: lease option vs. lease purchase agreements. However, if you are lucky enough to land on one of these agreements, it’s important to understand how the contract will work.

Key Takeaways: Rent-to-own deals let a buyer rent the home for a time before committing to the purchase. Whether the deal is a lease option or lease purchase agreement affects the level of commitment.

In a Lease Purchase agreement, there are many decisions that need to be made in advance, and your real estate attorney is the best person to review these decisions with you. Make sure you do this ...

Rent-to-own homes allow individuals to lease a property with the option to purchase it before the lease expires. Rent-to-own agreements allow renters to build up their credit before buying.

A rent-to-own agreement is an alternative way to buy a home without an upfront down payment, but the process can be complicated and you'll want to take extra precautions.