Should you use a lease/purchase (rent to own) approach to sell/rent your home?
Have you ever dealt with bad renters? Late payments? Stains on the carpet? Calls late at night about a stopped toilet? Sometimes being a Landlord is not a fun game, especially when you have a nice home and bad tenants.
Have you taken advantage of the recent low interest rates and refinanced your home to the maximum? What about a home equity loan or other form of second mortgage? Do you know how much you can walk away with from the closing table after paying all mortgages and associated costs, like realtor fees? Many people walk away with very little or nothing. Some even have to pay. If this scenario applies to you, it may make sense to delay the sale of your home. It may be possible to generate positive cash flow and lock in a higher selling price with a FSBO (for sale by owner) lease/purchase agreement.
Here’s another scenario: You want to sell your own home, but it’s not moving as fast as you would like (or as fast as the “fast-talking” realtor who convinced you to list it). You’ve thought about renting it to cover your mortgage payment, but...
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