I cant say how much Rent to Owns have really helped this market. Even if the Lending industry has raised their bar for owning a home, we as real estate agents can help get buyers into homes and sellers out of thiers. Its a good feeling to see people get the home of their dreams. We are doing quite a few Rent ot Own programs here in North West Indiana.
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totally agree it is important to do anything we can to get these people in homes and offer other type of solutions. I am looking into teaming up with some realtors in my area to get this people in homes rent to own and then help work on getting them mortgage qualified in a year or so.
I am seeing an increased number of Articles of Agreement. It used to be that the Buyers could refinance the property at the end of the agreement rather than purchase the property. It was easier to obtain a loan. I wonder if that will be true at then end of these agreements.
I agree that being creative in this market will be beneficial to you as an agent, as well as, your buyers and sellers. If the buyer has poor credit this will give them time to repair it while they build equity in their future purchase. The payment history will also be advantageous in the lenders eyes.