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Rainmaker
1,413,504
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No.  I don't think that will ever be a thing out here and it's just not something I've ever seen in 30+ years.

Jan 25, 2022 09:56 AM
Ambassador
3,351,747
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Highly doubtful with how brisk our market is currently.   I did have gal talk to me about it and I asked her where she heard about it.  She said an agent was advertising regarding 'rent to own'.  So I suggested she contact that agent directly.  Personally I do not want to be part of those contracts unless an attorney writes the contract.  I have heard horror stories over the years on how the seller uses certain verbiage whereas the buyer forfeits their payments thus far etc upon certain situations. It can be fraught with legal liability.

Jan 25, 2022 10:41 AM
Rainmaker
552,908
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Recently I have been getting calls for rent to own, however, that does not seem to be real popular here.  Far and few between.

Jan 25, 2022 09:49 AM
Rainmaker
1,748,888
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Well, I say from a buyers perspective it's a rip off. Of course, we all know Yahoo Finance articles as being the cutting edge ... 🤪

Jan 25, 2022 11:27 AM
Ambassador
3,119,689
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

It is not new. It has been around for as long as I have been in the business (19 years and counting) and likely even before. I had a client that wanted to go that route ... thankfully they listen to me and they were able to buy a home with my help. 

Jan 25, 2022 10:46 AM
Rainmaker
976,987
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Rent To Own favors the seller. 

Qualified buyers buy when they are ready to buy. They do not enter an agreement wherein the will pay to purchase at a future price and pay more monthly for that privilege.

Rent To Own has been around for many years. I do not think it will ever be a large part of the market.

Jan 25, 2022 01:48 PM
Rainmaker
1,022,828
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Very rarely see it Gary Frimann, CRS, GRI, SRES 

Jan 25, 2022 10:49 AM
Rainmaker
4,416,680
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

These programs are everywhere if you are willing to search for them. In was a huge scam in the housing crisis so I do not favor it under any circumstances. some got rich, but few went to jail.

Jan 26, 2022 04:32 AM
Ambassador
5,613,481
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Not likely, this idea crops up from time to time, attractive to both sellers and buyers.  Unfortunately it does not last as buyers who do not qualify for a loan generally do not qualify as renters either.

Jan 25, 2022 06:03 PM
Ambassador
1,831,914
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I don't think it will be a thing again while the markets are hot. When the market cools down and it becomes a buyers market... maybe.

Jan 25, 2022 01:58 PM
Rainmaker
1,320,330
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

It's been here for 35 years (and then some) and never, ever utilized. I did in fact rent to own in 1989 - it's how I bought my first house.

Jan 25, 2022 11:59 AM
Rainmaker
2,669,213
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Rent to own is not even in play and if you can find someone that will accommodate, consider yourself a lotto winner! Interesting to note: 1/3 of America is retiring and wealth is shifting. Statistics tell you that that seller is out there. Trying to find them is not a waste of time. You may get lucky

Jan 25, 2022 11:58 AM
Rainmaker
4,194,829
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I can not say that I heard of them yet.

 

Jan 25, 2022 10:58 AM
Rainmaker
908,513
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I am seeing on-line ads for rent-to-own but based on today's market condition I am confident these are predators/scams attempting to trap the naive.
When the small investor gets back into the game, I expect to see more, However the small investor is simply not competitive against the generous institutional and ibuyers.

Jan 25, 2022 10:56 AM
Rainmaker
924,070
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Those are simply renters . . . and I do not work with them.

Jan 26, 2022 04:56 AM
Rainmaker
6,858,268
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Nope.

Jan 26, 2022 04:33 AM
Rainmaker
675,935
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Rent to own and lease option are something I've only heard of from those hoping to rent the property.  Only the buyer benefits as they can back out if prices go down and buy if prices go up.

Jan 25, 2022 10:39 PM
Ambassador
4,683,610
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I doubt it. I can't see it being a viable option in this market, and perhaps for some time. There are plenty of risks. 

Jan 25, 2022 07:54 PM
Rainmaker
784,606
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Interesting. From my experience, rent-to-own usually benefits the seller much more than it does the buyer. Buyers lose out if they're never able to buy the property. In this situation, it looks like the seller is holding the buyer hostage and trying to make more money on the property. It might close but will it hurt the buyer in the long run?

Jan 26, 2022 10:59 AM
Rainmaker
5,164,945
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It didn't work way back when, and most likely work now either.  Either rent, or buy.

Jan 25, 2022 04:53 PM
Ambassador
2,717,703
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

There hasn't been a lot of demand in that area of sales (renting). I have only done one and it turned into quite a cluster. There was mold found on a basement wall behind a bed, the buyer freaked, called a mold remediation company who said it would cost $5000. All it took was to change the direction of a lawn sprinkler, seal the wall, all of $100.

Jan 26, 2022 08:39 AM
Rainer
240,336
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

I have seen a few situations where rent to own was something a developer was offering and from time to time I am asked about them. Overall it's extremely rare in Manhattan.

Feb 04, 2022 08:59 PM
Rainer
151,723
Anthony Kirlew
Group 46:10 Network @ eXp Realty - Gilbert, AZ
Helping You Make Fiscally Sound Choices

I foresee a lot of people not going through with their purchases if the market drops and prices are based on today's prices.

Jan 29, 2022 02:41 PM
Rainmaker
1,542,234
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Nonsense, no signs of that. Prices are still going up, the inventory is still catastrophically low. 

Jan 27, 2022 12:58 PM