Hello Beyond,
Has anyone ever sold a property on a rent to own basis?
My understanding of the basics from some online reading is that I would raise the rent on the property on a monthly basis and the additional amount would go toward the renters down payment towards my place. The purchase price would be pre-determined, and the monthly payment increase and term of lease would be based off of this value.
I would consult with a lawyer prior to drafting/signing any agreements, however, looking for some feedback from those who may have gone through the process? Open to both pros and cons to weigh out if this is something I would want to consider.
Thanks in advance!