Before you sign the agreement you should make sure that everything is put down in writing, including all terms and conditions. This document will be used as a reference for both the seller and the buyer throughout the buy-to-rent period.
Here are some of the items that you should consider before signing the document :
~ Who is going to be responsible for paying the home insurance, government tax, and other costs
~ Amount of rent that is due monthly
~ Period that you are going to pay for rent before becoming eligible
~ Interest rate on the purchasing price
~ Amount of down payment
make sure as a buyer you have made proper research on the seller and the landlord, doing research will help you gain confidence and reduces the risk of defrauding. in conclusion, rent to buy is a great option for you with a dream of owning a home but doesn’t have funds for the down payment. Also, it helps you to take time to make your final decision.
