Home Sellers - How Rent to Own Benefits You

Here are some of the reasons rent-to-own can be beneficial for you as a home seller:

1. Higher Purchase Price - Rent to own sales typically command a price premium over traditional sales. The buyer is paying extra for the flexibility he receives by not having to do an outright purchase immediately.

2. Higher Rent - You may be able to charge more for monthly rent in a rent to own than you would for just a straight rental.

3. Cash Flow - If your monthly payments are less than the monthly rent, the difference goes in your pocket.

4. Option Fee - This upfront fee paid to you by your buyer is what secures the purchase price down the road. If the buyer closes on the home, it would be applied towards the purchase price. If the buyer elects to not purchase the home, the option fee is forfeited and still remains yours. Either way you win.

5. Eliminates the Burden of the Mortgage Payment - If you have already moved on to your next home and your old house is sitting empty while you try to sell it, then you are saddled with TWO mortgage payments. I feel your pain. Ouch! Placing a rent to own buyer that pays that extra mortgage can take away your pain.

6. Getting Your Home Sold Faster - In slow selling markets offering your home as a rent to own can help you get a buyer into the house much faster. This option will open up your pool of buyers significantly.

7. Getting Your Home Sold at All - If your home is just flat out not selling for whatever reason, offering it as a rent to own may be the only way to get it sold.

Want to learn more about selling your home as a rent to own? See Wendy Patton’s book, Rent to Sell, Your Hands on Guide to Sell Your Home When Buyers Are Scarce.