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Option to Purchase Addendum to Residential Lease Lease or Rent to Own Michigan Form

Option to Purchase Addendum to Residential Lease Lease or Rent to Own Michigan Form

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So today we're going to talk about renting to own and a couple things to watch out for so as a lender I see these go sideways all the time I mean personally would I enter into a rent to own agreement no no I wouldn't and here's why so a lot of times the way it gets presented to you is ah hey your credit's not good enough right now but like if you rent the house then you can rent to own it and like your payments will go towards your down payment you know it sounds really good it sounds like you're going to become a homeowner you just have to you know rent and do your time there's so many ways this can go wrong okay now the first thing is let's pretend it's a legitimate seller because that's the thing you have to watch out for as well there are people who try to defraud other people by doing rent to own scams so that's something to watch out but let's say it's a legit because there are compani

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