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  #21  
Old 04/03/08, 12:54 AM
 
Join Date: Aug 2002
Posts: 371
There is one house here (probably more) that is for sale rent to own. The landlord/owner is asking for two months' rent up front and a six month lease. If, at the end of the six months, you want to buy the house, you can, or you can continue to rent. He uses the seven months of rent (6 for the lease plus the extra at the beginning) as your down payment and everything after that is considered your house payment. Sounds like a good arrangement with a way out if you change your mind.
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  #22  
Old 04/03/08, 08:01 AM
 
Join Date: Jan 2008
Location: MN
Posts: 1,881
Every state has different real estate laws and quirks to those laws. Make sure you have your own attorney review the paperwork and tell you the pros and cons of doing owner financing. I would close at a title company and get an owner's title insurance police.
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