Before You Rent to Own

What you should do before buying a home on a lease option?

• Get a title report. That should tell the buyer whether the seller can deliver the title when the time comes and what the outstanding liens are. If there are extensive tax or mechanic’s liens on the house, that could be a red flag.
• Get an appraisal. This will ensure that the house is worth the agreed-to price.
• Get an inspection. If the foundation is cracked or the furnace needs replacement, you’ll want to know that before you sign a contract.
• Seek legal help. You should approach it like you are buying a home; a real estate attorney can help you avoid any contract missteps.

From CNN Reports