The term “rent-to-own” sounds like a contradiction for good reason. It’s often called upon to reconcile a buyer-seller situation that does not fit a standard mold. A Portland rent-to-own agreement can allow potential buyers to move into a Portland metro area house before their finances are up to snuff (or at least that’s the call most lenders would make). It’s can be a useful contradiction for both parties, because the would-be buyer can get the immediate benefit of living in their choice of home knowing that some portion of the rent paid has the potential of building residential equity, while the seller will either eventually have successfully sold the property or have benefitted from some cash flow should the sale fail to materialize.
If this rent-to-own scenario sounds like a win-win, that’s because it is…that is, unless it isn’t. The reason that rent-to-own is not more popular with Portland area home buyers and sellers is because of some frequently encountered landmines—but a well thought-out arrangement can tackle most of the […]