Unless the terms are very favorable to the renter (fair market value future price, low deposit, an amount of the rent going towards principle which implies a fair interest rate), they are a terrible idea. And a seller will almost never agree to those terms.
In my opinion they're a form of predatory lending when the buyer can't get traditional financing.
They're basically a call option on housing that usually end up having too high of a strike price and too high of an effective interest rate.
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Isn't the idea an accumulation of the downpayment of the house or more often the condo over the 36 months or more, so isn't it usually rent plus agreed upon downpayment/months of the agreement.
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Do they not also traditionally have an up front deposit that is forfeited if the buyer/renter doesn't end up buying the house. That's the part that makes it expensive.