Rent-to-Own: Too Good to be True?
Texas lease-options, or “rent-to-own” contracts in layman’s terms, are often looked at as a simple solution to a common problem, but prospective tenants/buyers too often pursue lease-options without understanding what they are signing up for. In its simplest form, a lease-option is a standard lease of real property coupled with an option to purchase the property at a later time and under specific terms and circumstances. In theory, this presents an extremely attractive opportunity to prospective homeowners that desire to purchase a home and require immediate housing, but otherwise are not in a position to immediately purchase the home for one reason or another. So, why fear lease-options? (Click here to read further)