All Forum Posts by: Joe Tenenbaum

thanks.  all good points.  rent would be on the high end of what is normal around here.  Apparently the buyer is expecting some type of financial windfall in 16 months according to my real estate agent.  I think the rent would be rent only and I would not plan on having any of it go toward principal.  I would imagine that if they can't get financing they wouldn't be able to exercise the purchase option, but good idea to have a real estate attorney review it. 

I have been trying to sell my rental condo and have been proposed a rent to own arrangement.  The tenant/buyer would put down a non refundable deposit of about 20K and then rent the condo for 16 months and then have the option to exercise the purchase of the property or forfeit the 20K deposit.  Just wondering if anyone has experience with this type of deal.  Thanks.