If you’re struggling either to sell a house or to qualify for a home mortgage, a lease-option or rent-to-own deal may sound tempting, reports MSN Real Estate
. In theory, both sides win. The seller gets a series of cash payments and the buyer immediately moves into his dream home, while gaining time to improve his credit score.
But before you consider a lease-option or rent-to-own agreement, make sure you understand the possible pitfalls. One misstep and your dream of homeownership could go up in smoke.
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