No Equity? No Problem. Sell, "Rent-to-Own" Even If You Owe More Than Its Worth.

Many people think you need to have equity in order to sell your home, "Rent-to-Own".
 
The truth is that you do not need any equity.

Here is are the following reasons:

• Most often than not, Tenant-Buyers are interested in getting some of the benefits that come along with home ownership without the hassle of qualifying for a bank loan today. 

• You are not going to be hiring a Realtor, so you do not need to pay any 6% in commissions or fees from your equity.

• Selling on terms, and not for cash today

   
Because of these reasons, you do not need any equity when you sell "Rent-to-Own". In 

fact, you may even be "under water" a little bit when it comes to owing more on the 

mortgage than the home is even worth. Not to worry, because the solution to this challenge 

is to extend out the lease term even longer. Generally, lease terms are 1-3 years, if you 

owe more on the home than it's worth, just extend out the lease term to be longer, allowing 

the market to correct itself.

Admittedly, markets will not always, "correct" in your favor, but it could. The truth is that 

neither you or the buyer has any control over the market regarding your home's market 

value when you sell your home, "Rent to Own" (A.K.A Lease with the Option to buy). You 

and the your buyer will both be making the best "educated" guesstimate as to what 

direction the market will turn towards. Sites such as HousingPredictor.com can assist you in 

making this educated decision, remember, the market itself has the the final word on this 

matter, not you nor "end" tenant-buyer. 

The truth is, most home owners would rather sell their home out right and get paid cash

today, compared to selling their home, "Rent to Own". If a home owner doesn't have any 

equity though, and they need "mortgage relief" meaning, they have to:

• Find a way to have their mortgage paid each month due to a death in the family

• Find a way to avoid becoming a landlord

• Move out of state to take a new job

• Find a way to get their home sold, because selling, "For Sale By Owner" is not working, so...

...selling, "Rent to Own" can be a wonderful option that will give them the relief they are 

looking for.

When structured correctly, would-be landlords, no longer have to landlord and can create a 

"hands-free" rental property with the potential upside of selling in a few years compared to 

having to fix leaky roofs and sinks. Not enjoyable. 

 

As a matter of fact, you and the home owner, can receive a non-refundable security deposit 

2-3 times the normal amount right from the start. This security deposit is also commonly 

known as an "Option fee". This way, if the tenant-buyer decides they are not going to buy 

your home for whatever reason, you get to keep the Option fee, you then get the house 

back, and you can easily place it back on the market again and get get another 

non-refundable Option fee from a another tenant-buyer.

Straightforward.

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