Cherry Hill | Camden County | New Jersey | Rent to Own

I just received a comment on my previous blog entry regarding Rent to Own transactions. The question that was asked was whether or not real estate agents are required to be educated about rent to own transactions. I thought that this was a great question, and unfortunately most agents are not educated about these transactions. Actually, most agents don't want anything to do with these types of transactions because they believe that they have to delay their commission check. This really is too bad because as I had mentioned in my earlier post, often Rent to Own is a great way for someone who has a blip on their credit to get back into home ownership sooner rather than later.

Because most agents won't handle these transactions, many-would be tenant/buyers end up working directly with companies that only rent to own. This is great when the company is legitimate and isn't out to take advantage of unknowing tenant/buyers, but when it is a less reputable company, there are often many negative repercussions. If you are considering a Rent to Own transaction I would suggest that you seek out an agent who is knowledgeable and will look out for your best interests in this transactions. At the very least do a little research on the company renting/selling the home, and as always have your attorney review the contracts.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com