Most sellers bought their homes with a mortgage and they may be hoping to sell their homes to someone who is going to get a mortgage because that is the way they are familiar with. However, some sellers may be more flexible because of the market or if they don't need to cash out on their properties very soon.

It doesn't hurt to ask even if they did not advertise rent to own. If you are willing to pay higher rent to cover their current mortgage payments and possibly a higher price in the future, the seller may be happy to work out a deal. Try calling some of the (for rent) landlords and see if they like to receive Payments instead of Rent.

In a rent to own, lease-purchase, your option $$ to purchase is non-refundable if you can not or do not want to purchase when the lease ends or option expires. Make sure to talk to a mortgage broker first. Even though you may not qualify for the loan now but you will find out the guidelines and see how you can qualify within a year or two. Also, document and make sure that your payments are made to an third party escrow company so that it will apply to the landlord's mortgage.

Have an attorney to review your lease / option paperwork too.

Good luck!
Celine

PS. If you are looking to purchase a home now but can not get conventional mortgage, we sell homes with private financing. Low Down, Low credit.

Keep an eye on the classifieds. On occasion, a seller may advertise a rent-to-own. Choose a REALTOR and ask if they can assist you. They can keep an eye on the MLS message boards for you and advise you. There will uasually be certain requirements in a lease/purchase contract and rent-to-owns can be tricky. Get assistance. Try not to go it alone with a landlord.

your best option is to contact a local agent who can locate such properties for you through the MLS. You can also check the local classifieds or sites such as Craigslist.