Dear Realtor: "I have been offered a position with a local school district in your area and need to find a place to stay with my 60 goats, dogs, cats and, oh yes, my kids (there are two of those). Because this has happened so quickly, I am not in the position to buy since I have my own place that I need to get put together to sell.
Perhaps you may know of other options out there that could meet our needs. I am currently paying my mortgage up here but, with some understanding, could possibly tackle a Contract for Deed or a Rent to Own.
Please let me know if you can help"
Realtors get some strange requests from time to time. Somewhat amusing but at the same time 
unbelievable, is the notion that Rent to Own is really an option sellers consider. Come on Buyers... where in the world does this come from, you must be joking? Let's get serious for a minute. Why would 
any private Seller agree to a Rent to Own to the buyer above? Most Sellers have mortgages to pay off and need the funds out of their home to pay for the new home. Many Sellers are not financially equipped to be the bank by offering a land contract or an option lease. This is simply not a common situation in my market. I have been asked many times about Rent to Own; I just know I have yet to meet a seller who would ever agree to such an arrangement.
Generally it is the investor is who will Rent to Own. Given the risk, it means there's likely to be a pretty good buck turned and less than ideal digs offered in these deals. Perhaps it's just my experience, but with about 20 years behind me selling real estate, I have not listed one rent to own home. I have not seen this come up in any continuing-ed courses I have taken, none of my past brokers I ever worked for ever took this type of listing and I haven't seen any NAR sponsored training or designations offered if you want to excel in this type of business transaction. Do you think; maybe, just maybe, it's not Mainstream? So why do buyers ask? Because the ones who do don't have the necessary money, possibly don't have good credit, might have too many potentially smelly pets (like the one above), or are just desperate. Sorry I don't specialize in Rent to Own; I would bet my E&O wouldn't cover it either.
Are you searching for homes to buy in Viroqua or Vernon County Wisconsin
call Mary Strang therteam.com RE/MAX Hill Country Realty 608-637-3599
Rent to own is something the public loves to hit FSBO's with. I hate getting rent to own phone calls because I have mixed feelings. I want to be nice because I'm a nice person but I also want to say, "Get real! I'm busy."
Barbara: Needing space on your property for 60 goats is 60 reason for the seller to not give Rent to Own a second thought! I agree, these type of calls are time wasters.
Hi Mary I have never done a rent to own either and have been in the business for 22 years. I certainly would never imagine a seller wanting a tenant like this either :)
Bill that is so right, I would like to know if any Realtors do Rent to Own, that are not investors first? I would bet very few possibly none.
Oh Mary, It makes you wonder if the client has actually thought this through before calling you. I guess I answered my own question. 60 goats, yikes!