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Here’s how it works: customer pays an up-front down payment, then pays two years of rent, then either buys the house at full price, or the company keeps the up
by jl2718 5y ago
Here’s how it works:
customer pays an up-front down payment, then pays two years of rent, then either buys the house at full price, or the company keeps the up-front payment, kicks them out, and sells to the highest bidder.
Sorry; I’m calling this one for ‘likely scam’. The reason is the same reason ‘rent-to-own’ is always a scam: price has no memory. Those past rent payments have zero value against a competing bid. Neither does this up-front down-payment, which makes this extra scammy.
- lotsofpulp 5y agoThat is not a normal use of the term “down payment”. A deposit is a better word for it. If it can be used towards the purchase price, then maybe even earnest money.