Pros/cons private seller of property, no mortgage, idle using a rent-to-buy approach?

[df01]

Am looking for advice, as a private seller, of pros/cons of selling my property using a rent-to-buy approach. All advice appreciated.

 

[Brendan Burgess]

Rent to buy makes very little sense to the seller in any version I have seen.

Have you been offered a rent to buy scheme?

Brendan

 

[df01]

Hi Brendan.

Have been trying to sell a house, with little luck.

A prospective purchaser has indicated that he would be interested if I would accommodate a rent-to-buy approach. The property is lying idle and I thought having a tenant, even if a sale ultimately fell through, would generate some income, now that I am facing a property tax/septic tank charge/water charges.

I don't have a mortgage on the property, and could afford to wait perhaps up to 24 months before finalising a sale contract.

The house is in a rural location, with little prospect of appreciating in value, I would guess, over the next 3 years or so.

Do you think it's worth pursuing the rent-to-buy approach, based on the little info I have provided?

Many Thanks for any assistance.

 

[Dermot]

Could you think about renting the house with an option for the tenant to purchase in 2 years at an agreed price. It is a variation on what you are talking about but a little less complicated. Just a thought.