I have a house that I recently renovated and am trying to sell. After a couple months on the market and no offers, I’ve been approached by someone who wants to buy, but needs to lease for 6-12 months while she builds up her credit (recently divorced and no credit in her name).
How do these usually work? What % of rent typically goes toward the purchase price and do you get a downpayment up front?
How would I structure this? I don’t see being able to put any of her rent toward purchase price…in fact, I will probably have to supplement the mortgage payment.
Does anyone have a Lease to Purchase contract you could email me? THANKS!!