The Continuum Price
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Rent to buy properties is an option to rent a property before actually possessing it. Buying a property involves lot of money and once bought it cannot be undone with much financial outlay. So, it is advised to be cautious before buying any real estate, else, adopt rent to buy properties scheme as it gives you an idea about the property before actually purchasing it.
The rent to buy properties scheme is very simple. A down payment is made while entering into a contract and subsequent monthly rents are paid keeping in mind the value of the property. As per the contract, the renter pays the balance money and claims the property once the given time is over. In case the renter does not clear the balance within the deadline specified he tends to lose all the previous payments he has made, including the down payment which is not refundable.
Rent to buy properties have benefited many people. It is also convenient The Continuum Price for individuals with bad credit ratings. The renter can use the time to recover from bad credits and thereby become eligible for a loan. There are situations where the owner of the property offers loan to the renter for the down payment, which can be repaid in monthly installments.