There are really 2 major groups to consider and 3 major sections when trying to find Rent-To-Own homes available for sale on CraigsList. I will give you a short list and then go into a little bit of detail on each one.
First, the two major groups:
- Properties that have said they would consider a Rent-To-Own, and
- Properties that have not given any indication they would ever consider a Rent-To-Own buyer
Some people think that only the properties that say they would consider a Rent-To-Own (which is the generic way of saying a Lease-Option or Lease-Purchase) is to contact the very limited number of properties that have outright said that they would consider it. This is a huge mistake. My personal experience and the experience of a lot of other people I’ve come into contact with clearly shows that a larger-than-you-might-imagine number of traditional sellers that have given no indication whatsoever that they would ever consider renting or leasing the property to you while you prepare to buy it would actually allow you to Rent-To-Own. You will need to ask though (see How To Ask A Seller To Rent-To-Own).
Now, the three major sections to find Rent-To-Own homes:
- Real Estate For Sale (By Broker)
- Real Estate For Sale (By Owner)
- Apts/Housing For Rent
If you choose to search through the “Real Estate For Sale (By Broker)” section you’ll be dealing primarily with real estate agents. Some real estate agents are pro Rent-To-Own. Many are not. See How To Ask A Real Estate Agent About A Rent-To-Own Home. It is much easier to focus on properties that have designated that they would consider a Rent-To-Own especially when working through an agent, but you will find that there are a lot of sellers that would otherwise be good candidates if you’re willing to do the extra work of talking to agents to find the ones that will consider a creative transaction.
When inquiring within the “Real Estate For Sale (By Owner)” section, you’ll find yourself usually talking directly to the seller which makes talking to ones that have said they’d consider a Rent-To-Own and ones that have not said they would consider a Rent-To-Own a much more direct process when compared to asking an agent to find out if their seller would consider something flexible.
And finally, asking a landlord (someone who is renting their home) if they’d consider selling is often a higher probability conversation than trying to ask someone looking to sell their home if they’d consider renting for a period first. This higher probability makes contacting landlords advertising their property in the for rent section one of the most popular and easiest places to look for Rent-To-Own homes.
In summary, you can contact sellers and landlords that have said they would consider a Rent-To-Own, Lease-Option or Lease-Purchase as well as those that have given no indication at all that they would and significantly increase the number of homes to consider buying. Plus, make sure you are looking in both the for sale sections (by agent and by owner) as well as the for rent sections. All three have potential homes for you to consider buying.