Boston area · Rent-to-own · Home purchase questions
Considering a Boston-area apartment or home with a purchase option? Start with the address, the proposed lease and the written purchase terms. Rent-to-own is not an automatic path to ownership, and this page does not promise an available rent-to-own program.
Talk with our Boston team
This inquiry goes to Amo Realty - Boston City Properties. It is not an offer, property reservation, membership approval or loan approval.
Ask our Amo Realty - Boston City Properties team about the property and any purchase option being offered. An ordinary rental listing does not mean the owner will sell, and a seller offering terms does not establish that the agreement or financing is suitable for you.
This guide is not a live list of available homes. Ask about the status and terms of the specific property you are considering.
Before signing or paying
Get the complete proposed documents before signing or paying an option fee. Ask a Massachusetts real estate attorney whether the contract gives you a choice to buy or obligates you to buy, when the right expires, how you must exercise it and what happens if you cannot complete the purchase. Do not assume you can simply walk away without consequences.
Ask whether the purchase price is fixed or calculated later. Have the documents identify every deposit or option fee, whether it is refundable, and the amount of each payment that would count toward a purchase. Ask where any credited money is held, how it is recorded and what happens after a missed payment or a decision not to buy. Do not assume an escrow account is required or that all rent becomes equity.
Review the rent, lease length, occupancy terms, deposits and other charges. Ask who pays for repairs, maintenance, taxes and insurance while you occupy the home, and have your attorney check the proposed terms. Compare the total monthly cost with a conventional rental, not just the advertised rent.
Have your attorney check the seller’s ownership and relevant property records. Arrange appropriate inspections and get any promised repairs and deadlines in writing. The Federal Trade Commission warns about rent-to-own deals involving unpaid property taxes, property-condition problems, unfulfilled repairs or foreclosure. An offer to rent to own is not proof that the seller can deliver the home.
Talk with a lender before committing. Discuss the financing you may need at purchase, the documents required and how any proposed credits would be treated. Neither future mortgage approval nor an increase in the home’s value is guaranteed. Compare buying later through a conventional purchase with the proposed arrangement.
Keep the signed documents, payment receipts and a separate record of any credited amounts and agreed work. Ask your attorney what happens if the seller does not perform, the option expires or the purchase does not close. Ask your tax adviser about your own circumstances rather than assuming rent-to-own creates tax savings.
The next conversation
Tell our team what the owner is offering and what you want to accomplish. Have your attorney review the agreement and your lender review financing before you commit. This inquiry is not an application for a rent-to-own program.
Send the address or listing link and tell our team about your budget and timing.