City Life

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Costco's bold new plan for the California housing crisis (archive.ph)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 4 months ago (2 children)

Haven't done any research and I'm mostly just curious about your thoughts -- would the situation be different the implementation of these were rent to own?

[–] [email protected] 2 points 4 months ago

I think that as long as there is a Lease Option written into the contract that legally forces the owner to sell (or if it's a lease-purchase), and as long as there is some guarantee on the down payment amount if the seller breaks the contract, I'm mostly fine with Rent-to-Own. But R2O contracts are something you probably want a lawyer to double-check, because there are ways you can get screwed as the buyer (like if you lose your job prior to sale, and it's a Lease Purchase, they might charge you a LOT of money to break the contract).

[–] [email protected] 1 points 4 months ago (1 children)

You mean like a mortgage?

[–] [email protected] 1 points 4 months ago

R20 is technically different from a mortgage but I get what you mean