How does a legitamate rent to own contract work? Can this be done through seller and "buyer" real estate agents? Thinking about doing this and want to know others advice on the pros and cons of this. I want the current owners of the house to rent to us first bc we just went through a foreclosure a year ago, but they want to only sell. Wondering if anyone can let me know any benefit of doing this for seller and buyer? Any advice on how to go about asking/convincing a seller to consider this option to selling their home?

Most seller's are not interested in renting their property. If they were, they wouldn't have it listed for sale. Unless it's been listed a long time or the seller's in a must sell situation, there's no motivation for them to do it.

It is not a simple yes or no answer, there has to be financial benefits for the seller to be willing to rent the house to you today and collect his money/profit in 5 to 7 years when you actually qualify for a home loan unless you are looking to purchase the property cash. if the property is located in California, we may be able to help you with some additional information. feel free to contact my office via email Houtan.Hormozian@Crestico.com or call 310-933-4748

This could end up being very costly for you. You will be better served by renting for the three year waiting period you have after a foreclosure. If you do this be sure to have a real estate attorney review all the documents.Happy funding, Rudi