Tomorrow, I'm signing the contract for our rent to own home. We are paying $4,000 down and $470 a month for 72 months. What should I make sure is included in the contract to confirm that when I'm done paying down the rent, the home is ours?
The best rule of thumb is to read the contract thoroughly and make sure it says this clearly to you. If it does not say it in language you understand, then ask the person creating the contract to add a paragraph of your own that clearly states the objective in words you do understand. They should have no problem adding a paragraph written by you stating the ultimate objective if the contract already makes the same confirmation in other language.