Rent to Own Homes

Included below are Rent to Own Homes in the greater Dallas, TX area. If you would like more information on any of these listings, just click the "Request More Information" button when viewing the details of that property. We can provide you with disclosures, past sales history, dates and prices of homes recently sold nearby, and more.

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Rent to Own Homes September 27, 2023
64
Listed
64
Avg. DOM
$211.66
Avg. $ / Sq.Ft.
$329,950
Med. List Price
64 Properties
Page 1 of 6
4
Beds
3F11/2
Baths
3,372
Sq.Ft.
1972
Year Built
64
Days on Site
20379016
MLS
PRICE IMPROVED FOR QUICK SALE. Rare opportunity Weston Rd facing flat 9ac incl 3300 SF ranch home with horse farm, fenced pasture, barns, pond. TENANT LEASE must be assumed. See attached for lease...
$1,195,000
Neighborhood: Inwood Road Estates
4
Beds
3F11/2
Baths
4,060
Sq.Ft.
1968
Year Built
513
Days on Site
20047796
MLS
Prominent corner of prestigious Inwood Parkway. Country space in the heart of Preston Hollow on over half acre, 4000+ sq. ft., 2 fireplaces 2 like-new HVAC systems, large pool, mature trees, solid...
Open 9/30
12 Intrepid Circle Rockwall,  TX 75032
$868,400
Neighborhood: Chandlers Landing #1
3
Beds
4
Baths
2,984
Sq.Ft.
1977
Year Built
39
Days on Site
20411821
MLS
Breathtaking panoramic lake views in the resort style community of Chandlers Landing. Exclusive lake lifestyle living including a club restaurant, tennis courts, pools, private beach and marina all...
$845,000
Neighborhood: Xponential Add
5
Beds
2F11/2
Baths
2,878
Sq.Ft.
1975
Year Built
22
Days on Site
20407624
MLS
Single family ranch house with 1.2 acres of land- open floor plan- The rear of the house opens up to the public play park. Rare 5 bedroom 2 .5 bathrooms house-living and Dining with huge utility room...
$799,900
Neighborhood: Wildflower Ranch
4
Beds
3F11/2
Baths
3,200
Sq.Ft.
2023
Year Built
72
Days on Site
20379984
MLS
Beautiful one storied house with approximately 3200 sq ft Toll Brothers Luxury home, fully bricked elevation in the sought after Masterplan Community of Wildflower Ranch . This New Masterplan...
$799,000
Neighborhood: Kimberly Estates
5
Beds
3F21/2
Baths
3,910
Sq.Ft.
1999
Year Built
124
Days on Site
20337601
MLS
Gated home at the end of a subdivision road on almost 4 acres! Stocked pond excellent for fishing or paddle boating. Pool with outdoor living area and fire pit. For the golfers there is a driving...
$789,900
Neighborhood: Winners Circle 1 & 2 & 3 & 4
4
Beds
3F11/2
Baths
3,565
Sq.Ft.
2023
Year Built
33
Days on Site
20417219
MLS
It's essentially two homes in one, 4 bedrooms, 3.5 bathrooms, & a study, with an attached mother-in-law suite complete with separate living quarters, kitchenette, full bathroom, & living room. This...
$750,000
Neighborhood: Valley View Add 1st Instl
6
Beds
2
Baths
2,304
Sq.Ft.
1983
Year Built
58
Days on Site
20396387
MLS
Multiuse property: Single Family Home or any commercial activities such as restaurants, daycare, church, hair salon etc. Sits on less than half an acre of land with a playground set behind the...
$750,000
Neighborhood: Moore Farm Ph 2
5
Beds
4
Baths
4,502
Sq.Ft.
2006
Year Built
26
Days on Site
20423042
MLS
Tour this captivating haven nestled in the heart of Carrollton. Over 4,500 square feet, this stunning property has five generously sized bedrooms and four full bathrooms. This home also boasts a...
$600,000
Neighborhood: De Los Santos G
4
Beds
2
Baths
2,108
Sq.Ft.
2019
Year Built
181
Days on Site
20293265
MLS
Horse and livestock friendly! Come check out this beautiful property. Not only is there a lovely spacious home perfect for a family, there is also a 40 x 60 shop! This property has so much potential...
$599,000
Neighborhood: Plantation Estates Ph One
7
Beds
3F11/2
Baths
3,950
Sq.Ft.
1998
Year Built
35
Days on Site
20415868
MLS
THOUSANDS SPENT IN UPGRADES. You will love this spacious 7 bedroom home with 4 bathrooms just under 4000 square feet. Huge family room, spacious kitchen, breakfast area, formal dining room. Just...
Open 10/2
3618 Mcbroom Street Dallas,  TX 75212
$585,369
Neighborhood: Eagle Ford Gardens
5
Beds
2F11/2
Baths
2,449
Sq.Ft.
2019
Year Built
58
Days on Site
20395911
MLS
SPACIOUS 5 large Bedrooms, 3 large Bathrooms 2 story home in Dallas. Fully furnished. Privacy on your backyard patio. There is no HOA. Highly sought-after Trinity Groves like new construction! 10...
Information is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. The information being provided is for the consumer's personal, non-commercial use, and may not be reproduced, redistributed or used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than LivingWell Realty are marked with the NTREIS IDX logo and information about them includes the name of the listing brokerage.

NTREIS data last updated September 27, 2023.

What Is A Rent to Own Homes

Note: The following information is a generic statement of a "rent to own" or "lease to own" purchase. They vary by state and have greatly different legal terms and requirements. Consult with your local REALTOR® for state and county level advice.

A lease purchase option, also known as a rent-to-own or lease-to-own agreement, is a contractual arrangement between a potential home buyer and a seller. It offers the buyer an opportunity to lease the property for a specific period with the option to purchase it at a later date. This arrangement can be beneficial for buyers who are unable to secure traditional financing or need more time to save for a down payment.

Here's how a lease purchase option typically works:

  1. Agreement: The buyer and seller enter into a lease purchase agreement, outlining the terms and conditions of the arrangement. This agreement includes the purchase price, lease duration, monthly rental amount, option fee, and any other relevant details.

  2. Lease Period: The buyer occupies the property and pays rent to the seller for a predetermined period, usually between one to three years. During this time, the buyer has the exclusive right to purchase the property.

  3. Option Fee: The buyer pays an upfront option fee, typically around 1-5% of the purchase price. This fee is non-refundable and acts as consideration for the seller to reserve the property for the buyer.

  4. Rent Payments: The buyer pays monthly rent to the seller, which may include an additional amount that goes toward the eventual down payment or purchase price. The exact terms regarding the allocation of rent towards the purchase can vary, and it's important to clarify this in the agreement.

  5. Purchase Price: The purchase price of the property is agreed upon at the beginning of the lease purchase option. It can either be a fixed price or determined through an appraisal or market value assessment at the time of purchase.

  6. Option to Purchase: The buyer has the right, but not the obligation, to purchase the property at the end of the lease period. The agreed-upon purchase price remains valid during this time, regardless of any changes in the market value of the property.

  7. Financing: During the lease period, the buyer may work on improving their credit score or saving for a down payment to qualify for a mortgage loan. It's important for the buyer to ensure they will be able to secure financing when they exercise the option to purchase.

  8. Purchase Decision: At the end of the lease period, the buyer decides whether to exercise their option to purchase the property. If they choose to proceed, they can utilize their savings, obtain financing, or use a combination of both to complete the purchase.

It's crucial for both parties to clearly define the terms and conditions in the lease purchase agreement, including responsibilities for repairs, maintenance, and who bears the costs of property taxes and insurance during the lease period. Consulting with a real estate attorney and having a thorough understanding of the agreement is essential to protect the interests of both the buyer and the seller.

Potential Problems

While a lease-to-own arrangement can provide benefits for both buyers and sellers, there are potential dangers or risks associated with this type of agreement. It's important to be aware of these potential pitfalls before entering into a lease-to-own arrangement:

  1. Non-Refundable Option Fee: The option fee paid by the buyer at the beginning of the lease may be non-refundable, even if the buyer decides not to purchase the property at the end of the lease period. If the buyer ultimately chooses not to buy the property, they could lose a significant amount of money.

  2. Higher Purchase Price: The purchase price agreed upon at the start of the lease may be higher than the current market value of the property at the end of the lease period. If the property's value decreases during the lease term, the buyer may end up overpaying for the property.

  3. Failure to Secure Financing: If the buyer is unable to secure financing at the end of the lease period, they may lose the opportunity to purchase the property. This can result in the loss of the option fee and any additional rent payments made with the expectation of purchasing the property.

  4. Repairs and Maintenance: The responsibility for repairs and maintenance during the lease period may not be clearly defined in the agreement. If the buyer is responsible for these costs and the property requires significant repairs, it could add a financial burden.

  5. Market Fluctuations: Real estate markets can be unpredictable, and the value of the property may fluctuate during the lease period. If property values decline significantly, the buyer may not find it financially advantageous to proceed with the purchase.

  6. Seller Default: If the seller fails to meet their obligations, such as maintaining the property or paying the mortgage, it can negatively impact the buyer. In such cases, the buyer may lose their option fee and potentially face eviction if the property is foreclosed upon.

  7. Lack of Legal Protection: Lease-to-own agreements can be complex, and without proper legal guidance, one party may exploit the other. It's crucial to consult with a real estate attorney to ensure the agreement is fair and protects both parties' rights.

To mitigate these risks, it's essential for both parties to thoroughly understand the terms of the agreement, conduct a comprehensive property inspection, and consult with professionals such as real estate agents and attorneys. Doing thorough due diligence can help minimize the potential dangers associated with a lease-to-own arrangement.