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Surging housing market forcing many to rent-to-own options

Posted at 7:32 AM, Mar 29, 2021
and last updated 2021-03-29 10:54:03-04

The surging housing market continues to drive prices higher and force prospective buyers to consider rent-to-own options.

A mortgage expert from NerdWallet says rent-to-own should not be the first option for most people as you're better off saving money on your own while you rent.

The company recommends that people considering a rent-to-own option have an independent appraiser and real estate attorney look over the property and contract.

The company also says to make sure you take steps to qualify for a mortgage at the end of your rent-to-own agreement.