Thread: The Scoop On Leasingtobuy.com

Be very aware of this company's track record. I signed a contract with them several years back thinking it was a grand idea to avoid losing my house in Georgetown, Texas. The day the the new tenants signed the lease to buy agreement, they had more pets that I knew about. They paid the payments for one year and kept telling me how they loved the house and when it was time to buy they were going to do many improvements. At exactly one year and one month later, I received a cell text message (not a move out notice in writing) from them saying they have moved out. I thought, great now I have to get it back on the market. I went to my home the following day OMGosh I was in absolute shock at how they totally destroyed the interior. The carpet was trashed with dog pee and dog droppings. The dining room carpet was absolutely torn out and a piece of carpet lay loosly on the pet urine stained cement. The garage was soaked in cat urine. There were holes in the walls and I could go on. It was basically a loss, a rental nightmare! After painting and trying to make some improvements in a near hopeless situation, I put it on the market. Needless to say, Leasing to buy did not stand behind me one bit. They took the several thousand dollar down payment they received from the tenants and ran with it using all kinds of excuses as to why they couldn't help me. They are scam artists/crooks. I would not refer nor use their services ever again. Needless to say, the house was foreclosed on. I lost out big time with no support whatsoever from Leasing to Buy! Now I'm ready to purchase another home but I have this foreclosure on my credit. Can I still sue LTB and the tenants or has time run out if this happened 3 years back. Someone please give me some valuable advice here.

I really feel for you and suggest you contact a Real Estate Atty in Texas. For something as important as the scenario you are in, competent professional legal representation is the best route.

But I am glad you came on here to warn others about your experience. I hear many sad stories from both uyers/sellers regarding rent to own or lease to own or lease options. If you are not able to get a "normal" mortgage, then you might be well advised to wait until you are more financially able to handle the responsibility.

Iwould suggest that if your situation warrants you must buy now and for whatever reason cannot get financing from the bank then get owner financing NOT rent to own or lease to own or lease option.