Rent to Own or Owner Finance Homes Cautions

Recently I met with a company that specializes in Rent to Own and Owner Financed Homes. The process is simple and some companies do no types of Credit Checks or Qualifications for these Homes. How can they do that you ask? Well the process goes like this, you put down X amount of money, usually between $3,000 and $7500 and they amortize the balance of the purchase price over a specified period of time most of the time the asking price is not very negotiable. You make the payments along with taxes and insurance and all goes well. What I was told is the average length of time before the potential homeowner gets in trouble is 27 months. This is what the company is counting on so they can resell the home once again with a down payment and rent to own contract. The system is basically a rental home with a high dollar non refundable deposit. SC courts have had some say into what part of equity a potential Rent to Own buyer has and the companies out there are doing all they can to bypass having to go to court to remove a "tenant" usually by doing a sub lease for the buyer. Be sure you as a buyer know all the details on what can happen and what type of contract you are getting into. I would recommend contacting a Real Estate Attorney to view the contract and explain what your rights are. If you need additional information just let me know. Thanks.