Is it Easier to Buy the House Rented from your Landlord?

In some respects it is easier.  However, there are some things you should know up front.  Rent check copies for the past year are a MUST.  Rent receipts for paid in cash rent is not going to be satisfactory.  Credit for rent off the purchase price is allowed, but ONLY for the portion of the rent that is above the market.  If your home would normally rent of $1000 per month and you pay $1200, then $200 could be credited toward the purchase price.  However, you can have a certain amount credited back to you to be allocated toward closing costs depending on the loan program selected.

You should have the purchase & sales contract done by a third party, typically a law office specializing in real estate.  This will offer protections for both you and for the seller that a handwritten agreement may not contain.  The appraisal may or may not end up at a value equal to or greater than the sale price.  You should have a clause that indicates that you should have a satisfactory appraisal.   And do not overlook your right to have a home inspection done at your expense.  Buying from your landlord does not mean you should cut corners.  But it can mean that you can make a purchase transaction be a pleasant and rewarding one.