Rent to Own Homes in Abbeville
Abbeville is a southeastern Alabama city located approximately 25 miles north of Dothan and about 70 miles west of Albany, Georgia. U.S. Route 431 and State Routes 95 and 10 all run through the center of town, keeping Abbeville residents connected to surrounding communities for employment and entertainment opportunities. Some of the biggest attractions in this region of Alabama include Ward Gym, Girard Park and the Abbeville Recreation Complex. The city is also known for offering a variety of community amenities, including a farmer’s market and Christmas festivities.The below results are primarily rent to own homes in :
Abbeville is a southeastern Alabama city located approximately 25 miles north of Dothan and about 70 miles west of Albany, Georgia. U.S. Route 431 and State Routes 95 and 10 all run through the center of town, keeping Abbeville residents connected to surrounding communities for employment and entertainment opportunities. Some of the biggest attractions in this region of Alabama include Ward Gym, Girard Park and the Abbeville Recreation Complex. The city is also known for offering a variety of community amenities, including a farmer’s market and Christmas festivities.The below results are primarily rent to own homes in :
The area that we now refer to as Abbeville started out as a colonial settlement in the 1700s. The transition to Abbeville occurred in the 1830s, and the city was incorporated in 1853. It’s now a part of Henry County, and there were more than 2,500 people residing within city limits in 2016. The city started out with approximately 300 residents in 1850, and the population has grown slowly over the years. Henry County Public Schools maintains the public school system for Abbeville residents. Students also have the option of attending Abbeville Christian Academy if private school is desired. Abbeville High School and Abbeville Elementary School are both located within city limits.
Buying vs. Rent to Own Homes
If you’re looking to purchase a home, you could fall into three categories: ready to buy, ready to rent to own and rent a bit longer. Buying is your best option, so if you’re ready, you should. Rent to own is also a good option because it sets you on course to buy a property soon.
If you’ll be ready to buy a property within the next three years, rent to own is the right option for you. Your lease term should be at least six months longer than how much time you need to qualify for financing; that way, you have some buffer room in case something goes wrong. Whenever you are ready, you can close on the home and start building equity on it.
If it’s going to take more than three years for you to qualify for financing, keep renting until you’re less than three years away. Just because rent to own isn’t right for you now doesn’t mean it won’t be in the future.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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