Rent to Own Homes in Bennettsville
Bennettsville lies in the northeast portion of South Carolina, approximately 40 miles north of Florence. This Marlboro County city boasts a location along the Great Pee Dee River. According to the United States Census Bureau, the population of Bennettsville is more than 8,200 residents.The below results are primarily rent to own homes in :
Bennettsville lies in the northeast portion of South Carolina, approximately 40 miles north of Florence. This Marlboro County city boasts a location along the Great Pee Dee River. According to the United States Census Bureau, the population of Bennettsville is more than 8,200 residents.The below results are primarily rent to own homes in :
History buffs feel right at home in Bennettsville. The entire Bennettsville Historic District is proudly listed on the National Register of Historic Places. The Bennettsville Historic District is home to the Jennings-Brown House, which is available to admire alongside the Marlboro County Historical Museum. The D.D. McColl House was purchased in 1871 by Donald Duncan McColl, a man who was instrumental to the development of Marlboro County in its early days. Today the historic landmark, located on West Main Street, serves as the Bennettsville Chamber of Commerce and Visitor's Center. The Bennettsville Historic District offers self-guided walking tours to better visualize the past of this quintessential Southern community. The Pee Dee River winds through rural South Carolina, providing diverse scenery and outdoor recreation to residents of Bennettsville. Fishing and paddle sports are popular activities among locals. Residents of Bennettsville do not need to travel far to find an access point to this natural beauty.
Buying vs. Rent to Own Homes
When you rent to own, you pay an option fee and rent the home for up to three years while prepping for financing approval. Then, you buy it as soon as you’re ready. When you buy a home normally, you skip to the third step of the process.
Basically, when you’re almost ready to own a home, you should consider renting to own, but when you are ready, you should go ahead and purchase it.
Rent to own gives you more time to improve your credit score or save up a greater down payment in preparation for buying a house. Ultimately, rent to own is more expensive than outright buying a property because you’re paying rent to the owner every month. However, lease-options are a much better alternative than renting a property because you’re building some equity in the home, just not as much as you will once you purchase.
Once you own a home, you will likely be making monthly payments to a mortgage. Mortgage payments are typically around the same amount as rent to own payments, but all of it – minus interest, PMI and taxes – builds equity in the property, which directly benefits you.
Rent to Own Realtors
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
Sign up for one of our free listings so that potential buyers can find you when they look for rent to own homes near me online.
- 29512