Rent to Own Homes in Booneville
Booneville is a thriving retirement city tucked into the northeastern corner of Mississippi. Northeast Mississippi Community College is located near the center of town, and the Booneville Country Club is close to the northern border. Other local attractions include the Rails and Trails Museum, Booneville City Park, Westside City Park and the community swimming pool. Residents are connected to surrounding cities by Mississippi Highway 4 and U.S. Route 45.The below results are primarily rent to own homes in :
Booneville is a thriving retirement city tucked into the northeastern corner of Mississippi. Northeast Mississippi Community College is located near the center of town, and the Booneville Country Club is close to the northern border. Other local attractions include the Rails and Trails Museum, Booneville City Park, Westside City Park and the community swimming pool. Residents are connected to surrounding cities by Mississippi Highway 4 and U.S. Route 45.The below results are primarily rent to own homes in :
The City of Booneville is located approximately 25 miles south of the Tennessee-Mississippi state line and 25 miles west of the Alabama-Mississippi state line. Residents can drive into the heart of the Holly Springs National Forest in about one hour. The city covers approximately 25 square miles just north of Tupelo and is served by the public school systems of Booneville and Prentiss County. The local community college is a central hub of education for five surrounding counties. Booneville was named after R.H. Boone, who was related to well-known Daniel Boone. There were approximately 450 residents in 1870, and the population grew to more than 1,000 residents by 1900. The city has grown gradually over the years, registering close to 9,000 residents in 2016. The city’s median income is above $30,000 per family and household.
Buying vs. Rent to Own Homes
Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.
Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.
Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.
The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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