Rent to Own Homes in Byhalia
Byhalia is a small town off Interstates 22 and 269 on the northern edge of Mississippi. This area is approximately 30 miles southeast of Memphis, Tennessee, 15 miles northwest of Holly Springs and 55 miles north of Batesville. Residents can reach the Holly Springs National Forest in approximately 30 minutes without traffic, and Sardis Lake is less than a one-hour drive to the south. The town stretches out for approximately 3 square miles and is all dry land.The below results are primarily rent to own homes in :
Byhalia is a small town off Interstates 22 and 269 on the northern edge of Mississippi. This area is approximately 30 miles southeast of Memphis, Tennessee, 15 miles northwest of Holly Springs and 55 miles north of Batesville. Residents can reach the Holly Springs National Forest in approximately 30 minutes without traffic, and Sardis Lake is less than a one-hour drive to the south. The town stretches out for approximately 3 square miles and is all dry land.The below results are primarily rent to own homes in :
The small town that we now know as Byhalia started out as a small settlement on Pigeon Roost Road. The area was originally settled as a main stopping point on the trade route through northern Mississippi, and the population grew from approximately 350 residents in 1880 to more than 1,200 residents in 2010. It was estimated that approximately 1,200 residents remained in the city as of 2016. In 2010, the median income per Byhalia household was more than $25,000, and the median income per family was more than $35,000. Residents are served by the Marshall County school District and the Byhalia Area Chamber of Commerce. There are many community events held in town each year, including the Sounds of Summer Music and Arts Festival.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
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
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.
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