Rent to Own Homes in Campobello
The United State Census Bureau's Census of Population... Read More
The United State Census Bureau's Census of Population puts the population of Campobello at around 502 people. The town is located in the northwestern part of the state of South Carolina near the border in Spartanburg County. Campobello was initially established in 1850 along the South Pacolet River. The small town covers approximately 0.9 square miles of land and is just 40 miles to the northwest of the city of Union. Campobello sits at an elevation of 922 feet above sea level.The below results are primarily rent to own homes in :
The United State Census Bureau's Census of Population... Read More
The United State Census Bureau's Census of Population puts the population of Campobello at around 502 people. The town is located in the northwestern part of the state of South Carolina near the border in Spartanburg County. Campobello was initially established in 1850 along the South Pacolet River. The small town covers approximately 0.9 square miles of land and is just 40 miles to the northwest of the city of Union. Campobello sits at an elevation of 922 feet above sea level.The below results are primarily rent to own homes in :
The median income for a household in Campobello is somewhere around 36 thousand dollars and the median income for a family is at around 41 thousand dollars. The average household size in the town is 2.76 and the average family size is 3.18. In terms of ethnic breakdown, residents are broken up into: 85.97% White, 8.69% African American, 0.45% Native American, 4.01% Asian, 0.89% Hispanic or Latino, and 0.89% of two or more ethnicities. For age distribution, the majority of the population is 45 to 64 (26.9%) followed closely by residents younger than 18 (25.8%), then 25 to 44 (25.4%), 65 or older (13.6$), and 18 to 24 (8.2%). Larger cities in Spartanburg County include: Chesnee, Greer, Inman, Landrum, Spartanburg, Wellford, and Woodruff.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
Rent to Own Realtors
You can plan a party without an event planner, you can go swimming without a lifeguard, and you can rent to own without a realtor.
That’s important because there isn’t as much money for realtors in rent to own deals as in traditional sales. Therefore, finding a realtor to help you is rare.
While the listed activities might be easier with a professional, they’re all possible without one. To successfully rent to own without a realtor learn all you can about it.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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