Rent to Own Homes in Carthage
Carthage is a small city that sits at the heart of Mississippi, approximately 50 miles northeast of Jackson. This area is less than 90 miles from the Alabama state line and is less than a three-hour drive of Tuscaloosa, Alabama. The northern tip of the Bienville National Forest is less than a 30-minute drive to the south, and the southern edge of the Tombigbee National Forest is within a 45-minute drive to the north. These nearby attractions give residents many options for outdoor recreation, and there are even more options within city limits at McMillan Park.The below results are primarily rent to own homes in :
Carthage is a small city that sits at the heart of Mississippi, approximately 50 miles northeast of Jackson. This area is less than 90 miles from the Alabama state line and is less than a three-hour drive of Tuscaloosa, Alabama. The northern tip of the Bienville National Forest is less than a 30-minute drive to the south, and the southern edge of the Tombigbee National Forest is within a 45-minute drive to the north. These nearby attractions give residents many options for outdoor recreation, and there are even more options within city limits at McMillan Park.The below results are primarily rent to own homes in :
The area that is now known as the City of Carthage was originally settled by a family who moved to the area from Carthage, Tennessee. They named their new hometown after their previous home, and the area was incorporated as a city in 1876. Historically, the city was well known as home to the annual Tri-Racial Goodwill Festival and an active logging railroad. The railroad was eventually replaced by the Canton and Carthage Railroad. Carthage is now a part of Leake County, and the Carthage Historic District is a registered national historic place. The world’s largest chicken processing plant serves as a major employer for the area along with the Leake County School District.
Buying vs. Rent to Own Homes
Rent to own gives you anywhere between a few months and three years time to prepare for buying a home. It’s more costly than buying outright because you’ll be paying rent to the owner instead of building equity by paying off the mortgage; but, it’s much better than renting because you have the option to buy and stop the rent payment process whenever you’re ready.
Lease-options help set you up for a home purchase in the not-so-distant future.
That’s not to say that because you aren’t ready to buy you should rent to own. If you need more than three years before you’re ready to purchase a home, you shouldn’t rent to own. Instead, you should wait until you’re at least less than three years away from qualifying to buy a home before signing your lease-option because, if the lease term ends and you’re not ready to buy, you’ll lose the money you invested in an option fee and any other money you’ve negotiated from the seller.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
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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