Rent to Own Homes in Catalina
The city of Catalina is located in southern... Read More
The city of Catalina is located in southern Pima County in the state of Arizona. It is a census designated place and unincorporated community that, despite its rural roots and adherence to its rural background, continues to see a sharp increase in population growth. The city is believed to have been founded by Lloyd Golder III who had moved to Tuscon from Illinois. By 1957, Golder and his wife, Vicki Cox Golder, had purchased the Rancho Vistoso, which was originally a 4.8 thousand acre ranch, as well as neighboring Rail N. Ranch, an 18 thousand acre plot of land. From there, Golder and his family built extensively on the land and eventually became known as Catalina.The below results are primarily rent to own homes in :
The city of Catalina is located in southern... Read More
The city of Catalina is located in southern Pima County in the state of Arizona. It is a census designated place and unincorporated community that, despite its rural roots and adherence to its rural background, continues to see a sharp increase in population growth. The city is believed to have been founded by Lloyd Golder III who had moved to Tuscon from Illinois. By 1957, Golder and his wife, Vicki Cox Golder, had purchased the Rancho Vistoso, which was originally a 4.8 thousand acre ranch, as well as neighboring Rail N. Ranch, an 18 thousand acre plot of land. From there, Golder and his family built extensively on the land and eventually became known as Catalina.The below results are primarily rent to own homes in :
Between 1961 and 1964, Golder worked on building the Golder Dam along the Lago del Oro. However, the project was eventually deemed unsafe and was forced to be abandoned. Golder went on to develop other, more successful subdivisions that made up the present day neighborhoods on his land. Golder passed in 2013 and his legacy left behind the Golder Ranch as well as the Golder Ranch Fire District Board, on which his wife continues to serve.
Buying vs. Rent to Own Homes
If you’re looking to purchase a home, you could fall into three categories: ready to buy, ready to rent to own and rent a bit longer. Buying is your best option, so if you’re ready, you should. Rent to own is also a good option because it sets you on course to buy a property soon.
If you’ll be ready to buy a property within the next three years, rent to own is the right option for you. Your lease term should be at least six months longer than how much time you need to qualify for financing; that way, you have some buffer room in case something goes wrong. Whenever you are ready, you can close on the home and start building equity on it.
If it’s going to take more than three years for you to qualify for financing, keep renting until you’re less than three years away. Just because rent to own isn’t right for you now doesn’t mean it won’t be in the future.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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