Rent to Own Homes in Chanute
Chanute is a small city in the southeastern corner of Kansas that rests just west of the Neosho River. This area is approximately 100 miles east of Wichita, 120 miles south of Kansas City, Missouri, and 120 miles north of Tulsa, Oklahoma. This places residents within a two-hour drive of several vacation hot spots in three different states. Some of the biggest attractions within city limits include Neosho County Community College, Martin and Osa Johnson Safari Museum, Stone Creek Golf Course, Chanute Country Club, Highland Park and Katy Park. The Chanute Martin Johnson Airport rests on the western edge of the city.The below results are primarily rent to own homes in :
Chanute is a small city in the southeastern corner of Kansas that rests just west of the Neosho River. This area is approximately 100 miles east of Wichita, 120 miles south of Kansas City, Missouri, and 120 miles north of Tulsa, Oklahoma. This places residents within a two-hour drive of several vacation hot spots in three different states. Some of the biggest attractions within city limits include Neosho County Community College, Martin and Osa Johnson Safari Museum, Stone Creek Golf Course, Chanute Country Club, Highland Park and Katy Park. The Chanute Martin Johnson Airport rests on the western edge of the city.The below results are primarily rent to own homes in :
The City of Chanute was originally named in honor of a railroad engineer known as Octave Chanute. There were originally four rivalry cities in the area, but they were consolidated in the early 1870s. There were fewer than 900 people living within city limits in 1880. The population grew to nearly 3,000 residents by 1890 and peaked at nearly 11,000 residents in 1960. While the population has gradually declined in years since, there were still more than 9,000 people living within city limits in 2016. Chanute residents are served by Chanute Unified School District 413, which includes Chanute High School in addition to one middle and one elementary school. Students may also choose to attend one of the city’s private schools, which includes Chanute Christian Academy.
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
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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