Rent to Own Homes in Cherryville
Cherryville is a small city located approximately 35 miles northwest of Charlotte in southern North Carolina. This area is approximately 55 miles south of Statesville, 15 miles northwest of Gastonia and 50 miles north of Spartanburg, South Carolina. This location allows residents to reach many cities in the northern region of South Carolina in less than an hour without traffic. While there are some small businesses within city limits, many residents commute to Gastonia, Charlotte and other surrounding communities for employment and entertainment opportunities.The below results are primarily rent to own homes in :
Cherryville is a small city located approximately 35 miles northwest of Charlotte in southern North Carolina. This area is approximately 55 miles south of Statesville, 15 miles northwest of Gastonia and 50 miles north of Spartanburg, South Carolina. This location allows residents to reach many cities in the northern region of South Carolina in less than an hour without traffic. While there are some small businesses within city limits, many residents commute to Gastonia, Charlotte and other surrounding communities for employment and entertainment opportunities.The below results are primarily rent to own homes in :
The area that we now refer to as Cherryville was originally a settlement known as White Pine. The first community was settled around the Morganton-to-Charleston road area, and the population picked up when the railroad was extended through the Cherryville area. There were approximately 1,000 people living within city limits in 1900, and the population grew to more than 5,000 residents by 2000. There were just over 6,000 residents in 2016, and the city is expected to continue its pattern of slow growth for years to come. Today, the city is a part of Cherryville Township and is home to a few large employers. This includes Keystone Powdered Metal Company and FleetNet America. Residents are served by the Gaston County School District, and most students attend Cherryville Elementary School, Beam Intermediate School, John Chavis Middle School and Cherryville High School.
Buying vs. Rent to Own Homes
Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.
Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.
Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.
The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.
- 28021