Rent to Own Homes in Creve Coeur
Creve Coeur is a growing city off Interstates 270 and 64 in eastern Missouri. The city is about 15 miles west of St. Louis, 10 miles east of Chesterfield and 50 miles north of the Mark Twain National Forest. Residents are within a two-hour drive of Springfield, Illinois, and a three-hour drive of the Arkansas-Missouri state line. Some of the biggest natural attractions in the Creve Coeur area include the Bellerive Country Club, Conway Park, Westwood Country Club, Creve Coeur City Golf Course, Millennium Park, Warson Park and Indian Meadows Park. The St. Louis Zoo is about 10 miles to the east, and the Shawnee National Forest is about 95 miles to the south.The below results are primarily rent to own homes in :
Creve Coeur is a growing city off Interstates 270 and 64 in eastern Missouri. The city is about 15 miles west of St. Louis, 10 miles east of Chesterfield and 50 miles north of the Mark Twain National Forest. Residents are within a two-hour drive of Springfield, Illinois, and a three-hour drive of the Arkansas-Missouri state line. Some of the biggest natural attractions in the Creve Coeur area include the Bellerive Country Club, Conway Park, Westwood Country Club, Creve Coeur City Golf Course, Millennium Park, Warson Park and Indian Meadows Park. The St. Louis Zoo is about 10 miles to the east, and the Shawnee National Forest is about 95 miles to the south.The below results are primarily rent to own homes in :
The Creve Coeur area started as a small community of farmers and fishers. Fur trappers used the area as a settling point in the early 19th century, and the city was incorporated in 1949. The name was chosen in honor of Creve Coeur Lake. The community started to grow after two large highways were constructed in the area. There were approximately 2,000 Creve Coeur residents in 1950, and the population grew to more than 18,000 residents by 2016. Today, Creve Coeur is home to the Monsanto Corporation headquarters and a variety of businesses in the technology and science industries. Some of the biggest employers in the area include Mercy Hospital, Thomas Reuters, SSM Health Care and Plaza Motor Company.
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
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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