Rent to Own Homes in De Soto
The city of De Soto is located in southeastern Missouri, in rapidly-growing Jefferson County. This small community is 45 minutes south of the large-city conveniences of St. Louis. It was established in the mid-1800's and named after Hernando De Soto as a nod to the area's Spanish ownership prior to being sold to the United States.The below results are primarily rent to own homes in :
The city of De Soto is located in southeastern Missouri, in rapidly-growing Jefferson County. This small community is 45 minutes south of the large-city conveniences of St. Louis. It was established in the mid-1800's and named after Hernando De Soto as a nod to the area's Spanish ownership prior to being sold to the United States.The below results are primarily rent to own homes in :
According to recent data from the United States Census Bureau, there are approximately 6,500 residents living in De Soto. The average household size is 2.38 people per household and the average family size is 3 family members. The population density is approximately 1,500 residents per square mile. The top five employment industries in the area are health care/social assistance, retail, construction, education and public administration. The median income of households in De Soto is $35,195 per year. Children living in De Soto attend the De Soto School District. The De Soto School District consists of two elementary schools, one junior high school and one senior high school. The district also has an early childhood center to serve the youngest students. Residents of De Soto can take advantage of the selection of community programs offered at the De Soto Public Library. The library maintains an active calendar filled with children's programs, adult programs and special events free of charge. De Soto residents have plenty of opportunities to step outside with several parks offering play structures, pavilions, athletic facilities and open spaces to enjoy.
Buying vs. Rent to Own Homes
There are a few situations in which rent to own makes sense when you have the option to purchase. A good situation to rent to own is when you’re not sure about a home you’re looking at buying, and you want to test it out for a bit before making a final decision. This way, you have less money on the line if you change your mind.
Renting to own is also a good option if you’re close to qualifying for financing, but you need a little bit more time to get there.
Renting to own doesn’t trap you in a lease like normal renting does – you can buy the home whenever you’re ready. That’s why it’s the good option if you almost have a large enough down payment, if your credit score is close to where you need it to be or if you just need a little more time at your job to build your job history. It also works when you’re waiting for your old home to sell so that you have the cash to purchase your new home.
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
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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