Rent to Own Homes in East Liverpool
East Liverpool is located in Northern Ohio, approximately 40 miles west of Pittsburgh, Pennsylvania. This Columbiana County city lies close to the region where Ohio, Pennsylvania and West Virginia meet. According to the United States Census Bureau, the population of East Liverpool is over 10,500 residents.The below results are primarily rent to own homes in :
East Liverpool is located in Northern Ohio, approximately 40 miles west of Pittsburgh, Pennsylvania. This Columbiana County city lies close to the region where Ohio, Pennsylvania and West Virginia meet. According to the United States Census Bureau, the population of East Liverpool is over 10,500 residents.The below results are primarily rent to own homes in :
Families who live in East Liverpool may send their children to the East Liverpool City School District as a public school option. The district consists of two elementary schools, one middle school and one school that combines junior and senior high school grades. The East Liverpool Christian School is available as a local private school option. Residents of the East Liverpool area strongly support the athletic teams at East Liverpool High School. The teams at East Liverpool High School are known as the East Liverpool Potters, a nod to the area's past in the pottery and ceramics industry. The downtown East Liverpool district was renovated in the mid-1900's, preserving its historic façade. The East Liverpool High School Alumni Association is located downtown in the old high school, a historic building with a clocktower serving as a well-known landmark.
Buying vs. Rent to Own Homes
Renting to own a home and buying a house have the same steps, just on different timetables.
When you buy a house, you either pay with cash or you make monthly payments to a mortgage or some other kind of financing option for a set time frame.
When you rent to own a home you pay an option fee, which is later credited toward the purchase of the home, and then you make monthly rent payments until you’re sure you want to buy this house and you can secure financing. Then, you do the same things you would if you were buying a house – just make sure you do it before the end of the lease term so that you don’t lose any of the money you’ve negotiated.
When you can choose between the two, buying might be the right option because your monthly payments will go towards equity in a home as opposed to someone else’s pocket. However, lease-options get you to the same place with a little more time.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
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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