Rent to Own Homes in Emporia
One of... Read More
One of the smallest towns in Virginia by population, Emporia is a quiet but thriving community. It is considered the southern gateway to Virginia, located near the state’s border with North Carolina. It is the county seat of Greensville County, although it is an independent city in the Commonwealth of Virginia.The below results are primarily rent to own homes in :
One of... Read More
One of the smallest towns in Virginia by population, Emporia is a quiet but thriving community. It is considered the southern gateway to Virginia, located near the state’s border with North Carolina. It is the county seat of Greensville County, although it is an independent city in the Commonwealth of Virginia.The below results are primarily rent to own homes in :
The town has an unusual history, dating back to the Virginia Colony. It began as two separate communities: Hicksford and Belfield. When the two towns merged in 1887, the city was renamed Emporia. It incorporated in 1887, but the charter was revoked by the Virginia General Assembly in 1888. Emporia finally reincorporated as a town in 1892. Emporia has 5,927 residents, according to the 2010 United States Census. The median family income was $35,743. The Meherrin River has played a role in town life throughout Emporia’s history. Today, the Meherrin River continues to be a vibrant part of life in Emporia. The Meherrin River Park Complex is a popular gathering spot for locals where they can enjoy the boat ramp, playground, picnic shelters and baseball diamonds. Several local events draw visitors from around the region, including the Great Peanut Ride organized by the Emporia Bicycling Club and the Virginia Port Festival.
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
You can plan a party without an event planner, you can go swimming without a lifeguard, and you can rent to own without a realtor.
That’s important because there isn’t as much money for realtors in rent to own deals as in traditional sales. Therefore, finding a realtor to help you is rare.
While the listed activities might be easier with a professional, they’re all possible without one. To successfully rent to own without a realtor learn all you can about it.
About Our Listings
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
- 23847