Rent to Own Homes in Georgetown
Georgetown is located approximately 55 miles north of Charleston on South Carolina's Atlantic coast. Myrtle Beach is approximately 30 miles north of the city, and Columbia is less than a three-hour drive inland. In addition to enjoying easy access to beautiful beaches along the coast, Georgetown residents are a short drive from many natural attractions in eastern South Carolina. This includes the Francis Marion National Forest, Brookgreen Gardens and the Founders Club at Pawleys Island.The below results are primarily rent to own homes in :
Georgetown is located approximately 55 miles north of Charleston on South Carolina's Atlantic coast. Myrtle Beach is approximately 30 miles north of the city, and Columbia is less than a three-hour drive inland. In addition to enjoying easy access to beautiful beaches along the coast, Georgetown residents are a short drive from many natural attractions in eastern South Carolina. This includes the Francis Marion National Forest, Brookgreen Gardens and the Founders Club at Pawleys Island.The below results are primarily rent to own homes in :
This city is well known for its position at the confluence of the Black River, the Waccamaw River, the Great Pee Dee River and the Sampit River. These rivers have a significant influence on the lifestyle and culture of Georgetown residents. That culture is also expressed through the Georgetown Historic District, which features well preserved public buildings, historical sites and more than 50 private homes. Georgetown's seaport plays a major part in the economy for this region and provides a lot of jobs for locals. Some of the largest employers for Georgetown residents include Tidelands Health, Georgetown Memorial Hospital, Coastal Carolina University and the Georgetown County School District. Some residents may also work in retail or for small businesses striking up a presence in the city.,k
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
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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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