Rent to Own Homes in Gordonsville
Gordonsville is located in central Virginia, approximately 20 miles northeast of Charlottesville. This Orange County town tells a detailed story of American history, evident with a visit to the Gordonsville Historic District. According to the United States Census Bureau, the population of Gordonsville is more than 1,500 residents.The below results are primarily rent to own homes in :
Gordonsville is located in central Virginia, approximately 20 miles northeast of Charlottesville. This Orange County town tells a detailed story of American history, evident with a visit to the Gordonsville Historic District. According to the United States Census Bureau, the population of Gordonsville is more than 1,500 residents.The below results are primarily rent to own homes in :
In 1813, longtime resident and local innkeeper Nathaniel Gordon was selected as postmaster of the area, and Gordonsville was born. Prior to becoming the area's first postmaster, Nathaniel Gordon operated a tavern that served as a local meeting place for residents. President Thomas Jefferson, President George Washington and President James Monroe were said to have been guests at the tavern. In the 1830's Gordonsville experienced population growth as the Louisa Railroad, later known as the Virginia Central Railroad, expanded into the area. With increased connections to neighboring communities, Gordonsville became a central location for trade in the region. Historic Gordonsville, Inc. is committed to preserving the historic charm of the community. Historic Gordonsville, Inc. has assisted in the preservation and restoration of the Exchange Hotel, which played a significant role during the Civil War. This historic structure was converted from a lavish stop for weary travelers to a hospital serving wounded soldiers.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
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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