Rent to Own Homes in Hanceville
Hanceville is a growing city in northern Alabama that is positioned just off U.S. Route 31 between Hoover and Huntsville. Birmingham is approximately 40 miles to the south, and Decatur is about 50 miles to the north. This location places residents within a 60-minute drive of three larger cities and less than a two-hour drive from the Alabama-Georgia state line. The city is also a short drive from some popular natural attractions, including the Bankhead National Forest and Cross Creek Golf Course.The below results are primarily rent to own homes in :
Hanceville is a growing city in northern Alabama that is positioned just off U.S. Route 31 between Hoover and Huntsville. Birmingham is approximately 40 miles to the south, and Decatur is about 50 miles to the north. This location places residents within a 60-minute drive of three larger cities and less than a two-hour drive from the Alabama-Georgia state line. The city is also a short drive from some popular natural attractions, including the Bankhead National Forest and Cross Creek Golf Course.The below results are primarily rent to own homes in :
When Hanceville was incorporated as a city in 1879, the community was split between Cullman County and Blount County. After the county lines were moved two times, the city was placed completely in Cullman County. The city is home to Wallace State Community College, and younger students attend schools maintained by the Cullman County Board of Education. This includes Hanceville High School. Another major attraction for Hanceville is Our Lady of the Angels Monastery. There were fewer than 200 people residing within Hanceville city limits when it was incorporated. The population grew to more than 1,000 by 1960 and more than 2,000 by 1970. There were more than 3,000 Hanceville residents in 2017, and the city is expected to continue its slow growth for years to come.
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
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
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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