Rent to Own Homes in Kershaw
The town of Kershaw is found in the northern region of South Carolina, approximately 55 miles north of the capital city of Columbia. This Lancaster County community boasts a rich history, temperate climate and small-town atmosphere that is desired among many. According to the United States Census Bureau, the population of Kershaw is more than 2,100 residents.The below results are primarily rent to own homes in :
The town of Kershaw is found in the northern region of South Carolina, approximately 55 miles north of the capital city of Columbia. This Lancaster County community boasts a rich history, temperate climate and small-town atmosphere that is desired among many. According to the United States Census Bureau, the population of Kershaw is more than 2,100 residents.The below results are primarily rent to own homes in :
Kershaw is known for its location a mere three miles from the Haile Gold Mine. In earlier times, the Haile Gold Mine was considered to be the Appalachian's largest single producer of gold. The mine remains in operation today. The United States Census Bureau reports the median income of households in Kershaw at just over $36,000 per year. Careers in manufacturing and retail employ nearly forty percent of Kershaw residents. Residents can easily get lost in stories of Kershaw's past. The community is home to several landmarks of historical significance. The house of William Columbus Cauthen and the Kershaw Depot have both earned spots on the National Register of Historic Places. Residents can experience the community's past in an interactive way with a stroll through the Matson Street Historic District or the East Richland Street-East Church Street Historic District, also recognized on the National Register of Historic Places.
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
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.
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