Rent to Own Homes in Leland
Buying vs. Rent to Own Homes
If you’re looking to purchase a home, you could fall into three categories: ready to buy, ready to rent to own and rent a bit longer. Buying is your best option, so if you’re ready, you should. Rent to own is also a good option because it sets you on course to buy a property soon.
If you’ll be ready to buy a property within the next three years, rent to own is the right option for you. Your lease term should be at least six months longer than how much time you need to qualify for financing; that way, you have some buffer room in case something goes wrong. Whenever you are ready, you can close on the home and start building equity on it.
If it’s going to take more than three years for you to qualify for financing, keep renting until you’re less than three years away. Just because rent to own isn’t right for you now doesn’t mean it won’t be in the future.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.