Rent to Own Homes in Long Beach
Long Beach is a growing city on the shores of the Gulf of Mexico in southern Mississippi. This location is just south of the De Soto National Forest and is approximately 15 miles west of Biloxi. New Orleans is about 70 miles to the southwest, and Hattiesburg is about 70 miles to the north. This region of the state was originally an agricultural area known for growing and selling radishes. Today, Long Beach is better known as a tourist destination for people interested in relaxing on the Gulf Coast.The below results are primarily rent to own homes in :
Long Beach is a growing city on the shores of the Gulf of Mexico in southern Mississippi. This location is just south of the De Soto National Forest and is approximately 15 miles west of Biloxi. New Orleans is about 70 miles to the southwest, and Hattiesburg is about 70 miles to the north. This region of the state was originally an agricultural area known for growing and selling radishes. Today, Long Beach is better known as a tourist destination for people interested in relaxing on the Gulf Coast.The below results are primarily rent to own homes in :
Some of the biggest attractions in the Long Beach area include the Awesome Deals Flea Market, Long Beach Harbor, Ship Island, Pineville Community Park, Island View Casino and the gigantic “Friendship” oak tree. Many visitors also come to this city to rent fishing charters or to simply walk along the beach with friends and family. Long Beach was heavily impacted by Hurricane Katrina in 2005. While much of the Gulf Coast has recovered and some cities are thriving, other areas continue to struggle or are practically nonexistent today. Long Beach is one of the lucky cities to make a comeback and is now filled with small businesses and tourist companies that offer employment for residents. The city is served by the Long Beach School District, which includes Long Beach High School.
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
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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