Rent to Own Homes in Mercedes
Mercedes, Texas, is located in Hidalgo County in the southernmost part of the state. The population of Mercedes sits at around 15.5 thousand people and is one of the oldest cities in the greater Rio Grande Valley. There are two different school districts in Mercedes: the Mercedes Independent School District, whose students attend Mercedes High School, and the Weslaco Independent School District, whose students attend Weslaco East High School. A third school district, the South Texas Independent School District, is also headquartered in Mercedes and serves the different magnet schools that exist throughout the Rio Grande Valley area.The below results are primarily rent to own homes in :
Mercedes, Texas, is located in Hidalgo County in the southernmost part of the state. The population of Mercedes sits at around 15.5 thousand people and is one of the oldest cities in the greater Rio Grande Valley. There are two different school districts in Mercedes: the Mercedes Independent School District, whose students attend Mercedes High School, and the Weslaco Independent School District, whose students attend Weslaco East High School. A third school district, the South Texas Independent School District, is also headquartered in Mercedes and serves the different magnet schools that exist throughout the Rio Grande Valley area.The below results are primarily rent to own homes in :
Mercedes houses The Science Academy of South Texas (SciTech), a specialized high school under the jurisdiction of the South Texas Independent School District. This school is geared toward high school students who are interested in pursuing science, technology, and engineering fields. Application to enter the school is required, but open enrollment has long been the school's policy. The South Texas Independent School District also oversees the South Texas High School for Health Professionals (Med High), which is geared for high school students interested in medical careers. Just like SciTech, the school requires an application but believes in open enrollment. Both SciTech and Med High are magnet schools that serve the residents of Mercedes and their youth.
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 have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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