Rent to Own Homes in Mt Morris
Mount Morris is a small city in eastern Michigan that is located just north of Interstate 475 and east of Interstate 75. Flint is approximately eight miles south of the city, and Saginaw is close to 30 miles to the north. This gives residents in Mount Morris City a short commute to larger cities with a variety of job opportunities and entertainment venues. Lake Huron is also less than a two-hour drive to the east, giving residents many options for affordable vacations and long weekends on the water.The below results are primarily rent to own homes in :
Mount Morris is a small city in eastern Michigan that is located just north of Interstate 475 and east of Interstate 75. Flint is approximately eight miles south of the city, and Saginaw is close to 30 miles to the north. This gives residents in Mount Morris City a short commute to larger cities with a variety of job opportunities and entertainment venues. Lake Huron is also less than a two-hour drive to the east, giving residents many options for affordable vacations and long weekends on the water.The below results are primarily rent to own homes in :
The first post office was established in Mount Morris in 1837, and the region was incorporated as a village in 1867. The name was Mount Morris Station at the time, but it was changed to Mount Morris in 1874. The city was incorporated in 1929 with a population close to 2,000. There were more than 3,000 people residing within Mt. Morris city limits by 1960, and there were close to 4,000 people by 1970. The population has declined slightly since, allowing Mount Morris to maintain its small-city charm. Mount Morris is now a part of Genesee County. While it’s often confused with Mount Morris Township, they are separate entities. In 2016, there were just under 3,000 Mt. Morris residents.
Buying vs. Rent to Own Homes
Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.
Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.
Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.
The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.
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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