Rent to Own Homes in New Castle
Located along the Delaware River, New Castle is a small town of about 5,357 residents. It is part of New Castle County, which is home to about 557,000 people.The below results are primarily rent to own homes in :
Located along the Delaware River, New Castle is a small town of about 5,357 residents. It is part of New Castle County, which is home to about 557,000 people.The below results are primarily rent to own homes in :
Founded in 1651 by the Dutch West India Company, the town had several names in its early years. It originally began as Fort Casimir, but when New Sweden took over the colony, it became known as Fort Trinity. When the Dutch reclaimed the area, the colony was renamed New Amstel. During the Second Anglo-Dutch War, English victors took over the entire New Netherland colony and renamed it New Castle. The colony changed hands one more time until it was finally ceded to the British in 1680. New Castle is the site where William Penn, Duke of York first set foot in the New World. New Castle was the first capital of Delaware and once served as the county seat for New Castle County. With the town dating back to the earliest days of American history, there are many New Castle historic sites. Locals live and work amid the town’s main historic area, the New Castle Historic District. The district is filled with 500 historic buildings, including Olde New Castle Courthouse, Amstel House and Immanuel Episcopal Church on the Green. While the nation’s history is woven throughout New Castle, the city is modern and forward-thinking. The City of New Castle provides residents with utilities and police services. The city also maintains popular Battery Park, which runs alongside the Delaware River and is home to a variety of city recreation programs.
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
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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