Rent to Own Homes in North Lauderdale
North Lauderdale had auspicious beginnings... Read More
North Lauderdale had auspicious beginnings as the dream “City of Tomorrow,” imagined by legendary architect Morris Lapidus. Lapidus’ influence is still seen today throughout the town, especially in the curvy Boulevard of Champions. As an increasing number of people moved to North Lauderdale, the town developed as an important city within the Miami metropolitan area. Today, the town’s 43,699 residents contribute to the region’s booming population of 6 million residents.The below results are primarily rent to own homes in :
North Lauderdale had auspicious beginnings... Read More
North Lauderdale had auspicious beginnings as the dream “City of Tomorrow,” imagined by legendary architect Morris Lapidus. Lapidus’ influence is still seen today throughout the town, especially in the curvy Boulevard of Champions. As an increasing number of people moved to North Lauderdale, the town developed as an important city within the Miami metropolitan area. Today, the town’s 43,699 residents contribute to the region’s booming population of 6 million residents.The below results are primarily rent to own homes in :
North Lauderdale encompasses 4.65 square miles west of Pompano Beach, south of Coral Springs and north of Plantation and Fort Lauderdale. In 2010, the United States Census Bureau found that there were 14,079 households in North Lauderdale with a median income of $40,050. The family median income in North Lauderdale was slightly greater at $41,990. The town is part of Broward County, and local residents receive many of their vital services from city and county governments. City services include fire and rescue, parks, recreation programs, a senior shuttle service and utilities. Broward County supplements those city services, providing a library branch in North Lauderdale as well as public safety through the Broward County Sheriff’s Department. Local schools are managed by Broward County Public Schools, including North Lauderdale Pre K - 8 and Pinewood Elementary. The city’s many parks, schools and athletic programs create a comfortable family environment in North Lauderdale. America’s Promise Alliance recognized the city’s many attributes, naming it among the United States’ Top 100 Communities for Youth
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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