Rent to Own Homes in Ooltewah
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Located near the southeastern border of the state of Tennessee, the census designated place of Ooltewah sits nestled in Hamilton County. The small town of seven hundred is a suburb of the larger city of Chattanooga and was originally the county seat of James County until it went bankrupt in the early twentieth century and was then absorbed by Hamilton County. During the American Civil War, a resident of Ooltewah, Alfred Cate, was infamous for leading a band of railroad bridge burning citizens who were trying to help make way for Union troops to enter the area. The Ooltewah railroad bridge was burned down by the 4th Michigan Cavalry in November 1863.The below results are primarily rent to own homes in :
Located... Read More
Located near the southeastern border of the state of Tennessee, the census designated place of Ooltewah sits nestled in Hamilton County. The small town of seven hundred is a suburb of the larger city of Chattanooga and was originally the county seat of James County until it went bankrupt in the early twentieth century and was then absorbed by Hamilton County. During the American Civil War, a resident of Ooltewah, Alfred Cate, was infamous for leading a band of railroad bridge burning citizens who were trying to help make way for Union troops to enter the area. The Ooltewah railroad bridge was burned down by the 4th Michigan Cavalry in November 1863.The below results are primarily rent to own homes in :
For public education, the following schools are within the Ooltewah school district zip code: Wallace A Smith Elementary School, Wolftever Creek Elementary School, Snow Hill Elementary School, Ooltewah Elemenetary School, Hunter Middle School, Ooltewah Middle School, East Hamilton Middle/High School, and Ooltewah High School. The primary high school boasts the color red and the mascot of an owl. Ooltewah High School also offers its students the option of participating in advanced placement courses as well as an international baccalaureate program.
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
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.
Sign up for one of our free listings so that potential buyers can find you when they look for rent to own homes near me online.
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