Rent to Own Homes in Pelham
Pelham is a growing city in central Alabama that incorporates Oak Mountain State Park. This area is less than 20 miles south of Birmingham and about 70 miles north of Montgomery. The southern tip of the Talladega National Forest is less than a one-hour drive to the east and allows residents to hike, mountain bike and enjoy other recreational sports throughout the year. Some of the biggest attractions closer to town include the Yellowleaf Game Preserve, Charob Lake, Chelsea Sports Complex, Ballantrae Golf Club, Ballantrae Pool and Coker Park.The below results are primarily rent to own homes in :
Pelham is a growing city in central Alabama that incorporates Oak Mountain State Park. This area is less than 20 miles south of Birmingham and about 70 miles north of Montgomery. The southern tip of the Talladega National Forest is less than a one-hour drive to the east and allows residents to hike, mountain bike and enjoy other recreational sports throughout the year. Some of the biggest attractions closer to town include the Yellowleaf Game Preserve, Charob Lake, Chelsea Sports Complex, Ballantrae Golf Club, Ballantrae Pool and Coker Park.The below results are primarily rent to own homes in :
The City of Pelham was incorporated in 1964, and there were nearly 1,000 people residing within city limits by 1970. The population grew rapidly in the early years, reaching more than 6,000 residents by 1980. That fast pace of growth continued for many years, allowing the city to boast more than 23,000 residents by 2017. The city was named in honor of a confederate officer in the American Civil War named John Pelham. In 2010, the median income per Pelham household was nearly $70,000, and the median income per family was round $80,000. Pelham residents are served by Pelham City Schools, which includes Pelham High School, two elementary schools and one middle school.
Buying vs. Rent to Own Homes
There are a few situations in which rent to own makes sense when you have the option to purchase. A good situation to rent to own is when you’re not sure about a home you’re looking at buying, and you want to test it out for a bit before making a final decision. This way, you have less money on the line if you change your mind.
Renting to own is also a good option if you’re close to qualifying for financing, but you need a little bit more time to get there.
Renting to own doesn’t trap you in a lease like normal renting does – you can buy the home whenever you’re ready. That’s why it’s the good option if you almost have a large enough down payment, if your credit score is close to where you need it to be or if you just need a little more time at your job to build your job history. It also works when you’re waiting for your old home to sell so that you have the cash to purchase your new home.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
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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