Rent to Own Homes in Prescott Valley
Just to the southwest of Flagstaff and Sedona sits the city of Prescott Valley, Arizona, in Yavapai County. Prescott Valley and its neighboring three townships, Prescott, Chino Valley, and Dewey-Humboldt are locally known as the "Quad-City area." The population of Prescott Valley sits at around 45.5 thousand people, and is the highest populated of the quad-cities. For commuters and transportation consideration, Prescott Valley is closely connected to Arizona State Routes 89, 89A, and 69, which are connected to Interstates 17 and 40. The city is also home to the Prescott Valley Event Center, which is a 5 thousand seat arena that hosts a variety of different evens, including basketball, wrestling, football, and hockey tournaments, music concerts, and so on.The below results are primarily rent to own homes in :
Just to the southwest of Flagstaff and Sedona sits the city of Prescott Valley, Arizona, in Yavapai County. Prescott Valley and its neighboring three townships, Prescott, Chino Valley, and Dewey-Humboldt are locally known as the "Quad-City area." The population of Prescott Valley sits at around 45.5 thousand people, and is the highest populated of the quad-cities. For commuters and transportation consideration, Prescott Valley is closely connected to Arizona State Routes 89, 89A, and 69, which are connected to Interstates 17 and 40. The city is also home to the Prescott Valley Event Center, which is a 5 thousand seat arena that hosts a variety of different evens, including basketball, wrestling, football, and hockey tournaments, music concerts, and so on.The below results are primarily rent to own homes in :
The city got its start in the 1960s when Prescott Valley Incorporated, a Phoenix-based real estate company, purchased a plot of land just to the east of the city of Prescott. The land was named Lonesome Valley. Prescott Valley Inc. began selling lots almost immediately, and within a decade, one thousand residents had purchased homes in the area. In 1978, the area changed its name to Prescott Valley. Prescott Valley is also well known for its local Prescott Valley's Mountain Valley Splash. This outdoor aquatic center offers swimming-related activities and facilities for residents of all ages. And in the Arizona summer heat, there are few places better.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
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
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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