Rent to Own Homes in Purvis
Purvis is a small city located just west of Interstate 59 in southern Mississippi. The city is approximately 15 miles south of Hattiesburg and about 60 miles north of Biloxi and other towns resting on the Gulf of Mexico. This area is just west of the De Soto National Forest and is home to recreational areas like Bennetts Memorial Park, Lamar County Fairgrounds and Purvis City Park. This local park is dedicated to World War II servicemen.The below results are primarily rent to own homes in :
Purvis is a small city located just west of Interstate 59 in southern Mississippi. The city is approximately 15 miles south of Hattiesburg and about 60 miles north of Biloxi and other towns resting on the Gulf of Mexico. This area is just west of the De Soto National Forest and is home to recreational areas like Bennetts Memorial Park, Lamar County Fairgrounds and Purvis City Park. This local park is dedicated to World War II servicemen.The below results are primarily rent to own homes in :
The city of Purvis was originally founded by Thomas Melville Purves and his wife Dorothy Abney. There are now more than 2,000 people residing within city limits, and the town grew by approximately 300 people between 2000 and 2016. Residents have some job and entertainment opportunities locally, but many commute to surrounding areas for more options. Some nearby attractions include Pine Creek Golf Club, Paul B. Johnson State Park and the Hattiesburg Zoo. Purvis residents are served by the Lamar County School District. Local public schools include Purvis Upper and Purvis Lower Elementary Schools, Purvis Middle School and Purvis High School. There are also two private schools serving the community, so residents have an alternative to public school. This school district serves as a major employer for Purvis.
Buying vs. Rent to Own Homes
Renting to own a home and buying a house have the same steps, just on different timetables.
When you buy a house, you either pay with cash or you make monthly payments to a mortgage or some other kind of financing option for a set time frame.
When you rent to own a home you pay an option fee, which is later credited toward the purchase of the home, and then you make monthly rent payments until you’re sure you want to buy this house and you can secure financing. Then, you do the same things you would if you were buying a house – just make sure you do it before the end of the lease term so that you don’t lose any of the money you’ve negotiated.
When you can choose between the two, buying might be the right option because your monthly payments will go towards equity in a home as opposed to someone else’s pocket. However, lease-options get you to the same place with a little more time.
Rent to Own Realtors
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
About Our Listings
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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