Rent to Own Homes in Racine
The county seat of Racine County, Racine is best known as a home to many corporate headquarters and manufacturing operations. Locals often find employment at large facilities such as Wheaton Franciscan Healthcare, SC Johnson & Son Inc., CNH Industrial, Emerson Electric and Modine Manufacturing Company.The below results are primarily rent to own homes in :
The county seat of Racine County, Racine is best known as a home to many corporate headquarters and manufacturing operations. Locals often find employment at large facilities such as Wheaton Franciscan Healthcare, SC Johnson & Son Inc., CNH Industrial, Emerson Electric and Modine Manufacturing Company.The below results are primarily rent to own homes in :
While not a large city, Racine offers all of the cultural and recreational amenities commonly found in urban areas. Locals can enjoy a wide variety of art at the nationally recognized Racine Art Museum and Wustum Museum of Fine Art. Several theater groups and venues also keep residents entertained, including Haylofters Malt House Theatre, Over Our Head Players and Racine Theatre Guild. Frank Lloyd Wright designed several buildings in Racine, making the town a popular spot for architecture and design enthusiasts. Dozens of parks are located around town, providing a wide range of recreational options. The city also operates a Splash Pad and a skateboard park. The city’s North Beach is a Certified Blue Wave clean beach, featuring sand volleyball facilities, live music on summer weekends, a kids’ playground and a waterfront pathway. Racine Zoo is also a popular spot for local families. Racine is one of Wisconsin’s most historic towns, and its educational system is historic too. Racine High School was the first public high school in Wisconsin, dating back to 1852. Although the new Racine County Courthouse was built on the original site of Racine High School, Racine Unified School District continues to provide highly respected schools.
Buying vs. Rent to Own Homes
To buy a house, you (1) look at the homes available for purchase, (2) pick the house you want, (3) pay the seller the cost of the home and (4) you get the house. That’s the basic gist of the traditional home buying process.
All the steps of the traditional home buying process are present in the rent to own process. The difference is that renting to own has an additional step between Step 2 and Step 3. Step 2.5 is to rent the home for a maximum of three years until you are ready to continue to Step 3.
During Step 2.5, you’re working on improving your credit score, building a steady job history and saving up a down payment so that you can qualify for financing. Once you have financing, you can move on to Step 3.
Rent to own is a good way to prepare for buying a property. Once you do buy, you won’t have to spend money on rent any longer. So, the sooner you can buy, the better.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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