Rent to Own Homes in Randleman
From its name to its development, Randleman history is rooted in its long-standing mills. In 1800, Dicks Grist Mill opened, and the town took the name of Dicks Crossing. When Union Factory was built in the area in 1848, the town became known as Union. John H. Ferree and John Banner Randleman bought Union Factory, changed the factory’s name to Randleman Manufacturing Company and eventually began developing other mills such as Naomi Mills. To honor John B. Randleman's contributions to the community, the town's name was ultimately changed to Randleman Mills.The below results are primarily rent to own homes in :
From its name to its development, Randleman history is rooted in its long-standing mills. In 1800, Dicks Grist Mill opened, and the town took the name of Dicks Crossing. When Union Factory was built in the area in 1848, the town became known as Union. John H. Ferree and John Banner Randleman bought Union Factory, changed the factory’s name to Randleman Manufacturing Company and eventually began developing other mills such as Naomi Mills. To honor John B. Randleman's contributions to the community, the town's name was ultimately changed to Randleman Mills.The below results are primarily rent to own homes in :
By 1900, the railroad ran through town, connecting Randleman with High Point, Asheboro and beyond. This transit route encouraged more development, and soon the establishment of Randleman Hosiery Mills, Marie Antoinette and Plaidville Mills cemented the town’s importance to regional and national manufacturing. Today, manufacturing is still strong in Randleman, although manufacturing has expanded to textiles, furnishings and furniture. Some of the county’s top employers include Commonwealth Hosiery Mills, NC Upholstery, Rheem Manufacturing, Deep River Dyeing Company, United Brass Works, Timken Company and Hughes Furniture Industries. NASCAR is a long-standing tradition in town too. Legendary racer Richard Petty and his family have roots in Randleman, and the town celebrates this heritage with an annual NASCAR Day festival. Other popular local events include Market & Music concerts from April to August and The North Carolina Food Truck State Championship. Local schools are operated by Randolph County School System, with most local children attending Randleman Elementary, Randleman Middle School and Randleman High 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
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
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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