Rent to Own Homes in Swansea
Swansea,... Read More
Swansea, South Carolina, is a small town of 827 people located in Lexington county which is near the center of the state. The United States Census Bureau measures the overall area of the town at 1.1 square miles of land with an extra 0.1 square miles of water. Swansea is a part of the larger Columbia, South Carolina Metropolitan Statistical Area with a median income for households sitting at around 32.7 thousand dollars and for families at 39 thousand dollars.The below results are primarily rent to own homes in :
Swansea,... Read More
Swansea, South Carolina, is a small town of 827 people located in Lexington county which is near the center of the state. The United States Census Bureau measures the overall area of the town at 1.1 square miles of land with an extra 0.1 square miles of water. Swansea is a part of the larger Columbia, South Carolina Metropolitan Statistical Area with a median income for households sitting at around 32.7 thousand dollars and for families at 39 thousand dollars.The below results are primarily rent to own homes in :
Fourth Creek and Bull Swamp Creek flow through Swansea as well as neighboring communities Gaston and North. Gaston is slightly larger than Swansea with a population of 1.6 thousand people while North is slightly smaller with a population of only 754 people. Swansea itself is known for being the former home of a couple of famous National Football League players including Bryant McNeal, a defensive end free agent and current head coach of North Middle School in North, South Carolina, and Victor Riley, a former offensive Tackle who was last signed with the Houston Texans in 2005. Swansea is also known as the former home of American author Julia Elliott who currently teaches at the University of South Carolina in the city of Columbia.
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
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
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.
Find properties near me with Rent to Own Labs.
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