Rent to Own Homes in Tallassee
The Tallassee Falls Manufacturing Company – a textile mill – was established in 1841, and eventually came to embrace 14 separate plants and 227,000 spindles. The first cotton mill was built in 1844. Textiles became an important industry for the town. During the Civil War, Tallassee supplied Confederate soldiers. And cloth for tents, sails, and cots was manufactured and supplied to American troops during both world wars.The below results are primarily rent to own homes in Elmore County, AL:
The Tallassee Falls Manufacturing Company – a textile mill – was established in 1841, and eventually came to embrace 14 separate plants and 227,000 spindles. The first cotton mill was built in 1844. Textiles became an important industry for the town. During the Civil War, Tallassee supplied Confederate soldiers. And cloth for tents, sails, and cots was manufactured and supplied to American troops during both world wars.The below results are primarily rent to own homes in Elmore County, AL:
Situated on the Tallapoosa River, Tallassee is about seven miles south of Lake Martin, one of the largest man-made lakes in the country. It’s a popular area for swimming, boating, fishing, camping, and golfing. The state capital, Montgomery, is about 33 miles to the west and Columbus, Georgia lies approximately 62 miles east. The city of Atlanta is 140 miles to the northeast.
Buying a Home in Tallassee
The median home price in this small Alabama town is $106,000, which is 43 percent below the national average. Current home listings range from $49,900 to $1.5 million. About 57 percent of the residential real estate is owner occupied.
The median age of Tallassee’s residents is 37.7, and about 45 percent of the population is married. The median family income is $32,000.
The city is served by the Tallassee City School System, which was established in 1915. An elementary school, middle school, and high school comprise the system. The majority of students in Tallassee attend these schools.
Buying vs. Rent to Own Homes
Tallassee may already sound like an attractive place to settle and put down roots. But getting financing for a home can be a long process requiring a down payment and pre-qualification. Maybe you don’t have that kind of cash or think you won’t qualify. There is an alternative. Many are taking advantage of rent-to-own options, where renters agree to live in a home for a specified period of time and, at the conclusion of the period, they have the option to buy. Part of each month’s rent is applied toward a down payment to eventually buy the house. Renters who may not be able to afford a large outlay of cash for a down payment can still look forward to becoming homeowners.
Summary
Located in the forested Emerald Mountains, a small chain of the Appalachians, Tallassee is surrounded by natural beauty. The small-town atmosphere, low housing cost, mild southern climate, and proximity to larger metropolitan areas make it a city worth thinking about if you’re considering a move.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
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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