Rent to Own Homes in Temple Terrace
Temple Terrace is located on the western side of Florida's peninsula, in the northern suburbs of Tampa. Grand sand live oak trees punctuate the landscape in this Hillsborough County community, earning it the designation as a Tree City USA. Temple Terrace has a population of nearly 25,000 residents, as estimated by the United States Census Bureau.The below results are primarily rent to own homes in :
Temple Terrace is located on the western side of Florida's peninsula, in the northern suburbs of Tampa. Grand sand live oak trees punctuate the landscape in this Hillsborough County community, earning it the designation as a Tree City USA. Temple Terrace has a population of nearly 25,000 residents, as estimated by the United States Census Bureau.The below results are primarily rent to own homes in :
Temple Terrace was the first location in the United States to produce large crops of the Temple orange, a hybrid citrus fruit combining the tangerine and common orange. Temple Terrace's name originated from the name of this Florida delicacy as well as the terrain of the area by the Hillsborough River. Temple Terrace has a history as one of the first planned communities in the United States. The town plan included a golf course, and the original houses and buildings were constructed in the Mediterranean-Revival style. The Temple Terrace Golf and Country Club has earned recognition on the National Register of Historic Places, and continues to serve as a respite for residents today. When it is time for family-friendly fun, Temple Terrace residents enjoy a location near the Museum of Science and Industry and Busch Gardens, two day trips that will entertain adults and children alike.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
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
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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