Rent to Own Homes in Yazoo City
You’ll find Yazoo City approximately 45 miles north of Jackson in west-central Mississippi. This area is west of Interstate 55 and east of the Mississippi River. A network of U.S. and state routes cross through and surround the city, ensuring that residents can reach surrounding communities for employment and entertainment opportunities. Some of the biggest natural attractions in the surrounding area include the Hillside National Wildlife Refuge, the Panther Swamp Wildlife Refuge and the Delta National Forest.The below results are primarily rent to own homes in :
You’ll find Yazoo City approximately 45 miles north of Jackson in west-central Mississippi. This area is west of Interstate 55 and east of the Mississippi River. A network of U.S. and state routes cross through and surround the city, ensuring that residents can reach surrounding communities for employment and entertainment opportunities. Some of the biggest natural attractions in the surrounding area include the Hillside National Wildlife Refuge, the Panther Swamp Wildlife Refuge and the Delta National Forest.The below results are primarily rent to own homes in :
The area that we now call Yazoo City was originally known as Hannan’s Bluff. It was incorporated in 1824, but the current name wasn’t assigned until 1841. The city has a rich history that includes a yellow fever epidemic, American Civil War battles and tragic fires, floods and tornadoes. Today, the city is best known as a great stopping point for travelers interested in shopping. The city is home to many antique shops, boutiques, gift shops and other small businesses. This includes a market in downtown Yazoo City that sells everything from home goods to collectibles. Yazoo City was home to more than 2,500 people in 1880, and the population grew to more than 14,000 residents by 2010. The population in 2016 was just over 11,000. This city is a part of Yazoo County and is served by the Yazoo City Municipal School District.
Buying vs. Rent to Own Homes
When you rent to own, you pay an option fee and rent the home for up to three years while prepping for financing approval. Then, you buy it as soon as you’re ready. When you buy a home normally, you skip to the third step of the process.
Basically, when you’re almost ready to own a home, you should consider renting to own, but when you are ready, you should go ahead and purchase it.
Rent to own gives you more time to improve your credit score or save up a greater down payment in preparation for buying a house. Ultimately, rent to own is more expensive than outright buying a property because you’re paying rent to the owner every month. However, lease-options are a much better alternative than renting a property because you’re building some equity in the home, just not as much as you will once you purchase.
Once you own a home, you will likely be making monthly payments to a mortgage. Mortgage payments are typically around the same amount as rent to own payments, but all of it – minus interest, PMI and taxes – builds equity in the property, which directly benefits you.
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
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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