The Basics of Renting to Own a Home | Right of Middle

If you are hoping to own a home one day, there are a few different options you may want to consider. Renting to own is a fantastic option that many buyers aren?t even aware of.

Take a look at local home listings in your area. There are probably a large number of homes up for sale. People place their homes up for sale and then relocate to their new home. They wait for the previous home to attract a buyer. They?ve followed all the steps involved with selling a home. They?ve researched and priced the home right and hired a real estate professional. Few residential homes sell rapidly today. Often, residential homes require a boost to make them more attractive to the buying public.

One way to add interest to the home up for sale is to offer a renting to own option. This is a very attractive offer that should immediately drive up interest in any property. A rent to own is also called a lease to own in the real estate industry. People who are on a strict budget or strapped for cash are attracted to this type of offer. Commonly, the offer is attractive because they might have trouble with a down-payment on a home.

The renting to own a home option is a winning situation for all parties involved in the real estate transaction. Here is how the renting to own option works. The house is rented to a party for a specified monthly payment and at the end of a set term they are presented with the option to buy the home they previously rented. If they accept the option to buy, a portion of their monthly rental payments are credited toward a down-payment to buy the home. Buyers who otherwise would not be able to afford a home are able to purchase with this option. Sellers are advanced rental money and money towards a down payment on the property.

The renting to own a home option is very popular among new home buyers. Ownerwiz Realty professionals will take the client by the hand and explain the entire process to them. We will review offers currently on the market together and match the client with the perfect property. We want to give all our clients the opportunity to rent to own a home. Of course, we know if the client is pleased with the home they will certainly select the option to own after the lease expires. Contact an Ownerwiz real estate professional for more information on the renting to own a home process.

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