Rent to own is a great strategy for both the buyer and seller. The renter can get their feet wet in an area before making that big purchase, while still collecting rent from it throughout their time there; meanwhile you’re getting paid even if they don’t stay too long!
Rent-to-own contracts come in two different “flavors,” and both have their advantages. The option to buy lets you decide if at the end of your rental period, whether or not there’s a chance for purchase. The contract allows the buyer time to save up and find financing that works for them. If they cannot qualify, this document lets you off the hook without Lawyer fees in return!
At SellThatHome, we buy houses with cash. If you need to sell your house fast and don’t want the hassle of dealing directly with buyers or sellers then contact us today by calling (407) 228-3682 for a consultation on how our company can help get that done!
Be A Master of Negotiation
When selling your house via rent to own, the terms of contract will be tailored towards you. You can negotiate what repairs are made and how much extra money is added on top of monthly rent for deposit purposes; this way it’s an even swap with both parties taking home something they want!
A Different Set of Buyers
Rent to own offers you the best of both worlds. You will have more buyers when it comes time for sale, as people are interested in trying before they buy! This gives the potential buyer an opportunity to buy your house after living there for a few years. They can fall in love with it or decide maybe this isn’t the best house for their family before committing to homeownership. If they decide not to purchase, you will be able list your property again as rent-to own!
More Money in Your Pocket
When selling your house via rent to own, you can expect a higher purchase price locked-in if the renter does decide to buy. The buyer will be willing pay more for an opportunity like this one! Also knowing that they have such great value as well is very comforting during these uncertain times where everything changes constantly.
When you sell your house via rent-to-own, an option fee should be placed on the contract. This allows the renter to choose to purchase the house or not at the end of their rental term, typically after 3 years. The option fee is non-refundable, even if they do not choose to purchase the house. Also, there is usually an additional amount added to each month’s rent that can be used as a deposit for the house and in many cases it’s also non-refundable.
Stack Up Rent Payments
If you don’t need to sell your house right away, the monthly income will last for at least 2 years and usually 3 when selling via rent-to-own. You could use this money to pay your mortgage or invest in another asset. You might want to save some of the cash for an emergency fund and create one earmarked specifically towards something special, like a vacation at home with family!
If you are in need of a fast sale for your home, we can help. At SellThatHome our priority is making the process as simple and hassle free as possible with quick cash offers that close quickly! If you’re looking to sell your house, then SellThatHome can help. Our agents will work with you and guide through the process so that it’s as easy for both parties involved! Call us at (407) 228-3682 or send an email today if selling is something on your mind – we’d love get in touch!