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Are Rent to Own Schemes goodif you have to sell a house inChicago?
If I had to sell my house, I will certainly opt for rent to own deals in the market. Here aresome of the reasons rent-to-own can be beneficial for you as a home seller:1.
Higher Purchase Price
– Rent to own sales typically command a price premium over traditional sales. The buyer is paying extra for the flexibility he receives by not having todo an outright purchase immediately.2.
Higher Rent
– You may be able to charge more for monthly rent in a rent to own thanyou would for just a straight rental.3.
Cash Flow – 
If your monthly payments are less than the monthly rent, the differencegoes in your pocket.4.
Option Fee – 
This upfront fee paid to you by your buyer is what secures the purchase price down the road. If the buyer closes on the home, it would be applied towards the purchase price. If the buyer elects to not purchase the home, the option fee is forfeitedand still remains yours. Either way you win.5.
Eliminates the Burden of the Mortgage Payment
– If you have already moved on toyour next home and your old house is sitting empty while you try to sell it, then you aresaddled with TWO mortgage payments. Placing a rent to own buyer that pays that extramortgage can take away your pain.6.
Getting Your Home Sold faster
– In slow selling markets offering your home as arent to own can help you get a buyer into the house much faster.Analysts say that the best part of the Rent To Own process is finding a tenant that willtake care of your home for the long-term. There is nothing like having a tenant in your rental home or investment property, but in all reality, most of the time a tenant does nottake care of the property as best they should. At the same time, a Rent To Own tenant buyer is taking care of your home like it was their own home.You can make money too through rent to own option:1.Down Payment. You are receiving a larger than normal down payment (typically3% to 5% of the purchase price of the home). 2.The Rent. You continue to collect rent just like you would from a normal tenant.3.Pay Down Your Mortgage. That’s right, you’re paying down your mortgage theentire time your tenant buyer is repairing their credit; so you’re basically earningequity in every month’s payment which adds up.
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