Using a rent-to-own agreement can be a great solution to selling for both the buyer and the seller. There are two basic types of rent-to-own agreements, an option to buy or an agreement to buy. With the option, the buyers can try out the property as if it were their own. At the end of the agreed-upon period, they can either buy or walk away. Just as it sounds, with an agreement to buy, the buyer must follow through with the contract. Because you hold the property, you also hold the cards in the negotiations. Ready to learn more? Read on to find out about these five perks of using a rent-to-own agreement to sell your house in NKY or Cincinnati. Both Buyers and sellers can benefit from the rent-to-own arrangement. Buyers or renters can have exclusive rights to purchase at a specific point in the future. As for sellers, they would subsequently retain larger profits on their home sales for future home purchases or investments. Read further to learn more about the advantage of using a
Different Sector of Buyers
While competition is fierce for buyers on the MLS, buyers who may not quite fit the bill for the traditional loan are just waiting for a chance at attaining homeownership. Because of their inability to qualify for conventional loans, and opportunities are limited in this market sector, rent-to-own properties rarely sit for very long. Due to low supply and high demand, rent to own is a seller’s market, which is a great perk of using a rent to own agreement to sell your house in NKY or Cincinnati
A quick sale is a money-saving perk of using a rent-to-own agreement. While you still maintain ownership of the property, you won’t need to be concerned about paying holding costs, waiting for the right buyer to come along on the traditional market. Because you’re the financier, you won’t have to wait for all of the processes that gobble up time with conventional loans.
Collect a “Down Payment”
A sizeable down payment to secure the deal is an excellent financial boost and a perk of selling your house using a rent-to-own agreement. The best part of all, should your option buyers walk away or your agreement buyers fail to gain financing, you keep all of the monies you’ve collected over the term of the agreement, including the large down payment.
Confidence in Your Tenants
Because your tenants have placed so much money into the property, you can rest assured they won’t walk away without good reason before the contract ends. Additionally, because they act as if they are the owners, the tenants are typically responsible for the maintenance and repairs.
Get Market Value +
Holding the cards means you set the rules of the game. When it comes to rent-to-own contracts, you’re, in essence, keeping your home off of the market for a specific period. Making an educated estimate of the home’s value may be when the contract ends, you can set the sale price at a higher value than the current market. Additionally, you can charge a higher than average monthly rent while collecting an additional amount towards the purchase as a further part of the down payment, spread out over time. This immediate gain in value is another perk of using a rent to own agreement to sell your house in Cincinnati. On the other side of the coin, if the market value drops, you avoid an equity loss.
Call We Buy NKY Houses to discuss these and many more perks of selling your house using a rent-to-own agreement in NKY Cincinnati. We Buy NKY Houses makes the process easy and can help you with every step! Send us a message or call (859) 412-1940 today!
How To Sell Your House In A Rent-To-Own Deal!
In a rent-to-own transaction, everything is negotiable. However, the lease agreement should be broad but carefully detailed to avoid problems down the road.
If it’s your first time selling your home and you don’t know where to start, you’d probably have these questions in mind! What is a typical rent-to-own agreement? How does a rent-to-own work for the seller? Can a seller back out of a rent-to-own agreement? How does a rent-to-own work for the seller? What are the advantages of rent to own? Should I sell my house rent to own? Then contact us now!
When you call our hotline, you’ll be connected with real estate experts who will listen to the specifics of your situation before making recommendations and answering any questions you have about a rent-to-own agreement to sell your house.
We Buy NKY Houses offers assistance all over Greater Cincinnati and places like Bellevue, Burlington, Covington, Cold Spring, Crescent Springs, Edgewood, Columbia-Tusculum, Deer Park, Evanston, Fairfield, Forest Park, Hamilton, Hyde Park, Lebanon, Liberty Township, Bellevue, Burlington, Covington, Cold Spring, Crescent Springs, Edgewood, Elsmere, Erlanger, Florence and more.