Selling your house in Northern Kentucky with a rent to own agreement can be the best way to sell fast for the price you want. Learn more about how to do it in our latest post!
If you’re looking to sell your home then you may want to consider selling your house via rent to own. If you are able to delay receiving the full amount of the home, you will likely be able to find a buyer much sooner while collecting the price you want for the home. In addition, selling your house via rent to own will provide you with cash from a downpayment upfront in addition to a higher than average rent payment each month. You will be able to make money while collecting the full price for the home in 1-2 years. Selling in this manner can be very beneficial for homeowners who want to sell their houses fast and for a great price.
Set Your Criteria
While opening your house to rent to own buyers, you’ll be giving a whole new pool of people the opportunity to buy your house. That said, you can’t enter into an agreement with just anyone. You’ll need to determine what you will accept as far as credit score, downpayment amount, and length of the agreement.
You are not entering into an agreement with your potential buyer indefinitely until they are able to buy outright. Instead, you need to work with a potential buyer who will be able to follow through on their end of the deal. Even if they have the best intentions, being able to actually follow through on the agreement is a different story. Before setting up a rent to own agreement for selling your house in Northern Kentucky, make sure you know what you will accept and what you are looking for in a potential buyer.
Agree On The Terms
Once you know what kind of tenant you are looking for, you will need to find someone who will agree to your terms. You will need to agree on the rent paid each month, the downpayment amount, and any portion of the rent that goes toward the purchase of the home. You will also need to define a timeframe that works for both parties. This is not an indefinite agreement. Within 1-3 years the renter must purchase the home outright or walk away, losing their downpayment and option to buy in the process.
Create A Legal Contract
When using a rent to own agreement for selling your house in Northern Kentucky, it is crucial that everything is set up legally. You don’t want to be hit with a lawsuit or find yourself in a place where you need to file one yourself. A rent to own agreement will be detailed, covering every scenario possible as to protect all parties. We Buy NKY Houses can help you facilitate the process, of selling your house via a rent to own agreement, making sure everything is handled legally and professionally.
Having A Way Out
Just like a rental situation, in a rent to own agreement, you are able to evict the tenant if they aren’t paying rent or if they have violated the agreement in any sort of way. While you don’t want it to ever come to this, you should be versed in the eviction process, knowing what your rights and what the tenant’s rights are. The house is technically yours until it has been paid for in full. Until that day, you need to protect it, making sure nobody is occupying the property that will cause damage or lower the property value.
Learn more about selling your house via rent to own by reaching out to our team today! (859) 412-1940
If you have questions like: How does rent to own work for the seller?
How does rent to own process work? Then give us a call! Our Real estate experts will be able to answer any questions you have, can make recommendations and may be able to provide you an offer over the phone!
We Buy NKY Houses buys houses directly – and if that doesn’t sound good to you, we can help you list on the MLS and sell for top-dollar, or, we can do all of the work for you, you choose! There are many more reasons why Northern Kentucky real estate investors should also be licensed agents providing the most beneficial aspects of each and the conveniences of both. No matter what obstacles you may be facing, We Buy NKY Houses has the right option in Northern Kentucky for all of your real estate needs. We Buy NKY Houses answers concerns about selling your property or any questions you may have with absolutely no obligation. At We Buy NKY Houses, our hybrid professional buyer real estate agents are ready to help you today. Send us a message or call We Buy NKY Houses at (859) 412-1940