Rent to own agreements are a win-win solution for both the buyer and seller. When you are considering a rent to own agreement it is important to know there are two types, an option to buy or an agreement to buy. With the option to buy, the buyers can “test” the property as if it were their own. At the end of the option period, they have the option to buy the property or to leave. Now, with an agreement to buy, the buyer is obligated to follow through with the purchase contract. As the property owner, you have the ability to choose which type of agreement you want to utilize. Read on to find out about these five advantages to using a rent to own agreement to sell your house in Little Rock
Different Types of Buyers
The MLS is very competitive these days and allot of buyers who can not get loans are looking for other ways to become homeowners. there are a large amount of people who would make great homeowners but they just have bad financial marks on their record and cannot get traditional bank loans – which makes rent to own properties highly sought after. With a very low inventory and high demand in this market, rent to own is a great way to sell your house in Little Rock.
A fast sale of your property is another advantage of using a rent to own agreement to sell your house in Little Rock. The cool part about this is that you are still the owner of the property but your mortgage is being paid by the renter, you have no holding cost, and you don’t have to deal with selling on the market. The best part about all this is you don’t have to deal with buyers that need to get conventional loans.
Down Payment in Your Pocket
A down payment into a rent to own agreement is expected to secure the deal. is an excellent financial boost and a perk of using a rent to own agreement in Little Rock. This is a nice cherry on top with extra money going into your pocket up front. If you need another reason to feel secure, if your buyer were to terminate the agreement you keep the downpayment and all other money/equity that was accumulated during the agreement time.
You can be sure that you will have good tenants that will respect the property and stay long term. This is because they have already invested a sizable amount of money into the agreement and their goal is to ultimately own the property outright at the end of the agreement. Additionally, because they act as if they are the owners, the tenants are typically responsible for the maintenance and repairs. This is a fantastic advantage of using a rent to own agreement to sell your house in Little Rock.
Get Market Value +
You are in control which means you make the final decisions. When it comes to rent-to-own contracts, what you are technically doing is just keeping your home off of the market. During that time your house could have appreciated and you can set the sale price higher when the agreement ends. This gain in appreciation and overall value of your home is another advantage of using a rent to own agreement to sell your house in Little Rock.
Call Sunny Day Homes LLC to discuss these and many more advantages of using a rent to own agreement to sell your house in Little Rock. Sunny Day Homes LLC makes the process easy and can help you with every step! Send us a message or call (501) 400-0505 today!