Wilson Investment Properties.com
Renting or leasing to own is becoming more of a acceptable way of bringing homebuyers and homesellers together. As the financial crisis of the past few years drags on with fewer buyers qualified, it has led to homesellers looking for alternative ways of selling their homes.
The financial crisis led to many banks collasping or mergers with larger banks. The collasping of these financial institutions has caused a tightening of the criteria that banks use to qualify a consumer for a mortgage. Coupled that with the flood of foreclosures on the market. Which causes home prices to fall and the days on the market to increase. Rent or leasing to own has become a great way for home sellers to get the asking price they want as well as get the home off the market more easily.
The longer a home remains on the market buyers begin to wonder if there might be something wrong with the home. Also the more days on the market, leads to home sellers lowering the asking price which also send the message of distress either with the home or the homeowner.
This is where renting or leasing to own can bring home seller and home buyer together. Rent to own also known as lease with the option to buy is a transaction in which the buyer agrees to rent the desired property for a period of time with the option of purchasing at a later date. In exchange for a down payment, the tenant is guaranteed an exclusive right to purchase the home within the agreed time frame. This means you can lock in the low prices available today and close on the home in the future when you are able to qualify for traditional financing such as FHA, VA or conventional loan. Rent to Own transactions are only for people who have a realistic chance of qualifying for a new mortgage before the end of the Rent to Own agreement period.
We have a program where we purchase discounted homes and sell them to a end buyer using the rent or lease to own option.Visit our website Wilson Real Estate Investment, LLC. for more information or join our lease option list. Let us know exactly the area, type, bedroom and bath requirements you need. As soon as a property becomes available that fit your criteria you will be notified first.
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