It’s not uncommon to see craigslist adverts that provide people with a chance to own a home with just a small payment upfront and then “earn your way” into a house over time.
There are a few names for that… but “rent to own”, “lease to own”, and “lease purchase” are a few.
If you’re looking for a quality rent to own house in Philadelphia… you may be wondering how you can find free rent to own home listings in Philadelphia to see if you can find a house that’s right for you.
First, if you’re not sure what a rent to own house is… or the process… keep reading this website and check out our FAQ section.
Renting to own a local Philadelphia house can be a great option for people who are struggling to qualify for a home mortgage because of their credit or not enough cash for a large down payment.
This option benefits both the buyer as well as the seller because the former gets to move into his or her dream home quickly while the latter gets a series of long term payments and is able to sell their house to a broader pool of potential “tenant buyers”.
Finding the right rent to own home listings is Philadelphia can be tough sometimes.
What we’d suggest is that you do your research and get on a few lists that show you local rent to own houses in and around Philadelphia.
Places you can find these lists of available Philadelphia Pennsylvania rent to own houses…
A Bit More Info About Renting To Own A Philadelphia House…
The tougher lending standards and the declining buyer market are pushing sellers of houses in Philadelphia to help potential home buyers get into houses even though they can’t qualify for a bank loan.
The way our rent to own agreements work is, you as the buyer, are given a chance to rent the property for a given period of time with an option to buy the house sometime in the future…. usually 2 years from today.
That gives you as the buyer enough time to evaluate the neighborhoods, the house, and improve your financial situation before making a long term commitment to owning the property. Families can also move into the property even when they don’t have adequate financing power.
We love working with rent to own tenant / buyers because we get a tenant who has a long term vested interest in the property and we get a consistent rental payment while you improve your credit so you can get a home loan at the end of the agreement to buy the house.
There are pros and cons to renting to own a house… which we go over on this website and in other articles… and it’s advisable that you understand the pitfalls which comes with this form of home ownership… along with the huge benefits we can offer with our local rent to own / lease option house program.
So, what are you waiting for?
Now that you know how you can find free rent to own home listings in Philadelphia… now it’s time to start finding houses that fit what you’re looking for.
If you want to see what Local Philadelphia Rent To Own Homes we have available… go here >>
If you have any questions about the process or just want to chat about your situation… give us a call at: (215) 882-9828
We’re here for you and we look forward to working with you!
via WordPress https://ift.tt/2L5tzxR
Real estate investors across the country are turning to lease options in order to sell properties. It can bring in more cash in the long run and will give you the power and flexibility to focus on other investments in the meantime. In our latest post, we explain why real estate investor should consider lease options in Philadelphia!
As a real estate investor, you may have a property you want to sell but haven’t been able to unload at the price you want. It happens all the time but you don’t need to take a loss. By utilizing a lease option, you will be able to get the price you want, bring in extra income, without any risk. Keep reading to learn more about how lease options can benefit you!
Sell For The Price You Want
When you list a property in Philadelphia, there are no guarantees that you will get your asking price. You may find your property sits on the MLS stagnantly, forcing you to drop the price. By utilizing a rent to own, or lease agreement with a potential buyer, you will be able to receive the price you want. You will set your sale price in the beginning, letting the tenant know what they should expect. While they might try to negotiate the price, they don’t have much bargaining power, so what you ask for, you will likely get. The only thing to be aware of is any major market fluctuations while the agreement is in place. Even if prices rise dramatically, you will still need to sell them the home at the originally agreed upon price. On the flip side, if the market drops, you will still be able to get today’s price for it.
Generate More Income
Each month the tenant will pay you a higher than average price to rent the home. In some agreements, a percentage of this amount will go towards the down payment. In other cases, it does not. This all depends on the terms of your agreement. Either way, you will be generating more monthly income from the property than if you were to simply rent it out. You will also guarantee yourself a tenant over the lease term. They will have a sincere interest in the property, not wanting to break the lease for any reason.
With this greater interest in the property, you will find that your tenants will take extremely good care of the home. They will treat it as if it were there own, making the repairs and ensuring all maintenance is being taken care of. Some tenants will even want to complete upgrades or special projects to the home while living there. Of course, this is subject to your approval, but it can’t hurt having them add value to the home in case of a default. You can rest assured that they will not cause damage to the home or allow it to become damaged, run-down or dirty. They will have much more pride in the home than just your average tenant.
The tenant is going to do everything possible to make sure payments are received on time. If they default on their payments, the deal is off and you wind up keeping the additional amount they paid in rent each month. If this does happen, you can then opt to relist the property, with a whole new pool of prospective buyers. If it still isn’t the right time, you can find another candidate for a rent to own agreement. Either way, you will come out ahead.
Learn more about how lease options can benefit real estate investors in Philadelphia! Get in touch with Rapid Home Liquidation today! (215) 882-9828
via WordPress https://ift.tt/324BfY5
Are you thinking about buying a condo as an investment in Philadelphia? Dealing with an HOA can be difficult as an investment property owner. You’ll want to stay in the loop and make sure the tenants you have in place are respectful. Learn more about how to deal with an HOA for your Philadelphia property in our latest post!
You often hear horror stories about nightmare HOA’s who impose outlandish rules and site owners with ridiculous fines. However, in many communities, this isn’t the case. Many communities have great associations that help manage the community and improve the residents quality of life. Before purchasing a condo in Philadelphia, make sure you understand their role, your role, and how to communicate most effectively.
Know The Rules
Every HOA is set up a little differently. As such, the rules and responsibilities will be a bit different. While it may not seem like exciting reading material, carefully reviewing the bylaws, regulations, and rules of your HOA is imperative before buying. You don’t want to find out after the fact that you can’t do what you want to do with the property. By knowing the rules, you will be able to stay in compliance and avoid and unnecessary fines or confrontations. You will also be able to ensure the HOA is holding up their end of the deal by enforcing the policies outlined for the community.
When dealing with an HOA or owning a property in close proximity to so many other, disagreements are bound to arise. The best resolutions are found when both parties are respectful and take the time to hear each other out. Even if you are upset about something, hold your temper and work toward a peaceful resolution. Remember, these people aren’t going anywhere anytime soon, so you’ll want to keep the relationships are cordial as possible.
Stay In The Know
Just because you don’t live onsite doesn’t mean you shouldn’t take an interest in what’s going on. Keep abreast on issues going on in your community. If there is voting happening or an important meeting, be sure to cast your vote or attend the meeting if possible. Put yourself in your tenant’s shoes and what decisions will benefit them. After all, a happy tenant is much more likely to stick around for a while.
When you choose to invest in a condo, townhome, or multi-family property, you have to make sure your tenants understand the rules and will act accordingly. They need to be respectful to other tenants as well as the management. Any violation they incur will be passed on to you and can come with financial ramifications. Make sure to include provisions in your lease outlining what will happen if a tenant violates the rules of the community.
Make Your Voice Heard
If there is a need, a want, or a problem, don’t be afraid to speak up. Your HOA is ultimately there to serve the residents and owners, helping them with issues that arise. You pay fees to live there, so make sure you are joining a community where you will get your money’s worth.
Know How To Communicate
Some associations are best reached by email, others by phone. You’ll want to know the best way to contact the HOA and who you need to speak to. Keep communication open so that members of the HOA know you, your tenants, and how to reach the both of you. Creating friendly and open relationships from the start will help make any issues and differences of opinion easier to handle.
Learn more about dealing with an HOA in Philadelphia! Contact us today! (215) 882-9828
via WordPress https://ift.tt/31T7uJB
Real estate investors and private sellers are turning to lease options in order to sell property they no longer want. It can be a practical, efficient and lucrative way to sell. Learn more about how it works in our latest post!
Do you feel stuck or burdened by a home you want to sell? Have you tried listing it without any reasonable offers coming in? With a lease option, you can sell the house for the price you want, while making an extra income until the house closes. Keep reading to learn more about how to set it up, as well as the pros and cons it can offer you!
What Is It?
A lease to own agreement will give your tenant a way to lease your house with the option to buy at the end of the lease term. It is typically a win-win situation that will benefit both the buyer and seller. It isn’t always the first thing property owners think of when deciding to sell, but as you will see below, there are a number of benefits to consider.
What Are The Benefits?
It is highly unlikely that your tenants will want to break the lease. They have a sincere interest in the house and will be paying a higher than average rent plus a deposit they will lose if they decide to leave the property. If they default on the lease, the agreement is off and they are out the extra money they have spent.
Higher Than Average Rent Payments
In some cases, a portion of the monthly rent payments will go toward the down payment on the house. In other cases, the higher than average rent is pure profit. The inflated price is the cost of letting the tenant postpone the purchase by allowing them to lease.
Sell For The Price You Want
Seeing as the tenant is more eager to buy, you likely won’t have a problem with them agreeing to pay the price you want for the home. As long as it appraised at the price you want, your tenant will pay. If you list the house on the MLS, you won’t have any guarantees of getting the price you are after for the property. You may even have to lower the price if it isn’t selling right away.
Seeing as your tenant will have a much larger interest in the house, they will do more to take care of it than the average renter. They treat the house as if it were their own, going out of their way to keep things nice.
What Are The Drawbacks?
Locked In Price
The price is negotiated form the beginning, so if your home value jumps up 20% during the agreement, you will still have to sell for the pre-negotiated price.
You Won’t See Your Cash Right Away
You should only do a rent to own agreement if you do not need the cash from the house right away. While you will receive a deposit and higher rent payments, the balance owed to you won’t be paid for a couple of years.
How Do I Set It Up?
Setting up a lease to own agreement is similar to setting up a rental agreement but with an option to buy at the end of the lease term. As with any real estate agreement, the terms of the deal should be made very clear to both parties. Both the tenant and the owner need to know what their roles and responsibilities are in relation to the home. For example, in most cases, the tenant will be responsible for the repairs, maintenance and even the property taxes on the home during the duration of the lease period. Working with a professional such as Rapid Home Liquidation can help you to ensure the agreement is handled correctly.
Learn more about using a lease option to sell your house in Philadelphia! Get in touch with us today!
via WordPress https://ift.tt/2L3sQx5
Are you starting to look for rent to own houses in Philadelphia?
Rent to own homes (also called lease option or lease purchase) has become a popular way of getting into a house when your financial situation has thrown your house hunt for a curve.
But, you may have heard of some of the scams out there that have left lots of honest people out thousands of dollars instead of in a home of their dreams. Some recent tenant deposit taking schemes, mainly from predators using websites like Craigslist (which is a very legitimate website to find great rent to own houses) have made it into the news and has many would be rent to own tenant buyers nervous about whether or not the house they’re looking at is also a “scam”.
Rent to Own Home Scams in Philadelphia – How to Avoid Scams That Are Out There
There has been an increase in scams that are out to fleece either potential tenants or homeowners. Several forms of scams exist that have come out in recent years.
There are those scammers who take advantage of popular property buying and selling websites to scam potential tenants, especially foreigners.
They create counterfeit websites of the popular sites and put up enticing advertisements. Once a person falls for them, a series of email communication flows and the tenant makes a deposit, and that is it – once that deposit money is sent over to the scammer… it’s nearly impossible to track down who did it or how to get the money back.
The biggest scam that is out there for potential renters or rent to own buyers is described below.
Taking Deposits On A House They Don’t Own… Then Disappearing Into The Night
Some scammers are getting really smart about how they intend to part you with your hard earned money.
The biggest one today is where a scammer finds vacant properties where the owner of the house lives out of the area…
… they break into the house, take pictures, then they upload those pictures and a “for rent” or “rent to own” listing on websites like Craigslist.
The listing looks legitimate… so you go and look at it… maybe even meet the scammer face to face… they tell you there are other people looking to rent the house as well so you better put a deposit on it today… so you do.
What you don’t know is that that scammer had a whole slew of other potential renters visit the same house that day and put a deposit on the house as well.
The scammer then takes the deposits… cashes the checks… and disappears.
A version of this scam also can happen where you don’t even see the house and the scammer tells you that you may want to put a deposit on the house asap because there are others interested. So you do, even before you see the property in person, and your money is gone forever.
How To Avoid Rent to Own Scams – Some Quick Tips
Ok, so you know there are scammers out there.
Now… how do you avoid being a victim to a scam and how do you protect yourself during the process?
First off… verify that the person / company you’re dealing with is legitimate.
Our company, Rapid Home Liquidation, is registered with the state of Pennsylvania which you can verify online… and you can find our company listed on many online business directories where it’ll show all of our contact information. If you’re working with an individual (a person, not a company)… when you see the “owner”… if you feel anything is off at all… don’t be afraid to ask to see their drivers license for proof of their name and address… and write down their license plate number of their car before you leave.
Tip #1: Verify the identity and contact info of the person or company marketing the property so you know they’re honest and legitimate
Tip #2: Never give a cash deposit… and never hand a deposit check over without a contract in hand to a person you’ve verified is legitimate.
Tip #3: Don’t ever feel pressured to put a deposit down “today!” if you feel uncomfortable doing so. Trust your gut.
Tip #4: Search the address of the property online and see if you can find the name of the owner on record. If that doesn’t match up with the person you’re working with… ask that person for proof of their identity and ability to rent the house to you.
Tip #5: As a last resort, if you ever don’t feel right about it… just leave. There will always be more houses that will come around.
A quick rundown for you…
In conclusion, it is up to you to be diligent enough to avoid being scammed. They say when the deal is too sweet, think twice. Don’t rush into sealing deals before giving them a second thought. Hopefully these tips will help you avoid rent to own home scams in Philadelphia and arm you with a new sense of confidence when you’re out there looking for your next house!
Looking For A Reputable Rent To Own House In Philadelphia? See Our Available Properties Below!
We at Rapid Home Liquidation are one of the Philadelphia Pennsylvania area’s leading rent to own house experts.
If you have any questions about the rent to own process or just want to see if renting to own a house is right for you… don’t hesitate to reach out to us by giving us a call at (215) 882-9828 or email us on our Contact Page.
Plus, see the Philadelphia rent to own houses we have available and get on our Early Alert Email List to see new rent to own houses as they become available.
via WordPress https://ift.tt/2KKTYSD
Do you need to sell your land in Philadelphia? Finding the right buyer isn’t always as easy as selling a Philadelphia house. If you need to sell your land fast in Philadelphia, we can help you learn about the many ways you can sell!
It’s no secret that there is a smaller market for land than there is for residential properties. Finding a buyer for your land isn’t always as easy as finding a buyer for your home. Below, we offer landowners 4 easy ways to sell land in Philadelphia! Reach out to us at any time if you have questions about your land or the selling process!
Method #1: Work With A Developer
Depending on where you live, there are likely developers who want to build in your area. Take a look at who is buying and what they are paying. If the prices seem fair to you, reach out to the developer directly, letting them know your land is available and what you are willing to accept for the property. Doing so can eliminate the use of an agent, saving everyone time and money. Taking a direct approach puts the ball in your court, setting the tone for any negotiations that may take place.
Method #2: Sell Directly To An Investor
Working with the right investor such as Rapid Home Liquidation will ensure you are getting a fair price for your land. An investor will know how to facilitate the deal and make the process run efficiently and smoothly. When you work with our team, we can provide you with data on your property, recent sales, and a no-obligation offer. You won’t have to worry about haggling or negotiations. Our offers are always fair. Before committing to a selling method for your land in Philadelphia, find out what we can offer. You might be surprised at what we are able to do for you!
Method #3: Talk To The Neighbors
If you own a lot that is surrounded by other neighbors and houses, one of them might be your best potential buyer. Homeowners will love the idea of a bigger yard, room for their toys, or an addition to their house. Before hiring an agent to help you, reach out to those who live nearby. Let them know your lot is available and what you will accept. If nobody bites, you can move on to a different option outlined here.
Method #4: Highlight The Potential
If you opt to market the property in the effort to find a buyer, you’ll want to showcase the property as more than just a piece of land. You will want to paint a picture in potential buyer’s heads. Help them envision what can be done with the land. The potential of the property at it’s highest and best use. You can have professional renderings done, giving your potential buyers a glimpse at what is possible. Don’t get carried away marketing your land, the costs can often negate any profits you’ll receive by selling on your own vs. to a developer or investor.
If you choose a traditional sale for your land in Philadelphia, you should be prepared to wait. Of course, a buyer can come along at any second, however, you are likely to be waiting for a while to find the right one.
Selling your land directly can be the most cost-effective way to go. A fast sale, free of marketing costs, agent commissions, and continued property taxes can ultimately be the most lucrative way to sell. Our team can help you sell your land in Philadelphia fast by providing you with a direct offer, free of any waiting or red-tape.
Let us help you sell your land in Philadelphia! Get in touch with us to learn more! (215) 882-9828
via WordPress https://ift.tt/31SyEQT
Investing in a Philadelphia condo or townhome can be an inexpensive way to add to or start your real estate portfolio. Learn more in our latest post!
There are a number of great reasons why investing in a condo or townhome can pay off big. Below, we offer some reasons why, what you need to look for, and what investing in a Philadelphia condo can mean for you!
You can typically pick up a condo or townhome in Philadelphia for a much lower price than a single-family residence. It can be an easy and affordable way to begin a real estate portfolio or add to an existing one. Many first-time property investors choose to purchase a condo in Philadelphia as a way to build equity, without the demands of a single-family house.
A condo or townhome in Philadelphia will be desired by both renters and buyers alike. The affordability in addition to the many amenities provided can make the demand for your condo much higher than that of a single-family home. Maintenance-free landscaping, pools, spas, tennis courts, and play areas are all wonderful amenities that will attract people to your property.
A condo or townhome in Philadelphia will require less maintenance from you than a single-family property would. When you own a condo, the landscaping and the maintenance to all shared areas are included with your HOA fees. The association will also handle problems with the exterior of the building, letting you off the hook for things like painting and damage to the roof.
What To Watch Out For…
Imposing HOA’s – When you live in a managed community, you are at their mercy. You can’t knock down a wall, or change the color of your unit, or rip out the bushes in the front yard. You may have to deal with an HOA that is overbearing, with strict rules that you and your tenants may find exhausting. Before choosing the community, get to know a bit about the HOA. Ask questions, talk to residents, and make sure you understand how far they are able to reach.
Tenants Causing Problems – When you are renting out the house to tenants, especially ones you don’t know personally, you will need to make sure they are the kind of people who aren’t going to bother others in the community and who have a sense of pride in where they live. If one of your tenants is causing disruptions within the community, the penalties are likely to fall back on you.
Disagreement With Neighbors – Living in a condo community puts you in close proximity with your neighbors. A disagreement that gets out of hand can cause stress for years to come. You and any tenants you choose to rent to need to be able to resolve any differences fairly and without escalating a situation further than it already is. When choosing where to live, try to get a feel of the neighborhood and what the people living there may be like. Are they friendly? Out and about? Or do people seem to keep to themselves?
Rising HOA Costs – HOA costs will typically rise over time. Keep that in mind when thinking about your long term profits. You may also be subject to assessments if there are any major repairs or upgrades being done to the community. Your dues cover maintenance and minor repairs. But things like new roofs, siding, paving, and painting may all be subject to different assessment charges. Make sure you know what to expect, how much rates can rise, and how much is spent in assessments on average each year.
Learn more about investing in a condo or townhome in Philadelphia! Contact us today! (215) 882-9828
via WordPress https://ift.tt/31KGGuT
Thinking about selling your Philadelphia house? Consider a lease option to get the price you want! Learn more in our latest post!
Lease options can be a better selling strategy than most people realize. It will help you get the best price overall while providing you with extra income until the house has officially sold. Below we will answer some of the most common questions we see about how to use a lease option to sell your house in Philadelphia.
What Is A Lease Option?
A lease option will allow a potential buyer to lease the property for a specific term, with the option to buy at the end. The lease will typically last 1-3 years and if they are not able to purchase it at that point, the property will remain in your name and everyone can move on. During the lease term, the tenant will pay you a “rent” that is typically higher than average. Some agreements are arranged so some of this money goes toward the down payment if they opt to buy. However, whether they choose to buy or not, the amount you have collected during the rental term is yours to keep. So either way, you will come out ahead.
How To Set It Up
It is important to set the right terms from the very beginning. You want to make sure both parties have a clear understanding of their responsibilities and the timeframe in which the agreement covers. In most cases, you will set up a traditional rental agreement, with an option to buy at the end. There are a few key differences with a rent to own agreement as compared to a standard lease. First off, the tenant will likely be responsible for the repairs to the property. This will equate to even more cash that will stay in your pocket during the duration of the lease. You will also need to decide how funds will be allocated. While the rental payments are typically higher than average each month, you will need to decide where that money goes. Will you set aside a percentage to go toward the tenant’s future downpayment? Or will the rent payments become pure profit for you? Some agreements will also require a down payment or deposit of sorts to ensure good faith by the tenant.
A Whole New Market Of Buyers
Using a lease option will open your home up to a whole new market of buyers. There are tons of people out there who are ready to buy but are not quite able to get the financing they need. They are good people, who may have a blemish on their credit report from years ago. Or maybe they have been hit with an unexpected debt, keeping their loan from going through. By leasing your property with the option to buy, they will be able to get their credit and finances in order, buying your property outright when the time comes. This opens the door to a whole new group of buyers who may be interested in your home.
What’s The Risk?
There really isn’t one. Worst case scenario, they don’t buy end up buying your Philadelphia house at the end of the lease. You will have made some good money, and the property will still be yours to do with as you please. You can opt to list it on the MLS with a whole new pool of potential buyers, you can rent it out in the traditional way, or you can take on another prospective rent to own tenant. No matter what, you will still come out ahead.
Contact us today to learn more about a lease option for your Philadelphia property!
via WordPress https://ift.tt/2YXEMu9
In the real estate market today, it is very tempting to follow through on one of those ads in the local paper or on Craigslist that are practically screaming the great deal of rent 2 own homes in Philadelphia Pennsylvania.
This option can be a win-win for both parties, but is it always the best method to get into a great house?
Sure, you can’t sell your home right now, or if you’re the buyer, maybe you aren’t able to receive a home loan with bad credit.
You could be in a great home that you love and feel a sense of ownership (more than if you just rent a house the normal way) sooner than you thought!
Although, it is always recommended to ask these questions below when meeting with your possible rent to own seller.
Here’s a few important (smart) questions to ask a local Philadelphia rent to own house seller
“What is the length of the option to buy the house?” –
With a rent to own house agreement (also called lease option home) it’s usually two parts. First, a normal rental agreement. Second, the option to buy the house at a pre-determined price at a date in the future. Usually the timeframe is a minimum of 2 years.Anything less and you may not reach the credit score goal that you’re aiming for to purchase the home. You need this time to weigh your options and to see if things are looking up for you in the future. Of course the longest option agreement timeframe can be the best for you… to give you more time to get back on your feet credit wise or financially so you can get a traditional home loan.
“How much of my rent will be put toward my purchase price?” –
You can read horror stories all over the internet about how some tenants were strung along thinking that they were paying a higher percentage than what they actually were for their future home among other factors with this option.Ask the seller!Recent federal laws have made providing “down payment credits” from your monthly rent very hard… if not illegal in some areas and situations. Usually the monthly rent on a rent to own house in Philadelphia is a bit higher than the monthly rent on a non-rent to own house (because you’re paying for the chance to purchase the house at a pre-determined price which ties the seller down as well). So just make sure to ask the seller if any portion of the rent is able to be contributed toward the purchase price if you do decide to purchase the house when the option is up.
“Who is responsible for repairs and damages on the property?” –
This will be depend on the agreement. It can really vary.Generally, you as the renter are responsible for general maintenance and upkeep… and for minor things (the first few hundred bucks in a repair). But if it’s a larger repair that wasn’t your own fault… often times the house seller / landlord is responsible for the remainder of the repairs after the first few hundred. Again, this varies with every seller.If you’re working with us on looking for rent 2 own homes in Philadelphia… we’ll walk you through how our rent to own program works and answer any of your questions anytime.
“If I’m not able to reach my goal after the option period, can I extend?” –
For tenant buyers who work with us… we’re usually very flexible in working with you to help us both reach that ideal end goal… of you buying the house! :-)As long as we can see that you’re on track to make things work… and the extension makes sense for both of us… we’d be happy to work with you on making your dream of home ownership a reality.If your future seller is honest and fair, they will give you this option. It’s always good to have backup. Do your homework and make sure you talk to the seller of the house FIRST and ask them these types of questions before you sign on the dotted line.
“I don’t have the best credit score. What do I need to do to lock in this home?” –
Again, any reputable Philadelphia Pennsylvania rent to own house firm like Rapid Home Liquidation will help give you resources and connections to help you increase your credit score while you’re renting the home from us.This may include a referral to a reputable and honest , Philadelphia mortgage broker… credit counselor… or even our own internal guidance along the way may be an option. Of course we realize that many of the tenant buyers who work with us on getting into a Philadelphia rent to own house have bad credit. That’s OK. We’re experienced in working with that situation.But as always, we have to protect our investment as well and we’ll only work with a tenant buyer if you show that you’re committed enough today and a safe enough bet that you’ll consistently pay the rent on time and have a great chance of actually qualifying to purchase the home when the option agreement is up.
Last, but definitely not least,
“May I take a copy of the rent to own agreement to my lawyer?” –
The answer should always 100% of the time be “YES!” If you’re working with a landlord / seller of a rent to own house here locally that tries to guide you against running your agreement by your lawyer or CPA (or other trusted advisor) you should RUN THE OTHER WAY.Nothing in the agreement should be hidden or glossed over. There are some really important elements in a rent to own / lease option agreement that you really should be aware of… and we want to walk you through the agreement line by line before you sign, so we’re both fully on the same page and can go into this with confidence and trust.So, make sure that you do take some time to review the agreement to make sure you understand it and how it works. Any reputable rent to own seller will help you understand the agreement and encourage you to run it by a trusted advisor of your own.
So, What’s Next? Seeing Available Rent 2 own homes in Philadelphia
With these six tips, it should be fairly easy to weed out the good sellers from the shady ones.
It’s always harder to find the better ones… the reputable ones… with REAL rent to own homes with a great seller behind them. When you do find a great rent to own house seller, you won’t be sorry that you went the rent 2 own route like so many others do.
So, your next step may be to dive in and see available rent to own homes in Philadelphia Pennsylvania right?
If you haven’t started your rent to own / lease option search… START HERE!
Simply fill out the short form on that page and start your search to see what we currently have available.
Our rent to own houses in Philadelphia tend to get snapped up fast… so be sure to get on our list and open the email alerts we’ll send from time to time when a new rent to own house becomes available.
Also, if you’d rather chat with someone about our program or about your situation… call us anytime at (215) 882-9828 or shoot us an email through our Contact Page.
We’re here for you and we look forward to working with you
via WordPress https://ift.tt/2ZazZR4
HAve you found it difficult to sell your house in Philadelphia? Selling your house via rent to own contract will help you find more buyers and get your asking price! Find out if it’s right for you in our latest post!
As a home seller in Philadelphia, you may have found that your property has been on the MLS for longer than you’d like. Selling a house in the Philadelphia area doesn’t always go as planned. Some houses will sit on the market for months, with not so much as a bite. It can be frustrating living this way. Not knowing when the house will close can be frustrating for people who need to sell a house in Philadelphia.
Using a rent to own agreement to find potential buyers will open your property to a whole new market of buyers. You’ll be able to sell the house, get your asking price, and have the funds in your pocket to move onto something new. It can be a very beneficial agreement for both buyers and sellers in Philadelphia. Keep reading to learn more about what makes this method of home selling so great for homeowners in the Philadelphia area!
New Potential Buyers
There are great people all over the country who want to buy a house, however, frustrating circumstances have kept them from living their dream. Maybe these people are…
Quality Buyers Who Lack A Down Payment
Quality Buyers Who Have A Blemish on Their Credit
Benefits For Sellers
Using a rent to own contract to sell your house in Philadelphia offers a number of benefits to home sellers. People will often look over a rent to own agreement because they don’t want to be landlords. However, the people interested in your property are much different than an average tenant. They have a personal interest in the property. They will want to keep the property maintained and will always pay their rent on time. Not doing so can put them in violation of their lease. They have much more to lose than an average tenant, and they realize this going into the deal. Some of the other great benefits of a rent to own agreement for Philadelphia home sellers include…
If your tenant/buyer should not keep up with their end of the deal, you have every right to foreclose. Sure, it may be a bit of a hassle, but in the long run, you will have likely profited as the downpayment and increased rent payments are yours to keep. You may be back at square one, but you may be further ahead financially.
What To Watch Out For…
If you need the cash from the sale right away, a rent to own contract may not be the best way for you to sell. Keep in mind, that using a rent to own contract may ultimately get you more money when all is said and done. A person with poor credit or little capital for a down payment will likely pay your asking price in order to get a shot at homeownership.
There are many benefits of using a rent to own deal to sell your house in Philadelphia. CNBC states that “rent-to-own arrangement can yield positives: steady monthly income while moving toward the promise of a sale.”
Let us help you find more buyers for your house in Philadelphia! Contact us today for more information! (215) 882-9828
via WordPress https://ift.tt/2KyxgNi