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Rent To Own Houses At Fantastic Prices
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Renting a House
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Rent To Own Houses At Fantastic PricesA rent-to-own house plan especially in Chicago is really lucrative, especially for the buyers in todayвЂ™s disintegrating real estate market. The deal will get locked in the present rate providing the sellers with more than the house rent which might go through wear and tear. Buyers can lock the amount for the house in todayвЂ™s low prices and pay the amount within ample time provided to them.
Here is the process:
- Your demands will be listened to, by rent-to-own experts and will assess the whole situation, your liking and affordability.
- They will start calling property and house sellers in your area and will filter out those sellers and property owners who are ready to relent to the Rent-to-Own process.
- Once they find an apt seller worthy of your interest and affordability, you will go and check out that house.
- If you do not like the house, just tell your Rent-to-Own consultant and they will start the same search again.
- Once you like the house, they will start detailed negotiation with the seller and update you with the proceedings.
- Once all the terms are agreeable to seller and you, they will put very strong contract which is Pro Buyer to protect your interest in Rent To Own deal (this contact itself is worth $5000 if you get the papers ready with a competent lawyer)
- Once the contract is signed and your down payment is deposited in the original ownerвЂ™s bank account, you can move into your new home on a agreed upon date
- Our experts will take care of all the contracts and will explain you all the related clauses.
- They will teach you how to protect your interest in the property, and deal with the payments and procedures.
Benefits for Sellers
1. High sales price for the house, Even if the present demand is low for your home
2. The seller can charge higher than usual rent.
3. The buyer is expected to book the Non-Refundable option consideration up by paying some money initially.
4. The option money is for the seller to keep should the buyer defaults or decides not to buy.
5. No maintenance, no landlording required because buyers themselves will feel that it is their home and will pay on time.
6. Larger Market of Buyers including traditional buyers, renters and investors will be interested
Benefits for Buyers
1. Faster Equity Growth and rent money is working toward the house purchase
2. Option consideration is advanced for the house purchase
3. At least 5% down payment plus closing costs and prepaid are needed for buying a house traditionally. Here, first month's rent and a small option deposit is required.
4. Any increase in property value will mean that your equity is increasing in the home. You get a appreciated home within years.
5. One can also arrange for sale of option with some others interested in the property and opt out.
6. A Chicago rent to own homes requires no bank qualifications. The only requirement is the ability of the buyer for monthly lease payments and the potential home buying ability.
By: Brendon B.
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