Have you ever thought about selling your house with a rent to own agreement? The [market-city] market is in a period of transition. Many would-be buyers are improving their credit score and their debt to income ratio to prepare for home ownership in North Central Florida. Many are not yet in a position to qualify for conventional financing. Under this agreement as an option, the tenant end buyer can walk away voluntarily at the end of the term. Or, you have the option of extending for an additional option fee if the buyers are not quite ready to buy at the end of the original term.
Failure on the part of the buyers to gain approval for a conventional loan at the end of the two or three-year period set out in the rent-to-own agreement means that you get the home back and you can do it all over again. You keep the original option fee.
Because you are in the driver’s seat, you can set the terms for maintenance, repairs and who pays homeowners insurance, and even the taxes in the contract terms. Read on to learn more about how to set up a rent-to-own agreement that will help sell your North Central Florida house for the highest price possible
Get Your Asking Price
Sellers are taking a risk in working with buyers with less than perfect credit. You also risk home values jumping far beyond current expectations. Because you are offering a benefit that the buyer cannot get anywhere else, you can set the asking price at the potential value the property could have in the future as your sales price now. On the other hand, you’ll come out ahead if home values drop because the sales price is predetermined. Because there is far higher demand than supply of homes available through a rent-to-own deal, providing this opportunity will help sell your North Central Florida house to eager buyers for the highest price possible.
Potential Buyers
The typical younger rental pool that would typically seek temporary housing solutions is now turning its eyes towards buying their first home. When sellers offer a rent-to-own agreement, this opens the door to more potential buyers. These buyers understand all too well the chance that they have been provided and are highly motivated towards a successful outcome to the agreement. These factors combine to bring added value, which helps you sell your North Central Florida house for the highest price possible.
Protection
While some risks are involved in working with buyers who are repairing credit, there is no need to take needless risks. Therefore, you should consider using an experienced real estate lawyer to review your rent-to-own agreement. Avoiding legal conflicts over a poorly constructed contract benefits both parties, the seller and the buyer. Ensuring both parties have legal protections and disputes will likely be avoided is helpful when you sell your North Central Florida house with a rent-to-own agreement for the highest price possible.
CPR Real Estate Solutions, LLC makes it easy! At CPR Real Estate Solutions, LLC, our process is simple and straightforward! We make it easy and fast, working with experts from every walk of the real estate industry. Our team at CPR Real Estate Solutions, LLC can help guide you through setting up a rent-to-own agreement. Our goal at CPR Real Estate Solutions, LLC is to help you sell your North Central Florida house for the highest price possible. The professionals at CPR Real Estate Solutions, LLC are happy to answer any questions or concerns you may have about rent-to-own agreements with no obligation. Send us a message or call CPR Real Estate Solutions, LLC at (352) 446-8559.