Snellville, GA based Fresh Start Home Sales is taking steps to raise awareness among their community of the benefits they stand to gain if they offer Rent-To-Own options the next time they sell their property. An expert in real estate that specializes in quickly purchasing homes, Fresh Start Home Sales looks forward to helping property sellers who wish to explore how they can apply a rent-to-own system to their own sales process. Those who wish to learn more may get started here.
According to the company, rent-to-own deals allow a sale to be made over a certain period of time, eventually giving the buyer an opportunity to purchase the property outright in the future, often at a time that both buy and seller agree to. Traditional home sales differ from this option in that such transactions occur nearly instantaneously once the relevant terms have been agreed upon and both parties have decided to close.
In practice, a rent-to-own offer functions as an alternative that enables the purchasing party to avoid borrowing huge sums in order to buy the home. As such, many people will jump at the opportunity to rent-to-own a home since it makes it much less likely they will have to go into debt to acquire it. A home that is purchased in this manner can be paid off in a virtually identical fashion to rent (with an additional premium, which will count towards the eventual purchase), which in many cases is what people buying their first homes are transitioning from. In other words, the seller can effectively make an income off the property—and many buyers would be willing to pay higher rent for the opportunity to purchase the property outright in the future for its current market value. Sellers should also know that the premium paid with rent is non-refundable, so they still stand to make a profit should the tenant decide to move on. Learn more here.
Notably, however, the buyer can ultimately decide whether or not they want to purchase the property. They may also choose to move on or continue residing at the same property on rent as well, depending on what the contract allows. Fresh Start Home Sales advises sellers to look into every facet of a rent-to-own agreement before deciding to offer it as an option. Fortunately, everything in a rent-to-own agreement (also known as a lease options) is subject to negotiation. This will allow both the buyer and seller to reach a mutually beneficial compromise.
While funds borrowed to purchase a home are usually seen as an investment, this may still be beyond what some families, for instance, are able to afford. In certain cases, they may not even be comfortable going into huge amounts of debt to finance a home. Furthermore, people buying their first home, such as young families, can often be expected to be in much stronger financial positions as time goes on and their respective careers mature. Given that rent-to-own allows such families to take on a financial responsibility that they are currently more comfortable with, this has the added benefit of opening the property on sale to a wider pool of buyers, which in turn will allow the seller more flexibility in choosing their tenants.
The seller has an additional advantage here because tenants living under a Rent-To-Home system tend to take better care of the property while they are in residence. Should they decide to move out in the future, there is a higher likelihood that the house will be in good shape and will not need extensive renovations or repairs. Families that intend to purchase a property will pay more attention to its upkeep, especially if the rent-to-own contract already specifies that tenants are responsible for the property’s overall maintenance.
Fresh Start Home Sales states, “We have a great reputation in the Atlanta area due to our honest communication and fairness to everyone. We work hard on improving communities and helping neighbors out, one home at a time.” As such, the company invites buyers and sellers alike to get in touch with their representative, Fitz Thompson, to learn more about the rent-to-own system or explore other real estate opportunities. More information regarding Fresh Start Home Sales’ services and activities can be found at the following link: Lets get social here.
SOURCE: Press Advantage [Link]
Here at Fresh Start Home Sales, our focus is simple. Find and purchase great houses in and around Gwinnett County Georgia, fix them up, and offer them to people in Gwinnett on a Rent-to-Own basis. We help people who wouldn't otherwise be able to own a hom
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