Fresh Start Home Sales, a real estate solutions company based in Snelville, GA, wants to offer five tips on how to sell a house via a rent to own homes contract. They want to emphasize that selling a home can actually be simple when selling a home via rent to own and there are several benefits that many homeowners don’t always realize. Key advantages are the fact that the seller would be able to have access to more buyers; the seller would be able to instantly convert the property into an investment that earns a monthly income; and the seller will have a better chance of getting his or her asking price.
The first tip is to set a realistic down payment. It is essential for the down payment to be realistic when asking for a down payment or option fee in a rent to own contract. It is important to realize that if the potential buyer hasn’t been able to qualify for a loan because of a lack of down payment, he or she will likely find it hard to come up with a down payment that is too high.
Another good tip is to use a comprehensive rent to own agreement. It is advisable to have a detailed contract that covers the usual situations that buyers and sellers may face. And it is also a good idea to do some research on potential buyers to perform some background checks and take a look at the references that they provide.
Fitz Thompson, a representative for Fresh Start Home Sales, says, “When you sell your house through a rent to own arrangement, it is also an excellent idea to consult a professional Attorney. This is because there are a lot of things that need to be included in the agreement, such as who will take care of repairs and maintenance; the terms of the lease, whether it will last for one year, two years, or three years; contingencies for both the buyer and seller; and the foreclosure process and what will happen in case the tenant violates the agreement.”
And finally, for those who want to sell their house but don’t have much equity, selling their home through a rent to own agreement could be a good move. This is because it will allow the seller to obtain monthly payments that are practically guaranteed. The tenant-buyer will want to be consistent with the monthly payments because if not, it will be a violation of the agreement and he or she may lose the chance to buy the house.
Fresh Start Home Sales is a full-service rent to own services company with the mission of assisting residents of Atlanta to have their own home. With the current instability of the economy, they are contributing to the stabilization of communities around the city of Atlanta by matching up homes with people who will likely care for them as their own because they will eventually own that particular property through a rent to own agreement.
For people who are looking to have their own home, there are many advantages of getting into a rent to own agreement that will ultimately allow them to have their own home. One important benefit for the potential buyer is that they get to try living in the home and they can also experience what it feels like to be in that particular neighborhood. It also allows them to feel like a homeowner immediately while they are saving up for the down payment and/or improving their credit rating. They also get years of privacy because they are not listed as the buyer on any public records until the closing. They may also be able to benefit from the appreciation in home prices immediately. This is especially true in Atlanta where it has been observed that homes are worth more on the day of the purchase compared to the selling price. And tenant-buyer can immediately move in and don’t have to wait for a bank approval of a home financing arrangement.
Those who are interested in knowing more about selling a house through a rent to own homes contract may want to visit the Fresh Start Home Sales website or contact them through the telephone or via email.
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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