How would a rent to buy or rent to own (lease option) system work? Ideally, any person who Wishes to rent a place would like to check out the entire housing area as well as the
building complex (if an apartment), and the neighborhood. Only then can they be expected to
make a clear and fair decision before becoming a tenant under the lease option offered. Is
not that so?
Likewise, when a person wants to buy their own home, they have to be even more particular
about the place and all its fixtures; it is their right to be inquisitive about every single detail. There is no lease option for a home buyer; buying a house is a permanent deal and the resident cannot just step out and leave after a certain time period!
How Does Rent To Own Benefit Such A Person?
The answer is quite simple. With a rent to own service, anyone can choose a house which
they may want to buy, and they do not have to immediately make the decision of whether to
purchase the house or not. Instead, they can first rent the property for a certain time
period and when that agreed-upon time expires,they can decide whether to go ahead and buy
the house, or to leave it, just like one leaves a rental property that one does not like!
The amazing thing about rent to buy is that not only can you live in the house as a tenant
and test it out completely for a long while, you are under no obligation to necessarily
make the purchase within the time period or once it ends.
Furthermore, the value of the house becomes fixed starting at that point in time at which
you enter into the rent to own contract. This is quite advantageous for the customer; if
the value of the house were to increase within the 5-year period, the customer would still
get to buy the property at the initial fixed price value that existed 5 years ago! In other
words, the customers are the only ones who gain: they are purchasing a home that they have
lived in and have explored every cranny of it for years, and that, too, at a price lower
than the current market value of the property. They get to keep the additional value much
like a free gift!
How The System Works
As mentioned before, rent to own is a simple, 4-step system that makes your dream of
inexpensively owning your own home a reality! Here’s how it works:
1. You select a house from the given assortment of properties. The home that you may
want to permanently inhabit some day is completely your choice.
2. You pay the first fee, which is the initial starting cost. This small payment is
normally just about 3% of the entire price of the house at that time period.
3. That’s it – you’re in! You are part of the rent to own contract deal which entitles
that you may live as a renter in the house for a fixed time period. This may be 4-5 years,
or whatever your contract entails. You pay rent like any tenant, but this rent is not a
‘dead’ amount. Every payment will be entered as a deposit for acquiring the house, which
means it will be credited towards the buying price of the house in your favor.
4. Lastly, you can select to buy the home at any point either during the allotted time or when the time period is due to expire. However, if you do not wish to go ahead with buying the property, you can simply continue living on rent until the time period is up.Without being forced to purchase the home, customers have free choice in taking their next step. The http://www.propertyfaster.co.uk/ rent to own can offer you all of this with no additional
hidden charges.
- Author Articles
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