Selling your home in any market can be a challenge. This is especially true in today’s market that has an abundance of inventory and a shortage of loan products available. If you really need to sell your home, you may need to consider alternative options. One very popular option is selling your home with a rent to own contract.
There are numerous seller benefits with rent to own. Let’s look at just a few!
Sell Faster and Easier!
Houses for rent to own tend to sell very quickly. The reason for this is that when you offer your home for rent to own, you widen the pool of potential buyers. Families that once would have qualified for a mortgage quite easily are finding it difficult to qualify. And, it isn’t just those with bad credit! Individuals who are self employed are finding it especially challenging thanks to the end of stated income products.
Once you do secure a tenant buyer, the deal can be closed out in days not weeks. This means you get cash in hand and the peace of mind that there is someone there to cover the carrying costs associated with the home.
Avoid Landlord Hassles
Hate the thought of being called at 10PM about a leaky toilet? Don’t want to deal with a tenant call from someone who thinks it’s your responsibility to come over and re-caulk the bathroom? Rent to own can be a great solution for you!
Rent to own homes contracts generally speaking will place the burden of home maintenance with the tenant buyer. While most states will still hold you responsible for the major issues that could prevent the home from being inhabitable, the tenant buyer will have to take care of the day to day issues like having the AC serviced and changing the air filters.
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