5 Reasons to Go With Rent to Own Homes in MN

The idea of rent to own homes in MN is not a new concept. However, the idea is becoming more appealing all the time. There are features that benefit the owner, the potential buyer, and both. An element of trust is the prerequisite to this kind of agreement. The renter/buyer expects the owner to keep taxes, fees and payments current. The owner expects the renter/buyer to perform as agreed during the life of the contract. Following are 5 reasons to consider this type of action.

1. As a homeowner whose property has been on the market for a few years, the rent to own process is an excellent way to sell a home. There are a number of responsible people rebuilding their credit in order to buy another house. If you are ready to move, consider switching your home to a rent to own property.

2. As a potential buyer, you will sign an agreement with the homeowner. It is important to understand the contract you sign and how it affects you. Remember the person who owns the house is out to make a profit. The owner is still paying the mortgage and taxes and mortgage from what you are providing. Verify the amount that will be put into your escrow account from your monthly rent by including it in the contract as a specific dollar amount.

3. If your credit score put you just under the line for mortgage qualification at a low interest rate, an RTO contract lets you live in the home while working to build a higher credit score and saving additional money for the down payment.

4. Another reason people are going with rent to own homes in MN is that it locks in the price of the house. If value increases, you do not have to worry about someone making a better offer and starting a bidding war. If value decreases, you still know the house and property are in excellent condition and will rebound over time.

5. Having some of the rent set aside to use when applying for a home loan is an advantage. There is always a possibility that you still will not qualify for the mortgage. Build a contingency clause into the contract that will result in a portion of the fees and rental contributions being returned to you if you do not qualify for financing.

When both parties have a fair contract and act with integrity, the rent to own process is a valid option to the traditional purchase.

How Much Should You Pay for Rent to Own Homes in GA?

The right rent to own homes in GA could be your key to home ownership, even if you don't have the best financial situation or you're not certain you want to stay. After all, the flexibility and convenience of these agreements make it easy to rent or buy over the course of two or three years. Unfortunately, many rent to own homes in GA are poorly priced or include bad terms that could cost you a lot in the long run. When you enter this kind of contract, paying attention to pricing is a vital strategy.

Purchase Prices for Rent to Own Homes in GA

Many people entering rent to own agreements make two big mistakes. The first one is assuming that the purchase price is set in stone. In fact, you can negotiate the price for a rent to own property the same way you'd negotiate for any other home. The second most common mistake is to enter a deal where the purchase price isn't stated up front.

This kind of situation means that the price of any rent to own homes in Savannah or other cities could fluctuate greatly. You might end up paying a lot more if the housing market changes in the future. Instead of putting yourself at risk, make sure your landlord states the purchase price right away. If you're worried that the house might devalue over time, include a clause that says you can have it reappraised shortly before you buy.

Fair Lease Option Fees

In addition to the actual price of the home, your contract should state your lease option fee. This is a payment, often made before you move in, that obligates your landlord to allow you to buy the house. In most cases, it should come to about 1 percent of the total cost of the home. If you decide to buy, this fee should be creditable to your down payment. In most cases, you will forfeit this fee if you decide not to buy.

Rent and Rent Credits

It's important to plan for the long term when it comes to rent to own homes, but you shouldn't ignore your monthly payment. In most cases, the rent you pay for a home you plan to purchase should be equivalent to the going rate in your neighborhood. Take the condition of the house and any extra responsibilities included in your lease into account, and remember that around 10 to 15 percent of your rent should be creditable to the down payment. If your landlord wants to credit a smaller percentage, he or she may be taking advantage of your interest in the property.

Celebrate Home Ownership with Rent to Own Homes in Maryland

You can celebrate home ownership with rent to own homes in Maryland by taking advantage of this type of RTO opportunity. A deposit is a guarantee to the owner that you are serious about purchase. The homeowner and renter agree upon the monthly rent. A certain amount is put to the side and will be applied to the down payment and closing costs when the rental period when the renter/buyer applies for a mortgage.

There are several reasons that a homeowner is open to the idea of rent to own homes in MD. Knowing that the party will be in the home for a designated period of time shows commitment and eliminates the task of putting the home on the market every six months or so. It allows the homeowner to plan for the time when they are no longer responsible for that particular piece of property.

It is important to remember that completing the rent to own contract is not a guarantee that you will qualify for financing when the contractual period is over. That possibility has promoted concern among those who rent to own homes in Maryland, homeowners and agents.

A benefit of selecting a home in cities such as Laurel and Baltimore is that the economy works on your behalf. Great schools, employment opportunities and community activities make either of these locations a place where people want to live. There are many things that make Laurel stand out as a destination site for visitors and residents. A National Historic Landmark, the Montpelier Mansion is an historic museum that features the style of Georgian architecture. It is undergoing significant restoration in 2013. The National Wildlife Visitor Center includes exhibits and hiking trails.

In the event the home is appraised for less than the locked-in price, financing will be more difficult to find unless the purchaser has a significant down payment to make up the difference. Prepare for the loan application by building your credit score and saving as much as possible to smooth the mortgage process. Consider your options carefully and choose a home, price and area that display a thriving environment.

Should my agent be doing this?

Whether selling or buying cheap homes is a main concern for you or not, you are inevitably going to have to deal with a real estate agent to help you either buy or sell the home. Therefore, you may as well make certain that you find a good real estate agent to help you in your buying or selling endeavor.

You should never find yourself in a position where you have to constantly ask yourself or other people, “Should my agent be doing this?!” What follows is a list of some of the things that your agent ought to be doing and some of the things that he or she should absolutely not be doing under any circumstances.

What your Agent Should Do:

1. Your Agent should possess good Credibility

What is good credibility in a real estate agent? Essentially, having a good amount of credibility entails that the agent ought to have at least some years of experience when it comes to working in the neighborhood in which you live or are looking to move to. The agent ought to have a wealth of experience in all sorts of markets; this really speaks to his or her credibility. In addition, you can also look into the professional background of the agent you are considering in order to determine for yourself if he or she really has a good amount of credibility.

2. Your Agent should have relevant Letters after his Name

To make sure that your real estate agent is certified and trustworthy (or at least to minimize the risk of him not being either), your agent ought to have specific letters after his name. The possibilities are the following: SRES, CLHMS, ABR, CRS and GRI. An SRES indicates a senior real estate specialist, who will have investigated the requirements of working with both elderly and retired clients. A CLHMS is a certified luxury home marketing specialist, which is actually a member of an elite bunch that focuses on the upper tier of the real estate market. An ABR, on the other hand, is an accredited buyer representative, who is familiar with the sophisticated methods of both negotiating and representing for all of their customers/clients. A CRS is a certified residential specialist, which is the most superior designation for any realtor. Just around five percent of all realtors have earned their way to this special type of designation. Finally, a GRI is a graduate from the Realtor’s Institute, and this kind of realtor will only have taken a few courses in advanced training for various types of real estate matters.

3. Your Agent should communicate well

Your agent should communicate well with you if you are to have a good, working relationship with him or her. Good communication from your realtor should include simple services, such as returning your e-mail quickly and returning your phone calls in an efficient manner, too. If your realtor cannot be bothered to return either promptly, then that realtor will likely neglect other, equally important things down the road. If your agent has an assistant, then that can go a long way toward helping with good communication.

4. Your Agent should show you many listings of homes in your price range

It's your realtor's job to show you home listings to find the perfect home for you. Real estate agents can use their own systems, or place their real estate listings on sites such as RealtyStore.com.

What Your Agent Should NOT Be Doing:

1. Your Agent should not have a Lack of Education

While no state in the U.S. actually obligates a realtor to have a college degree, it is still important that your realtor undergoes continuing education. You see, if your realtor is a fellow who barely has the minimum education required to be a realtor, then he is either just brand-new to the game, or he is not dedicated to keeping his knowledge current with respect to the real estate market. Either way you cut it, a realtor who does not have enough education is one who will not be able to serve your buying or selling needs effectively.

2. Your Agent should not ignore your Needs

Simply put, your agent must not ignore your very real real-estate needs. For one, you have a specific budget that you have to follow when searching for properties; some properties are just going to be outside your budget. Technically speaking, a realtor's interest lies in getting you to buy the most expensive type of property out there since his or her commission will be based upon just how much you end up spending. However, if your realtor keeps showing you homes that are consistently outside of your budget, then that is ignoring your needs, which should not happen.

3. Your Agent should not work part-time

There are actually part-time and full-time real estate agents, but the level of quality with each kind is like night and day. You see, a part-time realtor will simply not give you the concentration and the dedication that you deserve for when you want to buy or sell a home. If a realtor works full-time, you can easily tell that he or she is dedicated to the profession because it is the main source of income for him or her.

Instead of asking yourself if your agent should be doing this, just refer to the above list for the definitive answers to that questions. Whether you are buying cheap homes or not, a good real estate agent will not neglect you or your needs.

You can find a reliable, trustworthy real estate agent on the RealtyStore.com real estate agents network.

Buyers Find Rent to Own Homes in San Diego an Appealing Option

Places like RealtyStore.com are showing that there is a good inventory of rent to own homes in San Diego. Not only are homes readily available for buyers, but buyers are finding this area an appealing place to relocate for many reasons. While some may think that it’s the nice beaches and mild weather that is so attractive, the reason this area is so appealing goes far beyond the wonderful climate found in the city.

Smart Buyers Focus on the Economy

Currently, the economy is extremely important to those interest in a rent to own apartment, home or homes for sale. With much of the country in economic chaos, finding an area with a growing economy is difficult. However, San Diego does offer buys an economy that is growing, despite hard times throughout the country. Job opportunities are available and the job market is only expected to grow. This is important to many considering rent to own homes in San Diego, especially with much of the country experiencing high unemployment rates.

Low Real Estate Prices

San Diego is attractive to smart buyers due to the lower real estate prices that are now available in the area. At one point in time, prices soared. However, prices have been beginning to get lower over the past few years, offering home buyers and renters better deals in the area. These lower prices and a surplus of homes offer buyers a nice buyer’s market. The market also has options available in various price ranges, making it easy for every individual to find the options they are looking for in the city.

Of course, these are only a couple of the reasons buyers are finding rent-to-own homes in San Diego an appealing option. A good standard of living, great educational system and wonderful climate also attract home buyers and renters.

3 Facts that Make Rent to Own Homes in Reno NV a Unique Opportunity

When looking for homes rent to own, one area to consider looking is in Reno, Nevada. Reno is a special city that has a rich history and much to over those who decide to live in the area. For those that are unfamiliar with what makes this city unique, here are three interesting facts that make living in Reno a unique opportunity.

Many Educational Options for Students

First, Reno offers many educational options for students, which is a fact that many parents can appreciate. With excellent public schools, several private schools and a host of charter schools available, parents can make the educational decision that works best for their children. For families, all the educational options definitely make rent to own homes in Reno NV an excellent opportunity for their children.

Short Commute Times

Another interesting fact about Reno is that the average commute time is only 22 minutes. This is shorter than the national average commute time. Shorter commutes offer the unique opportunity for workers to enjoy more time with friends and family members, since they don’t spend as much time commuting back and forth to work. In a time when gas prices are very high, shorter commutes also save money.

Excellent Culture and Recreation Opportunities

Last, Reno also offers excellent culture and recreation opportunities. When it comes to culture, residents can enjoy the Reno Philharmonic Orchestra, the Nevada Museum of Art, the Pioneer Center for Performing Arts and more. Various recreation activities are available to those that choose rent to own homes in Reno NV as well. Just a few activities include snowboarding, skiing, windsurfing, biking and snowmobiling. All the unique culture and recreation opportunities make the area a unique option for those interested in relocating.

Pros and Cons of Houses for Rent in Cleveland TN

If you’re considering houses for rent by owner, Cleveland, Tennessee has become a popular place for homebuyers. Of course, before deciding to go with houses for rent in Cleveland TN, it’s always a good idea to carefully consider the area and all the pros and cons it has to offer. Here is a look at a few of the pros and cons to consider if you plan to rent a home in Cleveland.

The Pros

One of the main pros to choosing houses for rent in Cleveland TN is that the city is continuing to grow in a time when many cities are losing ground. The population is growing and industry is going strong within the city, making it an excellent area for relocation. Another pro is the potential for finding jobs, since the unemployment rate is lower than many areas across the country. Low cost of living and reasonable rental rates also benefit those who want to buy or rent in the area, as do low property taxes.

The Cons

Of course, Cleveland also has a few cons to consider as well. One of the main cons to choosing houses for rent in Cleveland TN is the crime rate. Certain types are crime are higher than the national average, although it’s important to note that crimes like murder and auto theft are lower than in many other cities. Although the area offers schools that provide reasonable classroom sizes, less money is spent per student than the national average, which is something parents must consider before moving to the area.