What To Expect When Buying A Rent To Own Home In Snellville

Buying a rent to own home in Snellville Georgia will help you purchase your dream home, even if you aren’t quite ready today. In our latest post, we will offer guidance on what you can expect during the process so you don’t find yourself stuck with any surprises.

What do Sellers Think About Rent To Own Homes

Smart sellers all over the Snellville area are discovering how selling via a rent to own contract can be beneficial for both buyers and sellers. By using a rent to own contract, the seller opens up the door to all kinds of new potential buyers. In turn, buyers will be able to put down roots, with time to save up and restore their credit. The risks of a rent to own agreement are often highlighted, but when all goes to plan, the process can be beneficial for everyone involved.

How It Works

The terms of a rent to own contract can vary based on what is agreed upon by the buyer and seller. That said, the general process is pretty standard. The buyer and seller will enter into an agreement stating the tenant will lease the house for a specific period of time, purchasing the property outright once the lease is up. While any amount of time may be agreed upon, the tenant will usually rent for about 2 years. This allows the buyer time to prepare financially. and get their credit in order if needed. If you aren’t confident you will be able to do this in the two years provided, a rent to own contract isn’t for you. However, if you are confident you will be able to buy at the end of the lease, a rent to own contract may be very beneficial for you in the long run.

During the rental period, the tenant will usually pay an increased rent, with a portion of it going toward the down payment on the home. There will be a payment upfront to secure the tenants intent to purchase the home. If they should default, the owner will be able to keep the deposit and increased rent paid. If the tenant should fulfill their lease obligation, they will then be able to buy the house at the predetermined price. Most of the time, prices are agreed upon before the lease is signed. This can be beneficial for you should the market go up before the sale is final.

Pros and Cons

While buying a rent to own property is the perfect choice for some buyers, others will experience disappointment at their inability to qualify for a traditional mortgage right away. There are many other pros and cons too, including…

The Good

• You’ll have a sense of pride knowing that someday soon, that house will be yours
• You will have a chance to save money and repair your credit
• You’ll be able to begin putting down roots right away
• You won’t miss out on the home of your dreams
• You’ll build equity instead of just renting
• Locking in today’s price will save you money

The Bad

• You might be paying higher than average rent
• Something could go wrong with the house after you move in

All in all, using a rent to own contract to buy a house in market_city] can be beneficial to both the buyer and seller. Before signing any contracts, make sure all the details are covered. You’ll want to include contingencies in case something goes majorly wrong with the home. You don’t want to be obligated to buy a house with mold problems or something similar.

 

To learn more about buying a rent to own home in Snellville , reach out to us today! 678-337-1165

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Things To Watch Out For When Using A Rent To Own Contract To Buy Your Home In Atlanta

Using a rent to own contract can be a great way to purchase a house in Atlanta , however, there are some things you should watch out for. Learn more about the process in our latest post!

Rent to own agreements are becoming increasingly popular with buyers in the Atlanta area. It allows people who may have had one small setback to finally find the path to homeownership. It can help people who are ready to lay down roots today but lack the funds for a traditional down payment at the current moment. It can help people in all stages and situations who want to buy a home right away in the Atlanta area! Below are a few things you should know and watch out for when using a rent to own contract to buy a house in Atlanta !

Contract Terms

Not all contracts are the same. You’ll need to look over all the details to make sure there isn’t something in the contract that could come back to bite you. The downpayment, monthly lease payments, penalties, and the amount going to your down payment on the home need to be laid out so there are no discrepancies. You might also be faced with an “option fee” or a percentage of the taxes and insurance costs.

Repairs

Some leases will require the tenant to handle small repairs and maintenance to the home before they technically the owner. While most tenants don’t have a problem with this, it is important to include in your budget when purchasing a property this way. It’s important to make it clear who is responsible for what as to avoid any disagreement in the future.

Default

What happens if you are late on a payment? You don’t want a small infraction to end up costing you the house you want and the money you have put into it. While your down payment won’t be that of a loan, it still won’t be anything you will want to lose. Preferably, you should be on good terms with the seller so drastic measures are avoided for small and infrequent mistakes.

Contingencies

When agreeing to buy via a rent to own agreement, you’ll want to make sure you have an escape route should anything go wrong. If after you move in you discover there is a major problem with the house, you won’t want to have to be obligated to purchase the house or lose your money. Be sure there is a contingency in the contract allowing you to walk away if there is something fundamentally wrong with the house or the title.

Losing Money

If you have signed a contract but decide the house simply isn’t right for you when it comes time to purchase, you will be out the deposit money you paid upfront in addition to any rent overages you aid during the lease term. This can mean thousands of dollars the property owner will not need to give back to you. When going into a rent to own agreement, ideally you want to be 100% certain it is the right property and that you will be able to buy it with a traditional loan in two years or when your negotiated lease term is up. If you are confident, a rent to own contract can be a great way to buy a house in Atlanta .

We only offer the best properties and rent to own situations for the clients we work with in the Atlanta area. Let us help you find the rent to own situation that is right for you!

If you are interested in using a rent to own contract to buy a house in Atlanta , reach out to us… we are here to help! 678-337-1165

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How To Find Rent To Own Homes In Atlanta

In our latest post, we will help you learn how to find rent to own homes in Atlanta ! Find out how easy it can be to become a homeowner no matter what your financial situation currently looks like!

Using a rent to own agreement to buy a house is becoming increasingly popular for homebuyers in Atlanta . Finding the properties or understanding how it works can feel a bit overwhelming if you aren’t sure exactly what you are doing. Below, we will offer some tips to find the best rent to own properties in Atlanta !

Work With A Pro

Fresh Start Home Sales can help you find the best rent to own properties in the Atlanta area. Our specialty is helping good people buy homes. We know that one mistake or blemish on your credit can cost you for years to come. People are much more than what their credit report says! At Fresh Start Home Sales we work with buyers and sellers who are interested in the rent to own process. We understand the legalities and can help with the entire process from start to finish.

Search The Classifieds

Many homeowners will opt to place ads themselves both in print and online. Keep your eye on the many different sites out there people use to post items for sale. Sometimes a rent to own property can be found in the strangest of places!

Present Your Case

Maybe you have found the perfect property on the MLS, but you just aren’t in a place to buy. One option would be to wait until the listing has expired, then propose a rent to own scenario to the owner. You’ll want to have your facts and figures in place, showing them how they will be able to benefit by receiving their original asking price.

Your Current Property

Have you been renting the same house for a long time? While your landlord likely enjoys receiving your rent check each month, they might like it even more if they are able to cash in their property, ultimately getting their asking price. If you think your landlord would be receptive to the idea, reach out to them! Have the numbers available to show them what the situation would look like from their point of view.

Reluctant Landlords

You can look for reluctant landlords by finding listings that have expired, with the properties being rented out instead. These landlords had likely wanted to sell as opposed to dealing with tenants and continued maintenance.

Unkempt Homes

You know when you are driving down the street and you see a house with overgrown landscaping, visible damage, or signs it is vacant? Typically, those owners aren’t as involved with owning the home and frankly may not care if they do or not. They may see your offer as an excellent way to sell a property that hadn’t cared about in the first place. Most ownership information is public record. Once you know who the owners are, approach them politely and professionally with a well thought out letter and proposal.

Less Competition

You are likely to find rent to own homes or homeowners willing to use a rent to own contract in areas with a slow or less competitive housing market. These sellers are looking for buyers and if you are able to present the right situation for them, you’ll likely be able to find a seller you can work with.

At Fresh Start Home Sales, we will make the process simple for you! We can help you get a better understanding of the rent to own process so you will know exactly what to expect.

Contact us today to find the best rent to own homes in Atlanta ! 678-337-1165

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6 Reasons Why You Should Rent To Own Your Home In Atlanta

If you want to buy a house now, but have something holding you back, a rent to own situation might be the solution for you! Rent to own doesn’t always get the best rap, but when set up correctly, it can provide you with tremendous benefits! In our latest post, we will provide you with 7 reasons why you should rent to own your home in Atlanta !

Many people think that if they want to buy a house, they will first have to save up a small fortune and make sure their credit looks perfect. While these things are both beneficial for future homeowners, there is a way you can find, secure and lock down the house you want today, even if you aren’t quite ready on paper. Below we offer many reasons why a rent to own agreement can benefit you when purchasing your house in Atlanta !

#1 – Time To Save Up

When you agree to purchase via a rent to own contract, you’ll have the time to save up as much as possible. You’ll know exactly when the purchase will become official. giving you lots of time to prepare. You will be living in the house already, it will feel like home, and you won’t feel like you are simply throwing your money away on rent each month.

#2 – A Chance To “Try Before You Buy”

Imagine being able to live in the house for two years before committing to buy it? When you rent to own, that opportunity can present itself! What if something goes wrong with the house? You’ll want to make sure there isn’t a penalty for changing your mind about purchasing. If needed, include disclosures to protect yourself in case of discovered damage or other circumstances.

#3 – You’ll Have Time To Fix Your Credit

Rebuilding your credit can feel intimidating, but with a plan of attack, a lot can be accomplished in a couple of years. With a little work and some proper budgeting, you’ll be able to raise your credit score, allowing you to qualify for a loan. You might be surprised at how quickly your credit score will jump with just a few small changes.

#4 – Lock In Today’s Price

When you sign an agreement with a seller the purchase price will usually be agreed to upfront. This means that no matter what happens with the market, the previously agreed upon price is what goes. While home values can always drop, it’s more than likely the house will be worth more in a couple of years, ultimately letting you purchase below market value.

#5 – Build Equity While You Rent

While your rent may be higher in a rent to own agreement, contracts are typically set up so that a portion of your rent will go toward the down payment on the home when it is time to buy outright. Keep in mind that if you default on the agreement, the owner may be entitled to keep all of the rent paid in addition to the deposit and option fees. Entering into a rent to own agreement should only be done if you are 100% positive you will be able to hold up your end of the deal.

#6 – Confidence Boost

Owning a home can do wonders for your self-confidence. Maybe it has been a goal of yours for a while but has always felt a bit out of reach. With a rent to own agreement, you’ll be able to reach your goals faster than you think! You’ll be able to take pride knowing you are well on your way to owning a home of your own.

Contact us today to learn more about how to rent to own your home in Atlanta !

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5 Ways To Save Money On The Sale Of Your Atlanta House

When selling your house, things can get expensive quickly. That said, there are some ways you can save money when trying to sell your house in Atlanta area. In our latest post, we will explore ways you can save money on the sale of your house in the Georgia area!  

When selling your house in Atlanta , every dollar counts. There are common things you can avoid as well as alternate selling methods that can ultimately leave you with more cash in the long run. Before you commit to a listing agreement, learn more about what a direct sale can do for you! Keep reading to learn more!

Sell Your House As-Is

Selling your home without making repairs can save you a fortune. Many times, homeowners will make repairs before putting their homes on the MLS in order to make it competitive with others on the market. Once a buyer is found, additional repairs will often be negotiated after the appraisal and inspection process. From there, repair costs can snowball, often turning into expenses far greater than you had originally planned for. When you work with a cash buyer, your property won’t be subject to repair costs, inspections, or appraisals. You will be able to save money and sell the property without any additional costs to worry about. There are no surprise fees or hidden costs that you aren’t prepared for. In addition, you won’t ever be asked to clean up the property. We will handle everything from the cleaning to the repairs to the upgrades. With our simple selling process, you’ll be able to sell you’re Atlanta house without any work, cost, or hassle.

Avoid Agents

By skipping the middle-man, you will be able to keep 6%+ of the final sale price in your pocket. A direct sale t Fresh Start Home Sales will never require you to pay any commissions or fees. There is never any sort of cost for our services. While some agents are worth their weight in gold, for others, paying the commission can equate to thousands of dollars down the drain. When you choose to sell your home directly to a company such as Fresh Start Home Sales, you will be able to save time and money while avoiding the runaround you might get when trying to sell your house the traditional way. Not all agents are bad, but for some properties in Atlanta , a fast and direct sale is the more efficient and profitable way to go.

Sell Quickly

For every day that you are listed as the owner, you will incur costs. Utilities, taxes, insurance, a mortgage, and maintenance costs add up quickly. Depending on the property, holding costs can add up to thousands of dollars. As any real estate investor will tell you, the faster you are able to close, the more money you will be able to keep in your pocket. Holding costs can quickly make your projected profits fade away into nothing. Listing your home on the MLS and successfully selling can take months. However, when you sell your house directly to Fresh Start Home Sales, we will likely be able to close in only a matter of days, potentially saving you thousands of dollars along the way.

Avoid Marketing & Photography Costs

When selling your house the traditional way, there will be advertising and marketing costs that will go along with it. It’s easy to tell a good listing from a bad one. Successful and eye-catching listings utilize professional photography and staging techniques. The house will need to be cleaned from top to bottom before any of this id done. If done by a professional, even better. Using featured listings, both in print and online can be expensive but will get your property in front of more potential buyers. Cleaning, photography, staging services, and premium listings can be expensive and you will likely have to pay for advanced marketing out of your own pocket. By selling your house directly to a buyer who is ready to close right away, you’ll be able to avoid all of the costs of advanced marketing, keeping more cash in your pocket.

Work With A Cash Buyer

As you can see from the tips above, selling your home directly to a professional buyer is a great way to save money and sell quickly. At Fresh Start Home Sales we have the funds in place to buy immediately, so you never have to worry about the sale falling through due to a low-appraisal. From day one, you’ll know how much you’re getting and what day we can close. In fact, we will close on your schedule so you can plan ahead and know what to expect. Selling a home in Atlanta doesn’t have to feel challenging or expensive. By working with Fresh Start Home Sales, selling a house in Atlanta has never been easier.

We can help you save money on the sale of your Atlanta house! Get in touch with us today to learn more about how we can help you! 678-337-1165

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