How To Find More Buyers For Your House In Atlanta

HAve you found it difficult to sell your house in Atlanta? Selling your house via rent to own contract will help you find more buyers and get your asking price! Find out if it’s right for you in our latest post!

As a home seller in Atlanta, you may have found that your property has been on the MLS for longer than you’d like. Selling a house in the Atlanta area doesn’t always go as planned. Some houses will sit on the market for months, with not so much as a bite. It can be frustrating living this way. Not knowing when the house will close can be frustrating for people who need to sell a house in Atlanta.

Using a rent to own agreement to find potential buyers will open your property to a whole new market of buyers. You’ll be able to sell the house, get your asking price, and have the funds in your pocket to move onto something new. It can be a very beneficial agreement for both buyers and sellers in Atlanta. Keep reading to learn more about what makes this method of home selling so great for homeowners in the Atlanta area!

New Potential Buyers

There are great people all over the country who want to buy a house, however, frustrating circumstances have kept them from living their dream. Maybe these people are…

Quality Buyers Who Lack A Down Payment
Saving for a down payment can be tough for some people. If they are paying off other debts, supporting a large family, or living somewhere with a high cost of living, putting away extra money each month can be unthinkable. Maybe these people are ready to put down roots today, but who also still need some time to get their down payment together. By entering into a rent to own agreement with you, they will have 2-3 years to get their finances in order.

Quality Buyers Who Have A Blemish on Their Credit
There are many people that made a mistake or found themselves a victim of circumstance. Erasing something from your credit isn’t always easy. It can take some time to repair your credit and get into a place where you’re able to qualify for a loan. While some people are financially irresponsible, others simply look bad on paper but would no trouble paying you each month.

Benefits For Sellers

Using a rent to own contract to sell your house in Atlanta offers a number of benefits to home sellers. People will often look over a rent to own agreement because they don’t want to be landlords. However, the people interested in your property are much different than an average tenant. They have a personal interest in the property. They will want to keep the property maintained and will always pay their rent on time. Not doing so can put them in violation of their lease. They have much more to lose than an average tenant, and they realize this going into the deal. Some of the other great benefits of a rent to own agreement for Atlanta home sellers include…

• The ability to greatly increase the number of potential buyers
• You will receive a down payment up front to help fund a new property or move onto something new however you see fit
• You will instantly turn your property into an income producing investment. You can usually count on the rent being paid on time each month out of fear of default
• The rental income you receive each month will likely be greater than what other properties are renting for in the area
• If the tenant defaults on their agreement, you are able to foreclose on the property, while still keeping the down payment and increased rent

Low Risk

If your tenant/buyer should not keep up with their end of the deal, you have every right to foreclose. Sure, it may be a bit of a hassle, but in the long run, you will have likely profited as the downpayment and increased rent payments are yours to keep. You may be back at square one, but you may be further ahead financially.

What To Watch Out For… 

If you need the cash from the sale right away, a rent to own contract may not be the best way for you to sell. Keep in mind, that using a rent to own contract may ultimately get you more money when all is said and done. A person with poor credit or little capital for a down payment will likely pay your asking price in order to get a shot at homeownership.

There are many benefits of using a rent to own deal to sell your house in Atlanta. CNBC states that “rent-to-own arrangement can yield positives: steady monthly income while moving toward the promise of a sale.”

Let us help you find more buyers for your house in Atlanta! Contact us today for more information! 678-337-1165

from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/how-to-find-more-buyers-for-your-house-in-atlanta/
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Benefits of Owner Financing for Atlanta Home Sellers

There are many benefits of owner financing for homeowners in Atlanta! Learn more about the perks of using a rent to own contract to sell your house in our latest post!

Rent to own contracts are not standard boilerplate agreements. There are many aspects of the deal that can be modified to better suit a buyer or a seller. The terms of the lease, down payment, and responsibilities of both the buyer and seller can all vary from contract to contract. When the agreement is structured correctly, a home seller has the potential to come out ahead when all is said and done.

Cash Upfront

Just because you opt to use owner-financing, doesn’t mean your buyer will be able to avoid a down payment. When a seller offers financing for a property, even if it is short-term in a rent to own situation, they will still want to collect a down payment up front to secure the deal and to protect the seller from any loss. This upfront cash is often referred to as the option fee, which gives the buyer the option to buy at the end of the lease term. This fee can be anywhere from 2-7% of the final purchase price, however, a smart investor will keep this number on the low side to ensure they aren’t inadvertently pushing away any potential buyers by asking for an option fee that isn’t affordable.

Guaranteed Income

When you use owner financing or rent to own agreement to sell your house you will help ensure that you are bringing in an income each month. Your buyer or tenant isn’t going to risk defaulting on their agreement, so you can almost guarantee your money will be received on time every month. Having extra income can mean huge changes for you and your family. It can be like having a second job, without having to do all of the extra work. Many landlords are desperate to find a tenant. When owner financing comes into play tenants will line up at the chance to buy a home outright.

A Larger Pool Of Buyers

Offering owner financing to help sell your house in the Atlanta area will bring in a whole new pool of buyers. People who aren’t able to qualify or afford a down payment on a traditional mortgage will be able to come to you. Of course, you will need to run background and credit checks so you don’t end up in an agreement with the wrong person. But by offering owner financing for your property in Atlanta, you will be able to find many more potential buyers for your house. You will also be able to help someone who has a dream of homeownership, but who isn’t quite ready to do it all on their own.

Get Your Asking Price

Buyers are usually willing to pay your asking price in exchange for the opportunity to purchase your home. Your price should be reasonable and in-line with what other properties are selling for in the area. You may have to wait a year or two for the house to officially close. If you don’t mind collecting a rent payment, instead of the total profit from the home right away, you’ll likely be able to collect your asking price, without having to lose any money on the sale. You will have the upper hand in negotiations as your buyers aren’t going to want to have their offer be rejected.

A Fast Sale

By opening the door to new buyers, you’ll likely encounter many people who will jump at the chance to buy. Typically, you will be able to find a competent buyer right away. A traditional sale could have you waiting for months until a suitable buyer is found. By signing a rent to own agreement right away with a potential buyer, will immediately limit your liability and will help you end a good amount of ownership costs that you had previously been facing.

Freedom From Expenses

Once you have a tenant or prospective buyer in place, typically repairs and maintenance expenses will fall on their shoulders. That’s not to say you are off the hook for all costs, but you will be able to alleviate the majority of the routine repairs and maintenance costs homeowners often face. By eliminating these expenses from your budget each month you will be able to save up even more money toward the purchase of a new Atlanta investment property.

There is nothing that says you need to hold onto a house forever. The traditional methods of selling don’t always attract the right buyers. Offering owner financing on the sale of your property can quickly tun=rn the tables, helping you find a buyer almost immediately.

Learn more about the perks of owner financing for home sellers in Atlanta! We’ll answer all of your questions, contact us today! 678-337-1165

from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/benefits-of-owner-financing-for-atlanta-home-sellers/
via https://www.freshstarthomesales.com

6 Reasons Why You Should Sell Your Atlanta House Via A Rent To Own Contract

There are many great reasons why you should use a rent to own contract when selling your house in Atlanta. Learn more about what selling your Atlanta house in this manner can mean for you! 

Using a rent to own contract is often overlooked by homeowners looking to sell a house in Atlanta. Many people fear becoming a landlord, however, the rewards can be much greater than that of a standard rental property. The tenant is more likely to treat the property with respect. You are more likely to get your rent on time. And you are more likely to get your asking price for your house in Atlanta. Don’t write off a rent to own contract when selling your house in Atlanta until you run the numbers and find out what selling this way can mean for you.

A Fast Sale

Using a rent to own contract to sell your house in Atlanta opens up your property to a whole new pool of buyers. There are tons of people out there who are eager to buy, and who will have no problems paying you. However, something is holding them back from obtaining a traditional mortgage. While some people simply lack the funds for a down payment or the credit to qualify for a loan, there are many other situations that can affect a persons ability to buy a house in the traditional manner. For example:

• They are recently self-employed and unable to qualify for a mortgage
• They were forced to spend their down payment on something else, but they still want to buy right away
• They have another mortgage, making it more difficult to obtain a second
• They have other debts, making them look bad on paper
• They are haunted by a previous bankruptcy or eviction

Everyone gets into a difficult spot at one point or another. By selling your house via rent to own contract, not only will you receive many great benefits for yourself, but you will also be able to help someone reach their dream of homeownership.

Cash Upfront

A down payment or option fee is often required by the home seller. This fee varies by contract, but it can be anywhere between 2-7% of the purchase price. Remember that if your buyer is having trouble coming up with a down payment for a traditional mortgage, they might have trouble coming up with a large down payment for you. Keeping this fee low will help you attract more potential buyers to your property. That said, you do want to include an option fee as a sort of security deposit to make sure your buyers don’t simply walk away from the property.

Get Your Asking Price

While a traditional home sale price is often negotiable when you work with a buyer using a rent to own contract, the seller will often have the upper hand. Most buyers will be willing to pay what you’re asking in order to get a chance at buying a home. Properties that sell in the traditional manner are often sold for much less than they were originally listed for. Once the repairs and negotiations are completed, homeowners will often find they aren’t making anywhere near as much as they had hoped.

Consistent Income Each Month

Selling your house via a rent to own contract will provide you with consistent, guaranteed income each month. Your lease will specify the terms of the agreement, but for the next couple of years, you will have a guaranteed rental income that you can rely on. Your tenant is much more likely to pay their rent on time as they have a genuine interest in the property. In addition, the rent charged each month is often greater than standard rental properties in the same area. While in many contracts a portion of the rent is designated to the buyers future down payment, if your tenant/buyer defaults on the agreement, the option fee, and the increased rent are yours to keep.

Low Risk

A rent to own contract carries very little risk for homeowners. Tenants have a genuine interest in the property, helping them to refrain from damaging the house or skipping required maintenance. They want to keep the house as nice as possible as they will eventually be the rightful owner. If anything, you are likely to find your tenants fixing up the property as opposed to wearing it down. If the buyer defaults on their payments, you may lose the seller, but you will have gained income as opposed to just letting the house sit on the MLS. All monies paid toward the house will belong to you, and the house will be back in your hands. You might be back where you started, but you won’t have taken any hit financially.

Use a rent to own contract to sell your house in Atlanta! Contact us today for more information!

from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/sell-your-atlanta-house-via-a-rent-to-own-contract/
via https://www.freshstarthomesales.com

5 Tips For Selling Your House Via A Rent To Own Contract in Atlanta!

Selling your house in Atlanta can be simple when using a rent to own contract! There are a number of excellent benefits to selling this way that homeowners don’t always realize. Keep reading to learn more about some of these great benefits in our latest post!

Using a rent to own agreement when selling your house in Atlanta can be an excellent way to sell your house. The benefits to home sellers can be huge. You’ll be able to reach more buyers, you’ll have a much better shot of getting your asking price, and you will instantly turn your property into an investment that provides you with income month after month. If you need to sell your house in Atlanta don’t rule out a rent to own contract, it might be the home selling solution you have been waiting for!

Set A Realistic Down Payment

When using a down payment or option fee in a rent to own contract, the number needs to be realistic. If a buyer isn’t able to qualify for a loan due to lack of down payment, they aren’t going to be able to come up with one for you either. While you should require an option fee from your potential buyer, make sure it is something they can afford. Not something that will dissuade them from agreeing to the deal with you.

Use A Comprehensive Agreement

There are a lot of things that should be covered in a rent to own agreement. It is important to have a detailed contract that covers common situations buyers and sellers face. By using a detailed and comprehensive agreement upfront, you’ll be able to avoid any disagreements or disturbances down the road. A few of the things to include in the agreement include…

Repairs & Maintenance – It’s important to have a clear understanding of who is in charge of what. In many cases, minor repairs and maintenance costs will be the responsibility of the tenant/potential owner. Whereas if something major should go wrong, that expense will fall on the actual property owner. Let’s say the water heater busts a week after move-in. This cost won’t usually be the responsibility of the tenant.

Taxes – At the end of the day, the property taxes are the responsibility of the person whose name appears on the deed. Some agreements will take taxes into consideration, charging the prospective buyer a reimbursement cost.

Lease Terms – Some contracts last a year and others last three. As the homeowner, it is up to you how long you are willing to wait before officially selling the house. Some homeowners don’t mind waiting, while others will want the closing to happen sooner rather than later.

Contingencies – A properly set up agreement will offer contingencies for both the buyer and seller. The buyer cannot be expected to purchase the house if they discover something fundamentally wrong with the property that wasn’t disclosed up front. While you want to find a buyer, it is also important to be honest and fair.

Foreclosure Process – Your agreement should outline the foreclosure process and what will put the tenant in violation of their agreement. Hopefully, you won’t ever have to deal with the eviction process, however, if you do, it will help to have all the details in black and white.

Miscellaneous Situations – Depending on your property and its location, there are miscellaneous things you should include in your contract. Like what happens if your tenant violates HOA rules? Or if they alter the house without following through on the lease? Or if a natural disaster damages the property beyond repair? There are lots of different situations that can arise. By anticipating them ahead of time, you’ll be able to avoid conflict with your tenants down the road.

References and Background Checks

While you are opening the house up to many more buyers, you can just go into an agreement with just anyone. You will need to do some research on your potential buyer by checking references and running background checks. You will want to make sure that the people you enter into a rent to own agreement with are able to pay you each month until they qualify for a mortgage.

Consult A Pro

Hiring a professional such as Fresh Start Home Sales to help you with the set up of your rent to own agreement is crucial when selling your house this way. We can help you set up the contract, find the right buyers, answer all of your questions, and make sure everything is handled legally and ethically. By utilizing our expertise in the rent to own market, you’ll finally be able to sell your house, get your asking price, and be able to create an income-producing asset for you and your family.

Use a rent to own contract to sell your house in Atlanta! Contact us today for more information!

from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/5-tips-for-selling-your-house-via-a-rent-to-own-contract-in-atlanta/
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