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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How To Calculate The Costs To Hold A Property In Atlanta

When you are thinking about selling your Atlanta house, be sure you know the costs to hold the property. Keeping the property might be costing you more than you think. In our latest post, we take a look at the most common holding costs homeowners face when trying to sell their homes in Atlanta .

Holding costs can quickly eat away at the sale price you will eventually receive for the home. As long as your house is on the market, there are a number of costs you will be responsible for. When selling your house to a private buyer who requires financing, the process to sell your Atlanta house can take months, resulting in potentially thousands of dollars you will have to spend. However, when you sell your house directly to Fresh Start Home Sales, the holding costs can be eliminated on only a matter of days!

Mortgage Payments

The most obvious expense is the monthly mortgage payment. If you own a home you’re not happy with or if you are paying a loan on an underperforming rental, the hefty mortgage payment can be a lot to deal with each month. Your mortgage is undoubtedly at least a few hundred dollars a month. This is money you could be spending on a new property instead of the one that’s no longer working for you.

Utilities

Whether or not you are living in the home while it is up for sale, you will need to make sure the utilities are working for any potential buyer who may want to see the home. They will likely check out the light switches and the water pressure… things that can’t be done if you have turned off your utilities. Plus, you can’t really show a home in the dark! In addition, inspectors will need the utilities on in order to do their job. While your bills might be lowered if you are no longer living in the home, you should still plan on paying a few hundred dollars each month to your bills.

Property Taxes

Depending on where you live, the taxes can add up fast. People living in states like New Jersey or California will see these costs eat away at their profits even faster due to high property taxes which must be paid. You are responsible for the taxes up until the closing date. When working with a traditional buyer, the closing can take months due to the lenders red-tape. When selling directly to Fresh Start Home Sales, your financial obligations to the home can end in only a matter of days.

Homeowners Insurance

Homeowners insurance is a necessary evil every homeowner is faced with. Depending on your home and policy, your insurance can help to quickly eat away at your profits. As long as you are listed as the owner, you will be responsible for the insurance costs. You should also keep in mind that insurance will be high for landlords as opposed to owner-occupied properties.

Maintenance

If you decide to list your Atlanta house, your home will inevitably need maintenance work while it is listed on the MLS. A good rule of thumb is to set aside 1% of the properties value for routine maintenance and minor repairs each year. This way you aren’t blindsided by unexpected costs while trying to sell your home. And remember, the faster you sell your house, the less maintenance you will be responsible for.

Repairs

In addition to the regular repairs and maintenance you will likely face, there is always a chance a major repair will be needed while you are waiting for a buyer. Maybe the roof starts leaking or the hot water heater blows. Things like this can be costly but should definitely be fixed in order to attract more buyers. You should always have an emergency fund set aside to deal with such expenses so you aren’t stuck with a damaged property while trying to sell it. When you sell directly to Fresh Start Home Sales, all expenses are covered. Repairs and all, we buy as-is.

HOA Fees

If the property is located in a private community, you’ll be stuck with those homeowners association dues until you are no longer listed as the owner of the house. Depending on your community, HOA fees can be high, and some can change rapidly. Don’t forget to factor these costs in when it’s time to sell. Things like this can often be overlooked when trying to sell the property.

As a homeowner in Atlanta who wants to sell, it important you keep all of your holding costs in mind. When they are all added up, the amount can be thousands. This can severly alter how much you are making on the sale. When selling your house in Atlanta , don’t forget to account for the holding costs. And don’t forget to find out how a direct sale of your property will benefit you!

To help better understand the costs to hold a property in Atlanta , get in touch with Fresh Start Home Sales today! 678-337-1165

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How To Really Run The Numbers When Reviewing Offers For Your Atlanta House

When reviewing offers for your Atlanta property, it important that you know how to correctly run the numbers. Just because an offer looks good on paper, doesn’t mean it is the best choice for you. Learn more about how to crunch the numbers in our latest post! 

While the highest offer might appear to be the best, this isn’t always the case. There are many numbers you will need to factor in when reviewing offers for your Atlanta house. Below, we discuss some of the costs you may face when selling your home in the Atlanta area.

Closing Costs

With a traditional sale to a private buyer, a seller can expect to pay about 2-5% of the final sale price in closing costs. While this varies by the transaction, you’ll want to budget at least 5% to closing costs to ensure you are covered. You don’t want to be surprised at the closing table, owing more than you had planned for.

Repairs

While reviewing offers for your Atlanta house, you’ll want to consider all of the costs you encountered making repairs and fixing it up. Repairs aren’t always cheap, and you will likely have to face them before putting your Atlanta property on the MLS. In addition, your potential buyer will likely attempt to negotiate even more repairs once the inspection has been completed. Spending money on a house you ultimately want to sell can be extremely frustrating, with a direct sale, you’ll be able to keep that cash in your pocket.

Other Contingencies

There are all kinds of contingencies a buyer might put in their contract. Having a contingency protects the buyer should something go wrong. If there is a problem with the property, they will be able to back out of the sale without any penalty. Some common contingencies include things like not being able to sell their current house in time. If their lender backs out of the deal. And if the inspection comes back with a significant number of repairs that need to be made.

Timeline

How fast will your buyer be able to close? As any property investor will tell you, the longer you hold on to a property, the more it will end up costing you. Holding costs can add up quickly, eating into your profits. While the property in on the market, you’ll have to continue paying for things such as homeowners insurance, property taxes, utility bills, possibly a mortgage, and routine maintenance on the property. You are responsible for these items up until the day of closing. If your house sits on the market for a while or if your sale falls through, you could find yourself stuck paying these costs for the next several months.

Risk

When reviewing offers you’ll want to calculate the risk involved in the sale. If your buyer is using financing, you’ll want to be prepared just in case things fall through. Often times, a lender will back out of the deal if a property appraises too low. Sales fall through every day, and you’ll want to be prepared if yours does too. If you’re working with a buyer who is using financing, make sure they are pre-approved, not just pre-qualified.

If you choose to sell to a cash buyer, your risk of things falling through drops significantly. Cash buyers will have the money ready to go before making an offer for your property. This will save you days or even weeks as opposed to dealing with lender requirements. When you sell directly, you won’t have to deal with appraisals, inspections, repairs, or any red-tape from a lender.

If you choose to work with a local {market_city] real estate agent, you’ll have to commit to a listing agreement. Once you have entered into this agreement, your agent will be entitled to their commission, or at least a part of it, no matter how the house sells. However, if you are able to find a reputable buyer such as Fresh Start Home Sales before hiring a Atlanta agent, you’ll be able to instantly save on commission costs. This can be upwards of 6% of the final sale price that you’ll be able to keep in your pocket. This could amount to thousands of dollars you will e able to use for your next property should you so desire.

Appliances and Fixtures

Sometimes when selling a house, the furniture, fixtures, and appliances will all come into play. Does your potential buyer want to keep any of these items or will you be taking everything with you? If you are leaving any items with the new buyers, you’ll want to factor in how much it will cost you to replace these items. Having to replace appliances, fixtures, and other items in your new home can cost a fortune. Make sure you are prepared for these replacement costs before accepting an offer for your Atlanta property.

We can help you know what to look for when reviewing offers for your Atlanta property. Get in touch with us today! 678-337-1165

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4 Tips To Help You Choose The Best Offer For Your Atlanta House

There are many things to consider when choosing the right offer for your property. The best offer may not be the highest. In our latest post, we will offer tips to help you choose the best offer for your Atlanta house.

Having multiple offers or different options when it comes to selling is a dream come true! Every seller would love the problem of trying to decide between multiple offers. However, you’ll want to employ some strategy when deciding which offer to pick. Just because the offer looks good on paper, doesn’t mean it’s the right one. Keep reading to learn more about some things to consider when deciding which offer to accept for your house in Atlanta .

Tip #1 – The Actual Profits

When looking at an offer on paper, it’s important to consider all of the costs you will incur, and deduct them from that offer price. This will give you a good idea of where you stand financially. A few things you might want to think about are your closing costs which will run about 2-5%. If you are leaving appliances or furniture behind when you move, these items may need to be replaced, which is an additional cost you will encounter after the sale. You should also factor in the cost of repairs needed in order to sell. You will likely make some repairs upfront and a few more after the inspection has been completed. Keep in mind, if you sell your house directly to Fresh Start Home Sales, there are no repair or closing costs to worry about.

Tip #2 – How They’re Buying

Some buyers will pay in cash, without requiring a loan, while others will need to talk to the banks about financing. Cash buyers are often favored by sellers due to the faster closing speed and less red-tape. The offer is much more likely to go through as you are not bound by the results of an appraisal. Banks pull funding all the time because houses don’t appraise high enough. If your buyer is using bank financing to acquire the home, make sure they have been pre-approved so you don’t have to wait even longer for that to occur. Please note, that being pre-qualified is different than being pre-approved. With a direct sale to Fresh Start Home Sales, you won’t have to worry about any hassles or waiting. The funds are available to purchase your Atlanta house outright, without any hassles or waiting. Our process is extremely simple and straightforward, with no red-tape to worry about.

Tip #3 – The Timeline

How quickly can the closing take place? The faster you eliminate your holding costs, the more cash you will be able to put in your pocket. Ask any investor and they will tell you that once you have decided to sell, the longer you end up holding a house, the more it is costing you. Your costs of ownership add up each month. Utility bills, property taxes, homeowners insurance, standard repairs, and maintenance are a few of the costs you will end up paying until the home closes. Once you add up all of the costs you will be facing month after month, your total could be in the thousands. By selling your house directly to Fresh Start Home Sales, you’ll be able to close quickly and eliminate your holding costs right away.

Tip #4 – Buyer Intent

Do you want to make sure your home goes to a good home? Many people feel an attachment to their property, and with good reason. It has likely been the place of many memories and laughs. When selling your Atlanta home, when you find a buyer who will love the home as much as you do, you’ll have the peace of mind needed in order to sell confidently. When deciding which offer to accept for your Atlanta house, learn more about the people who want to buy and why. What are their plans for the home? Are they planning to live there and love it as you did, or do they want to tear the property down for something better? Remember, it is never ok to discriminate, but you do have the right to decide which offer is right for you! When selling your Atlanta house, it’s nice to have the peace of mind in knowing that the new owner will love the property as much as you do.

When choosing the best offer for your Atlanta house, it’s important to consider more than just the price. The selling timeline, method of purchase, and intent of your potential buyer can all have an impact on which offer you ultimately choose. To learn more about the costs and alternate ways you can sell your house in the Atlanta area, feel free to reach out to us at any time.

Do you want to learn more about how to choose the best offer for your Atlanta house? We’d love to help you run the numbers! Get in touch today! 678-337-1165

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