Wednesday, 14 April 2021

5 Solutions to Help Anyone Buy Their First Home in Atlanta

5 Solutions to Help Anyone Buy Their First Home in Atlanta

Buying your first home is seldom easy. It can (and usually does) test your patience, your endurance, and your resilience – and there are many ways the whole process can slide sideways, resulting in a missed opportunity or (even worse) a purchase you come to regret. And that’s why most first-time buyers will benefit from a little help and guidance. With that in mind, we offer these 5 solutions to help anyone buy their first home in Atlanta.

1. Make Sure You’re Ready to Buy That First Home 

Your very first step toward buying your first home in Atlanta should be to determine whether you are really ready to do it. “Homeownership is a lot more expensive than renting since you’re responsible for added costs like home repairs, utility costs, garbage pickup, water, and electricity. You also need to pay for taxes and insurance related to your home. These costs add up quickly, and if you are not financially prepared, you may end up in a bad position.”

Take a look, then, at your debt and begin reducing it in order to be in a better position to afford all the costs of buying and owning your first home in Atlanta. Also, you can determine your readiness to buy a home by setting up – and sticking to – a budget that parallels the costs of homeownership. If you’re able to stick to it and put all the money set aside in savings for a few months, then you likely are ready to buy that first home.

2. Get Preapproved Early On

Now, after determining your readiness to buy and ability to afford the costs of ownership, you should get preapproved for a mortgage loan. In fact, you should apply for preapproval before you even start shopping for a first home in Atlanta.

“A mortgage preapproval is a lender’s offer to loan you a certain amount under specific terms. Having a preapproval letter shows home sellers and real estate agents that you’re a serious buyer, and can give you an edge over home shoppers who haven’t taken this step yet.”

3. Understand Your Loan Options

Also, in buying your first home in Atlanta, you should shop for lenders. Don’t just jump at the first offer of a loan from a lender because you may be able to get a better deal elsewhere. 

In addition, it’s a good idea to have some understanding of the various loan options in order to know what is best for your situation. Are you, for example, aware of the various options that will allow you to avoid paying for private mortgage insurance (PMI)? These are . . . 

  • A conventional mortgage with a 20% down payment
  • USDA loan/VA loan – zero down payment programs
  • FHA loan – 3.5% down payment often without PMI requirement
  • 80/10/10– “10% down payment with 10% as a second mortgage to avoid PMI, which in turn lowers the monthly rate, more often than not”

Your Atlanta real estate agent can provide some assistance in this area. To discover more, just call 678-337-1165.

4. Choose the Right House and Neighborhood

Sure, you want to buy a Atlanta first home that ticks as many items on your have-to-have and want-to-have lists as possible. But keep in mind that the neighborhood is just as important as the home itself. For you aren’t just buying a home – you’re also buying into the neighborhood. So here are a couple of things to be mindful of . . . 

“Think about your long-term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow. Check out potential neighborhoods thoroughly. Choose one with amenities that are important to you, and test out the commute to work during rush hour.”

5. Find the Right Agent

And, certainly, one of the most important solutions for buying your first home in Atlanta is having the right agent in your corner. “The agent/buyer bond is particularly strong with first-time homebuyers .. . as the buyers often need extra detailed explanations of each step in the process. This certainly takes more time, effort, and patience on the part of the agent, and not all agents are naturals in this department. It’s important to feel comfortable with your agent like you can ask questions and get reliable answers.”

But finding an agent who can and will do these things typically requires a lot of time researching and interviewing several agents to find the one who is the best fit for you. There is, though, an easier and better way. And that is to go with an agency known for agents who have the necessary experience and expertise, as well as the willingness to do what clients need. So if you’re ready to buy that first home in Atlanta, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/first-home-in-atlanta/
via https://www.freshstarthomesales.com

4 Things You Shouldn’t Do When Buying a House in Atlanta

After spending weeks or maybe months searching for the perfect house, the last thing you want is to find out you can’t buy it after all. There are several mistakes home buyers often make that land them in this situation, most of them financial mistakes. To help you avoid making these mistakes, here are 4 things you shouldn’t do when buying a house in Atlanta.

1. Don’t Overreach and Don’t Be Emotional

The most common mistake buyers make when buying a house in Atlanta is overestimating what they can actually afford and buying too much home. When this happens, they wind up with very financial wiggle room and so are perpetually on the edge of defaulting on their mortgage loan and facing foreclosure. To avoid this you need to do two things. . . 

First, be aware that the cost of buying a house goes far beyond your monthly mortgage payments. You also need to factor in these one-off and recurring costs:

  • Closing costs
  • Attorney fees
  • Repair/maintenance costs
  • Property taxes
  • Homeowners insurance
  • HOA fees
  • Private mortgage insurance

The other thing you need to do is avoid letting your emotions rule your decision-making. Falling in love with a home on an emotional level can keep you from objectively assessing affordability. Your agent can help you avoid this mistake and can keep you on track. To discover more about this, contact a Atlanta agent at 678-337-1165.

2. Don’t Damage Your Credit Score or Open a New Line of Credit

And when buying a house in Atlanta, you shouldn’t do anything to damage your credit score or open any new line of credit.

Remember that any time a business checks your credit score, your score takes a little hit. These little dings may not seem like much, but they matter when your score is borderline. If, for example, you are trying to get preapproved for a mortgage loan and your score barely meets the minimum requirement, every point counts. 

Similarly, don’t open a new line of credit – even if the purchases you open a line of credit for seem like necessities. For instance, you may be tempted to buy new furniture to outfit that new home you’re about to buy. But if you don’t have the cash on hand, you’re better off waiting. If you open a new line of credit, it could throw your debt-to-income ratio out of whack, and then you may not qualify for the mortgage.

3. Don’t Miss or Be Late on Payments

A related thing you shouldn’t do when buying a house in Atlanta is to miss or be late on any payments. Even an oversight here can damage your credit. So be sure to pay bills on time. 

Suppose you are paying on a current mortgage. If you miss a payment, it could have serious consequences for your credit and your ability to buy the new house. It could make you ineligible for a loan for at least a year with most lenders.

You shouldn’t even miss making payments for less significant things like utility bills. Even if you miss a payment months prior, it could still jeopardize your chance of securing financing for buying a house in Atlanta. And if a missed payment doesn’t lower your credit score below the limit, you still may have to re-apply for a mortgage loan, and the delay could cause you to miss out on the home you really want.

4. Don’t Change Jobs

When buying a house in Atlanta, you should definitely avoid changing jobs. Even a move up to a better job could hold you back. Any change in job status could cause your lender to question your financial stability and so consider you a greater risk. 

Certainly, going from, say, full-time to part-time or from salaried to commission will raise red flags with your lender. But industry pros als0 advise that while moving in the other direction to a better position shouldn’t impact your closing, it’s still better to remain in your current position.

Bonus: Don’t Fail to Work With a Atlanta Agent

A final thing you shouldn’t do is fail to work with a good local agent. Your Atlanta agent can help you avoid the missteps laid out above as well as the many others that litter the path toward buying a house. And we have the agents who can provide the critical guidance you need. Contact us today at 678-337-1165 if buying a house in Atlanta is in your sights.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/things-you-shouldnt-do-when-buying-a-house-in-atlanta/
via https://www.freshstarthomesales.com

Wednesday, 7 April 2021

5 Solutions for Potential Atlanta Homebuyers Who are Struggling to Save a Down Payment

5 Solutions for Potential Atlanta Home Buyers Who are Struggling to Save a Down Payment

For most people, a big part of the American dream is still homeownership. But many people are kept from realizing that dream because of the necessary down payment. It’s a big chunk of money, and saving for a down payment is harder than ever. And that’s especially true for Millennials, who face challenges that their parent and grandparents didn’t, not least of which is their typical large student-loan debt. There are, however, some ways for first-time buyers to meet and overcome the challenges. Read on, then, to discover 5 solutions for potential Atlanta homebuyers who are struggling to save a down payment.

1. Have a Plan

Any large and difficult undertaking requires a plan, and that goes especially if you want to save a down payment for a Atlanta home. The best way to set up a down payment savings plan is to know how much you need to save – that is, how much the down payment will be – so that you’ll have a clear-cut goal to work toward. 

That doesn’t mean, however, you’ll have to save for the traditional 20% down payment. Doing so will help you avoid having to pay for private mortgage insurance, but it’s just not possible for many Atlanta home buyers today. If you take advantage of assistance programs, you can plan to save a smaller down payment. But do have a figure in mind so that you have a goal to shoot for.

The next part of your plan to save a down payment involves the time frame. How long will it take you to save the required amount? Just be realistic here, and don’t set an impossibly short time frame.

You should also consider when putting together your saving plan, where you will put the money you save. Whatever savings instrument you use, keep in mind that this isn’t an investment. You’ll draw the money out as soon as you hit your goal. But, then, if it’s too easily accessible, you may be tempted to spend some of it.

2. Freeze Spending and Cut Out the Extras

This next of our solutions for potential Atlanta homebuyers who are struggling to save a down payment may require a little sacrifice and will definitely take some discipline. But it will be worth it.

The first thing to do is implement a spending freeze so that you’ll have much more money coming in than going out, thus allowing you to increase your savings rate. Certainly, you shouldn’t make any large purchases such as a newer car, but not spending on the small things can save a lot over time. 

Besides the spending freeze, you should also cut current recurring expenses, for example:

  • Cancel the gym membership you use only once or twice a month
  • Cut out the $6.00 cup of coffee every morning
  • Eat out only on special occasions
  • Cancel the cable
  • Buy generic brands when shopping

3. Use Automatic Saving

An easy way to save a down payment is by putting money into savings before you ever see it or touch it. “Whether your employer offers an automatic savings plan or you download an app to save your spare change, the more automatic you make saving, the more successful you will be. Left to your own devices to transfer money out of your checking account and into a savings vehicle, it may never happen. That dinner with friends or a new pair of shoes can easily get in the way.”

Look into setting up an automatic withdrawal from your paycheck to be automatically deposited into a savings account. Another thing you can do is to use one of the many apps that round up your purchases and deposit those few cents into a savings account – it adds up.

4. Pause Retirement Savings

You might also consider, as a temporary measure to help you save a down payment, pausing your retirement savings. Certainly, this isn’t a long-term strategy, but done for a short time, it can help you hit your down payment savings goal much sooner.

For example, if you normally put $500 of your monthly paycheck into a401(k)s, back off on that for, say, two years. At the end of those two years, you will have saved $12,000 – not counting the other contributions to your down payment savings. Then, after you hit your goal, start saving for retirement again.

5. Take Advantage of Assistance Programs

Now, as we mentioned earlier, you don’t necessarily have to save a down payment of 20% of the purchase price. There are several state and federal down payment assistance programs that will allow you to buy a Atlanta home with a much lower down payment. Here’s why . . . 

“The government wants people to own homes. To spur homeownership, local and federal agencies offer down payment assistance programs. To be eligible for these programs, buyers need to meet certain requirements that can be based on the income of the borrower, the location of the property, or the buyer’s identity as part of a particular group.” There are, for example, such programs for “veterans, first-time buyers, teachers, and firefighters.”

Find Out More About How to Save a Down Payment

These solutions for potential Atlanta homebuyers who are struggling to save a down payment will indeed work. Still, they may not work for you considering your unique circumstances. But there’s always more than one way to skin a cat. To discover more strategies to save a down payment, as well as ways to get a lower down payment, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/atlanta-homebuyers-save-a-down-payment/
via https://www.freshstarthomesales.com

Thursday, 11 February 2021

How To Find More Buyers For Your House In Atlanta

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/
via https://www.freshstarthomesales.com

Tuesday, 9 February 2021

Benefits of Owner Financing for Atlanta Home Sellers

Benefits of Owner Financing for Atlanta Home SellersThere 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

Thursday, 4 February 2021

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

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

Monday, 1 February 2021

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

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/
via https://www.freshstarthomesales.com