Selling via rent to own can be an excellent option that many Atlanta homeowners fail to consider. Learn more about how the process works and what benefits you will receive in our latest post! A rent to own agreement can be an excellent way for a Atlanta homeowners to sell their house fast. The financial benefits are very rewarding as is the security of a regular income from the property. That said, there are some things a seller should be aware of when using a rent to own agreement to sell a house fast in Atlanta . Keep reading to learn what they are and how you can create a rent to own agreement that will protect your best interest while helping you to sell your house fast in Atlanta ! Handling DefaultWhile the odds of your potential buyers defaulting on the agreement is relatively low, you’ll need to know what to do if it happens. Until your potential buyer is able to get a traditional loan and pay off their debt to you, the property will still be in your name. Much like a bank, if your tenant isn’t paying, is causing damage to the house, or is somehow defying the agreement set in place, they are running the risk of foreclosure, while you will be able to retain full ownership, holding on to the down payment. Creating A Legal ContractA rent to own agreement should be very comprehensive as to protect both the buyer and the seller. It should contain clauses highlighting who is responsible for what, important dates, and penalties for violation of the agreement. You don’t want to leave room for any discrepancy or disagreement between you and your potential buyer. To ensure your agreement is legally binding, reach out to a local real estate attorney or call Fresh Start Home Sales to help you facilitate the rent to own process. Finding The Right TenantsUsing a rent to own agreement opens up a whole new world of potential buyers. People who couldn’t quite qualify for traditional funding due to a low credit score or lack of down payment may be able to meet the qualifications set forth in your agreement. There are many great buyers out there who are being held back due to a blemish on their credit report. The key is to find the buyers of genuine character who will follow through on their obligation to you. Once the right tenants are found, you will create a win-win situation for all parties involved. Keep in mind that there is a reason traditional banks had denied them in the past, so be sure to do your homework on your potential buyer before entering into an agreement. Being Back Where You StartedWhile it may not happen often, you do run the risk of your tenant being unable to buy at the end of the lease term. This means you will still be the owner and can either try to list at this point or enter into another rent to own agreement. While this may seem frustrating, you can actually come out ahead from a financial standpoint. Sure you didn’t sell the house, but you were able to collect a higher than average rent plus a non-refundable down payment for your troubles. Who knows, the market may rise dramatically during this time and you may be able to sell for even more than you would have before the agreement! Selling via rent to own in Atlanta can be very beneficial to homeowners looking for a way to quickly make money off of a property they own. Our team can help you understand the risks and the reward so you can make the selling decision that is right for you! Learn more about selling via rent to own by reaching out to our team today! 678-337-1165The post 4 Things You Should Be Aware Of When Selling Via Rent To Own in Atlanta appeared first on Fresh Start Home Sales. via Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/4-things-you-should-be-aware-of-when-selling-via-rent-to-own-in-atlanta/
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AboutFresh Start Home Sales was created to help individuals and families rent to own homes in good areas with great schools. We help people who have damaged or bruised credit or are self-employed and cannot qualify for a mortgage to rent to own a beautiful home in a great neighborhood for up to 3-5 years. They will agree to take that time to improve their credit and save for a more substantial down-payment to buy the house they are already living in and enjoying. We also help people who are relocating to our area who want to live in a great home with the possibility of owning that home in the future. These potential home owners like the flexibility of rent to own homes because they are unfamiliar with the areas so don’t want to get tied into a mortgage until they are sure they want to buy the house. It is somewhat of a try it before you buy it arrangement that suites everyone involved. Should any of our tenant-buyers choose not to buy the house they simply have to after 1 year give 60 days’ notice leave the home in good condition and get their security deposit back and are fully relieved from any obligation to buy that home. Contact:
Fresh Start Home Sales Address: 2330 Scenic Highway Snellville, GA 30078 Phone: 678-337-1165 E-mail: [email protected] Website: https://www.freshstarthomesales.com/ Find Us Online: 500px Bitly Box Diigo Dropbox Evernote Postach.io Instapaper Newsblur Nimbus OneDrive OneNote Quip Todoist Toodledo Trello Tumblr Weebly WordPress Facebook Page MySpace Blogger Google Drive Youtube Google+ Page Recommended Links: About.me Alternion BrandYourself FollowUs Gravatar BeHance Linkkle Ello.co Carrd.co Scoop.it Zumvu iLink Archives
March 2023
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