Everywhere you turn, every body’s saying that things haven’t been this bad since the great depression. One doesn’t hear much of anything else on the news. But as you know, if there’s a cloud, it’s got to have some of that silver lining somewhere. We just have to look. And even in this down real estate market there are always glimmers of hope and positive things to have as focal points. One such opportunity in the Charlotte NC area (including surrounding areas like Cornelius and Kings Mountain) is the newer trend of rent to own or lease option purchases.

Now, what could possibly cause you to actually do a rent to own in Charlotte Well, there are tons of ways this could be good for you. The following outlines the rent to own process itself and brings to light some of those aspects that may just be selling points for you.

When the owner of a particular property decides to make their home available via a rent to own or lease option, they do two things. They agree to rent their house for a specific term (it can be set for any time length, but is usually 1-3 years). Within that same time period the renter has the sole right to purchase the house. In order to be able to do this, the buyer usually has to bring a down payment to the table. This option consideration is most of the time more substantial than the fees associated with a normal lease, but smaller than the 20%, common with a standard mortgage.

While this is happening, the lessee will try, if needed, to become fully mortgageable so as the lease expires, they can purchase the home outright, thus completing the rent to own scenario.

Quite amazingly, many folks in Charlotte and in fact North America, have very little first hand knowledge of rent to own, even though it is such an effective vehicle for selling properties. But you can’t keep a great thing down and the secret is getting out. The most likely reason being rent to own is definitely the quickest, straightforward and cheapest way to buy or sell real estate. It takes the typical antagonism found between those who are buying and those who are selling and creates a situation where all parties can win.

So, if you were the buyer in a rent to own or lease purchase agreement, you would be ecstatic to realize that 1) your amount down is smaller than other types of buying transactions, 2) your credit profile, even with blemishes, is not a hindrance, 3) your not just helping your landlord get better off, as home prices go up you have a stake in that trend as well, 4) the rent to own process makes a higher priced property more affordable, and finally, 5) you have the added plus that you can begin to enjoy the Charlotte home you’ve always wanted now, as opposed to some distant “maybe” in the future.

After all, what’s the point in it taking longer than is needed. With Rent To Own, You don’t have to.

Now, the buyer’s not the only one that’s getting this great deal. As I said before the rent to own vehicle benefits all sides of the purchase. So, if you’re the one that has the house for sale, you also can look forward to a few major pluses coming you way: 1) you’re offering good terms, so you won’t have to settle for a reduced price and sacrifice you well deserved equity — even when real estate prices are low, 2) except in very rare exceptions, you’re able to charge at market rates or better, again because of the terms you are offering, 3) you have access the widest possible pool of buyers and more buyers means your house can sell faster, 4) with rent to own there’s little risk, 5) you don’t have to pay Realtors fees, and 6) the upkeep is the responsibility of the tenant/buyer and you wont have to be a landlord.

There’s a lot more that one could add to this, but we’ll live it here.

If you would like to get more information about Lease Purchase options or Rent To Own opportunities in Charlotte NC, please visit: www.treslist.com or send an email to info@treslist.com
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