Selling your house in Romoland with a rent to own agreement can be the best way to sell fast for the price you want. Learn more about how to do it in our latest post!
When thinking about selling a house in Romoland, many people don’t consider using a rent to own agreement to facilitate the deal. If you are able to delay receiving the full amount of the home, you will likely be able to find a buyer much sooner, while collecting the price you want for the home. In addition, using a rent to own agreement will provide you with cash from a downpayment upfront in addition to a higher than average rent payment each month. You will be able to make money while collecting the full price for the home in 1-2 years. Selling in this manner can be very beneficial for homeowners who want to sell their houses fast and for a great price.
Set Your Criteria
While opening your house to rent to own buyers, you’ll be giving a whole new pool of people the opportunity to buy your house. That said, you can’t enter into an agreement with just anyone. You’ll need to determine what you will accept as far as credit score, downpayment amount, and length of the agreement.
You are not entering into an agreement with your potential buyer indefinitely until they are able to buy outright. Instead, you need to work with a potential buyer who will be able to follow through on their end of the deal. Even if they have the best intentions, being able to actually follow through on the agreement is a different story. Before setting up a rent to own agreement for selling your house in Romoland, make sure you know what you will accept and what you are looking for in a potential buyer.
Agree On The Terms
Once you know what kind of tenant you are looking for, you will need to find someone who will agree to your terms. You will need to agree on the rent paid each month, the downpayment amount, and any portion of the rent that goes toward the purchase of the home. You will also need to define a timeframe that works for both parties. This is not an indefinite agreement. Within 1-3 years the renter must purchase the home outright or walk away, losing their downpayment and option to buy in the process.
Create A Legal Contract
When using a rent to own agreement for selling your house in Romoland, it is crucial that everything is set up legally. You don’t want to be hit with a lawsuit or find yourself in a place where you need to file one yourself. A rent to own agreement will be detailed, covering every scenario possible as to protect all parties. Stars and Stripes Real Estate can help you facilitate the process, of selling your house via a rent to own agreement, making sure everything is handled legally and professionally.
Having A Way Out
Tenants who don’t pay their rent are in violation of the lease agreement they made with you when they signed it. So once you decide that enough is enough, then eviction proceedings can begin. You’ll have to start by serving the tenant with a notice telling him that he has three days to pay you what he owes or else he will be evicted from your property. If he finds himself at the end of his rope without money for food or usefulness in his life, sometimes this notice is all it takes to make him turn around and do the right thing.