Do you need to sell your house in Miami? There are many alternative options to consider, that will save you time and money! In this post, we will explore why selling via a “rent to own” agreement will benefit you and your current situation!
Selling a Property “Rent to Own” in Florida!
Find More Potential Buyers
These days, financially stable families still struggle to qualify for a traditional loan. However, a “rent to own” agreement will allow couples and families who can’t get a downpayment together to start the homeownership process.
This means you are essentially opening the door to a number of new buyers who may not have been able to purchase otherwise. This gives you more options, money in your pocket faster, and the chance to get your asking price without any fuss or negotiation.
Get More Than You’d Expect For The House
You don’t have to worry about losing money or your “rent to own” buyers not paying. As per your contract with them, you are protected should they default on any payments. Typically, you (the owner) will collect a down payment, plus a higher than average rent payment each month for the property.
If the potential buyer should default, they risk losing the property along with their initial downpayment, meaning you assume very little risk and collect a higher than average rent payment each month.
Generate Routine Income
As we’ve already mentioned, the “rent to own” option generates a hefty amount of rent each month. As such, if you don’t need the equity held in your property immediately, a “rent to own” agreement to sell your house fast in Miami is an excellent way to create a steady income.
Plus, unlike renting to a standard tenant, your potential buyer is invested in the property and will want to make their payments on time. The last thing anyone attempting to buy via “rent to own” would do is risk losing their money and their chance to buy a home.
A Faster Process
Listing your house for sale on the MLS in Miami can be time-consuming and not to mention expensive. During this time, holding costs can skyrocket, especially if the house is sitting vacant. Utility bills, maintenance, taxes, and insurance costs will still be your responsiblity.
However, when you use a rent to own agreement to find a buyer fast, you buyer will either take care of those costs, or you’ll easily be able to cover them with the high amount of rent they’re paying each month.
Save On Listing Costs
Yes, you will want to make sure your house looks good, but you won’t have to spend a fortune fixing it up or keeping it clean for showing after showing (as an agent would have you do). The truth is when you sell your house “rent to own”, your buyers are purchasing not only the house but also the opportunity to buy which they may not have had otherwise.
This means you won’t find yourself spending money on marketing, agent fees, hefty commissions, or any of the other costs that sellers often face when selling to a typical retail buyer.