Selling your property via a rent to own agreement is an excellent way to easily get the price you want for your Atlanta house. The process is simple and you’ll likely be able to find a buyer right away, even your current tenant! Learn more about how to set it up in our latest post! There are many reasons why homeowners in Atlanta are choosing to sell their properties via a rent to own agreement. If the cash isn’t needed right away, there are many financial benefits to selling your house in this manner. Below, we outline 7 steps to sell your property via a rent to own agreement in Atlanta ! Step #1 – Find The Right TenantsWhen entering into a rent to own agreement with a potential buyer, you’ll want to make sure it is someone you know and trust. If you would like to ultimately sell the house, you don’t want to have to worry about the deal not going through when the lease period is up. You are delaying the receipt of your funds in order to get the price you want, make sure you are working with someone who is worth it! If you have a great, long-term tenant, they are the first place you might want to look when trying to find the right people to move in. Step #2 – Run The NumbersAs a seller, you are sacrificing immediate cash for a long term gain, so you will want to make sure it’s worth it. How much will you need upfront as a deposit? What about an option fee? You’ll need to figure out what you’ll need to charge in rent each month in order to make it worth it for you. You’ll need to determine which costs will be passed on to your tenants and which costs you will still need to manage. As you will still technically be the owner of the house during the lease period, you’ll ultimately be responsible for taxes and insurance. Make sure the monthly rent you are changing can cover these amounts! With a rent to own agreement, the sale price is typically locked in at the time of purchase. However, in some cases, a tenant will agree to purchase at the market value at the time of the actual sale. While you run the risk of your home value dropping, you might also be able to get a higher price when all is said and done. If your tenant agrees to this, it is something you will want to consider! Step #3 – Agree On TermsThere are many things a buyer and seller must agree to before executing their rent to own agreement. Before the buyer and seller sign on the dotted line, make sure to have an attorney look things over. Even the smallest mistake in your contract could have a huge impact on your ability to sell on the terms you had planned on. A few of the financial details you will want to cover include:
Spelling everything out as clearly as possible from the get-go will save you from any disagreement and frustration during the lease process and when it’s time to officially sell. When handled correctly, a rent to own agreement is a great way for a homeowner to sell their house in Atlanta . Contact our team today to learn more about selling your property via a rent to own agreement in Atlanta ! 770-769-5295The post 3 Steps To Selling Your Property Via A Rent To Own Agreement In Atlanta appeared first on Cash Home Buyers Atlanta. from https://www.cashhomebuyersatlanta.com/7-steps-to-selling-your-property-via-a-rent-to-own-agreement-in-atlanta/
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Selling property using a rent to own agreement is becoming increasingly popular with homeowners in the Atlanta area! The process is underutilized and can be beneficial for both the buyer and seller when structured properly. Learn more about how to do it in our latest post! While a rent to own sale may not be the first thing you think of when selling your house in Atlanta , it can be a beneficial option in the right situations! If you want to open the door to a whole new market of buyers, consider the many benefits a rent to own agreement can offer you! How Does It Work?When a tenant or buyer enters into a rent to own agreement, they are agreeing to pay (an often increased) rent each month for a specific period of time. There will likely be a down payment made to the owner in order to secure the contract. Once the rental period has elapsed, the tenant will need to either obtain a loan to purchase the property outright from the buyer or walk away from the deal, thus losing and deposit money they had invested. Term of The ContractWhen a homeowner and a tenant enter into a rent to own agreement, there are a number of terms that will need to be agreed upon before the contract is signed. Lease TermHow long will the tenant be able to rent the property before a purchase? Typically, the rental period will last 1-2 years. Down PaymentIn many cases, a tenant will make a down payment to the homeowner to secure the contract and to show good faith. While this amount won’t be as high as the down payment for a traditional bank loan, it should be enough to keep the potential buyer from easily backing out. Monthly RentTo some extent, the seller is doing the buyer a favor by allowing them to rent before actually buying. While the process has many benefits for the seller, a rent to own agreement will open the door to home ownership for people who likely wouldn’t have been able to do it otherwise. MaintenanceTypically, the tenant will handle the maintenance of the property during the rental period. This should be discussed between the buyer and seller and detailed within the contract. TaxesThe tenant will also likely take on the property tax payments. This alleviates a large cost for you as a homeowner. CreditWith the deposit from the prospective buyer and the increased rent each month, many agreements will state that a portion of this money goes toward the down payment on a traditional loan. What Are The Benefits?Get Your Asking PriceWhen you use a rent to own contract to sell your house in Atlanta , you will open the property up for many more potential buyers. As such, there will be more interest, giving you the opportunity to easily secure asking price within the terms of the loan. Higher RentHouses under a rent to own agreement often collect a higher rent each month. While some of these funds may be used toward the tenant’s down payment on the home, you will still be able to see great profits, as well as the security of having a tenant in place throughout the duration of the lease term. DepositIf the tenant defaults on the agreement, the deposit and the amount paid in rent, is yours to keep. You might be back where you started, but you will be there with more cash in your pocket. How Do I Get Started?To get started you will want to find the right tenants to enter into the agreement with. Draw up a contract detailing every aspect of the agreement as mentioned above. Have your lawyer review the contract to ensure everything is in order. Cash Homebuyers Atlanta can make the entire process of offering your property via a rent to own agreement simple and profitable. Contact us today to learn more about selling your Atlanta house via a rent to own agreement! 770-769-5295The post The New Trend In Atlanta Home Sales: Rent To Own appeared first on Cash Home Buyers Atlanta. from https://www.cashhomebuyersatlanta.com/the-new-trend-in-atlanta-home-sales-rent-to-own/ A great way to get your asking price for your Atlanta house, is by selling via rent to own agreement. Many sellers don’t realize just how beneficial the process can be. Learn more about how it works and how it will benefit you in our latest post! If you have had trouble selling your house in Atlanta or if you haven’t been able to get an offer reflective of your asking price, a rent to own sale might be an incredible option for you. If you don’t need the cash from the sale immediately, a rent to own scenario can be one of the most lucrative ways to sell your house. How A Rent To Own Agreement WorksA rent to own agreement is entered into between a buyer and seller and can provide benefits to both parties. The buyer will agree to rent the property for a specific period of time before they purchase outright with the help of a conventional loan. During the rental period, the rent will likely be higher than the market average and there will usually be a down payment made upfront. This helps to ensure the tenant won’t simply walk away once the rental period has elapsed. The tenant is given 1-3 years before the purchase will need to be made. The sale price can be negotiated up from or be based on market data at the time of the sale. By agreeing on a price today, you’ll be able to get your asking price, plan for the future, and continue to make a passive income over the next couple of years. Perks for the buyer:
Perks for the seller:
How To Set One UpThere are many standard boilerplate agreements you can use to cover the basics. Additional terms and any other details should be added to the contract as a layer of protection. You will want to make sure you are covered if something goes awry. Before executing the final agreement, have your lawyer look it over to make sure all bases have been covered. Some specifics you will want to include are:
There are many other things you can include in your rent to own agreement, but the above items should be at the top of the list. Ask your lawyer, agent, or consultant about anything you may have overlooked in your agreement. How To Get Your Asking PriceWhen you enter into a rent to own agreement with a buyer, the sale price is typically determined at this time. Doing so will allow you to get your asking price for the home as well as locking in the sale price for the buyer. Prices could rise dramatically, but they will still be able to buy at the agreed upon price. Learn more about selling via rent to own agreement! Contact us today for more info! 770-769-5295The post Get Your Asking Price By Selling via Rent To Own in Atlanta ! appeared first on Cash Home Buyers Atlanta. from https://www.cashhomebuyersatlanta.com/get-your-asking-price-by-selling-via-rent-to-own-in-atlanta/ Selling a house directly to an investor comes with many misconceptions. People seem to have these ideas about what to expect based on stories they’ve heard or read about. But the fact of the matter is that most real estate investors are wonderful people, passionate about what they do. In our latest post, we will discuss four common myths people have about selling their homes directly to an investor. Some people like sewing. Some people like selling products. Others love designing houses, and other people love buying and selling them. At Cash Homebuyers Atlanta we love to help homeowners while restoring run-down properties. Real estate is our passion, as is helping homeowners in the Atlanta area! Below are four myths we would like to clear up about selling your house to an investor in Atlanta ! You Won’t Get A Good PriceWhen selling your house to an investor in Atlanta , you might have the idea that you aren’t going to get a fair price for your home. While we can’t speak for all investment buyers in the area, we can let you know that when you sell your Atlanta house to Cash Homebuyers Atlanta, you will always receive a fair and honest price for your property, based on current market conditions. We are very transparent about how we determine our offer prices. We’ll take into account recent area sales and the amount of work that needs to be done to make the property comparable to others on the market. We will happily make you an offer, leaving the ball in your court. There is never any obligation, we want to make sure that selling directly to us is the right decision for you! Investors Are Con ArtistsThis is far from the truth as well. Many “investment” buyers are families looking to invest in a rental, or people looking to flip properties because fixing up homes is what they love to do. Of course, there are some investors out there to watch out for, but that is true in any industry. If a real estate investor is interested in buying your home, hear them out. They might be able to offer you an excellent solution while saving you all of the costs of a middle man. Working with the right investor will ultimately save you time and money on the sale of your Atlanta house! Ideally, you will be able to find a solution where everyone wins! You’ll Be Hit With Hidden Fees And CostsAgain, we can’t speak for every real estate investor out there, but the majority operate openly and directly. This is how business gets done, and how everyone is able to save money on the deal. A fast, efficient, and straightforward process is the norm for most investors. When you work with Cash Homebuyers Atlanta, you’ll never be blindsided with any additional costs or hoops to jump through. We’re direct buyers, ready to cover all the costs so you can sell quickly and with peace of mind. We lay it all out there from day one, so you’ll never have to worry about any surprises. Our goal is to ensure you are incredibly happy with your selling decision, hitting you with hidden fees is the last thing we would ever do! The Closing Will Take Longer Than PromisedWhen you work with an investment buyer such as Cash Homebuyers Atlanta, a closing date is never promised until the offer has been accepted. Once we have a fully executed contract, we will be able to run the title right away and close on the property as quickly as possible. Of course, if issues like back taxes or liens need to be resolved, we will do what needs to be done in order to move on with the closing as planned. You will never have to wait while we find a buyer for your home. We are not assigning contracts, we are direct buyers with the ability to close on your property right away. At the end of the day, working with an investor might be the best way for you to reach your goals. Investors will know how to work with the title company to get things handled quickly. The entire selling process can be completed in just a few days as opposed to the traditional process of hiring an agent, listing on the MLS, waiting for a buyer, and going through the escrow process. Avoiding the escrow process will save you time and money! The escrow process allows time for buyers to complete inspections and appraisals, two things that typically aren’t required with a sale to a Atlanta real estate investor, at least when you are working with Cash Homebuyers Atlanta, we buy as-is! If you want to learn more about selling your house to an investor in Atlanta , we would love to help. Get in touch with us today to learn more about how selling your Atlanta house directly can benefit you! 770-769-5295The post 4 Myths About Selling Your House To An Investor In Atlanta appeared first on Cash Home Buyers Atlanta. from https://www.cashhomebuyersatlanta.com/4-myths-about-selling-your-house-to-an-investor-in-atlanta-2/ |
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November 2020
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