Browse Rent To Own Homes in Boca Raton, FL
Are you looking for a rent to own house in Boca Raton? If so, then browse the featured listings on this page, or signup to access our complete guide and listings for all lease to own properties in the Boca Raton area.
Featured Rent To Buy Houses in Boca Raton, Florida
Browse the following featured properties in the Boca Raton, Florida area, or click the link on this page to get access to the complete listings for Boca Raton rent to own houses.
How Rent To Own Real Estate Works
Also known as a lease option, rent to buy homes are a type of owner financing tor real estate properties.
While the terms of the agreements can vary from house to house, the typical scenario is one in which the owner is looking to sell the property but is willing to accept payment over a period of time, rather than an up front settlement.
In this case, the buyer and seller both agree on the selling price of the home, and the terms of the purchase agreement, specifying things such as payment terms, interest, and length of the agreement.
Usually, owner-financed properties are paid off much sooner than a traditional bank mortgage, but by allowing the renter time to accrue equity in the house, the renter can often roll over that equity into a traditional mortgage after 1-3 years, if the need arises.
Every month the renter/buyer makes a payment to the seller. Typically, part of this payment is credited as rent, while a second part is credited towards the interest on the loan and/or equity in the home. Over time, the renter can then buy out the seller, even if the renter didn’t originally have a large downpayment or the credit needed to qualify for a traditional mortgage.
Boca Raton Lease Purchase Homes and Houses
While there are many advantages to lease option, or lease to purchase homes, one of the main difficulties can be in locating the currently available properties.
Many rent to own listings are never uploaded to national or local databases, since it is common for sellers to work independently and not go through a real estate agent for these transactions. It is also common for sellers of owner financed, rent to buy properties to sell their homes casually, meaning that they are interested in selling, but are in no hurry to do so, meaning the listings are not widely publicized.
To find the full list of rent to buy properties in your area, you need to sign up for a dedicated listing service, which works to identify all of the relevant opportunities within your target geographical area.
Without a reputable listing agency, finding these properties can be extremely difficult!
Sign up below to get access to one of the most comprehensive rent to own listing services in the country.
Listings for Rent To Buy Properties in Boca Raton, Florida
If you’re thinking about buying a home in Palm Beach County, one of the prime areas you might want to consider is Boca Raton, Florida.
Known world-wide as a popular retirement destination, Boca Raton is so much more than a bunch of octogenarians living it up in the Florida heat. It also has a thriving nightlife, tons of incredible restaurants, and a good track record for putting on world-class concerts and other entertainment choices year round.
Additionally, Boca Raton is only a short ride from Fort Lauderdale, which hosts many more options and acts as a gateway to the broader Miami area, meaning you can literally get anything you want, at any time.
Properties in Boca Raton trend towards the upper middle class to the luxurious, but there are plenty of good deals to be found, as long as you know where to look.
One of the greatest opportunities now available in the area are homes that are for sale by owner. These houses are often offered on a lease option basis. That equates to a strong rent to own home market for buyers, and the ability to find good investment opportunities in many places across the city.
Rent to own houses aren’t just for people who are cash strapped or have low credit scores, they also help many individuals, couples, and families buy into the condo, apartment, or house they want but might not be able to afford were they relegated only to the narrow requirements of most mortgage lenders.
If you find yourself in that situation, or simply are interested in exploring the possibility further, than your best option is to sign up with an online listing service for rent to buy properties, which will allow you to browse through all of the homes available in your area, and quickly sort through the ones you like and those you don’t.
These services are also important when it comes to finding accurate and up to date listings, so you don’t waste your time browsing houses and apartments that sold three years ago and aren’t actually on the market anymore.
To get started and find rent to own home listings in Boca Raton, just click the link on this page and start browsing for your dream home today!