Browse Rent To Own Homes in Birmingham, AL
Are you looking for a rent to own house in Birmingham? 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 Birmingham area.
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Featured Rent To Buy Houses in Birmingham, Alabama
Browse the following featured properties in the Birmingham, Alabama area, or click the link on this page to get access to the complete listings for Birmingham 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.
Birmingham 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 Birmingham, Alabama
Birmingham occupies Jones Valley, flanked by long parallel mountain ridges. The city (not including suburbs) covers more than 150 square miles.
Birmingham is the largest city in the state with a population currently estimated of 212,247 residents, it represents 22% of Alabama’s total population.
The city is home to more than 40, 680 Businesses Which represent one of the largest sources of employment, other large employers are The University of Alabama at Birmingham,
U.S. Government http://www.birminghamal.gov, Alabama Power Company, Compass Bank, City of Birmingham, Children’s Hospital, Regions Bank, AT&T Telecommunications, Inc, Birmingham Board of Education
American Cast Iron Pipe Co. Inc. entre otras.
Some of the neigborhoods in Birmingham son Airport Hills, Brownville, Cahaba, Crestiline, Crestwood, East Birmingham, East Lake. East Pinsosn, Ensley, Five Points, Grasselli, Huffman, North Birmingham, Northside Pratt City, Red Mountain, Roebuck, Smithfield, Southside, Southwest, Titusville, West End and Woodlawn
Birmingham also has an abundance of suburbs. Most of the metropolitan area lives outside of the city itself. Some of them are Hoover, Vestavia Hills, Alabaster, Bessemer, Homewood, Pelham, Trussville, Mountain Brook, Helena and Center Point to name a few.
In education, Birmingham’s elementary and high school students are predominantly served by two school systems: the Jefferson County School System and the Birmingham City School System.
Some of the elementary schools belonging to Birmingham City School System are: Avondale Elementary, Barrett Elementary, Charles A. Brown Elementary, Central Park Elementary, EPIC Elementary, Martha Gaskins Elementary, Glen Iris Elementary, Hemphill Elementary, Huffman Academy, Giddings S. Lewis Elementary, Minor Elementary, Henry Jefferson Oliver Elementary, Oxmoor Valley Elementary, Princeton Elementary, Robinson Elementary, Sun Valley Elementary, Tuggle Elementary and West End Academy.
The elementary schools of Jefferson County School are Oak Mt Elementary School, Mt Laurel Elementary School, Iverness Elementary School, Chalkville Elementary School, Hillview Elementary School, Avondale Elementary School, South Hampton Elementary School, Gate City Elementary School.
Birmingham, Alabama is Home of 14 institutions of higher education. There are seven high schools in the Birmingham City School District: George Washington Carver High School, Huffman High School, P.D Jackson- Olin High School, Parker High School, Ramsay High School, Wenonah High School and Woodlawn High School.
Birmingham is a culturally rich city with numerous art galleries and museums including The Birmingham Museum of Art, The Alabama Theatre, The Lyruc Theatre, The Aleys Stephens, The Birmingham-Jefferson Convention Complex, Birmingham Children’s Theatre, Boutwell Auditorium, Alabama Jazz Hall of Fame, Oak Mountain Amphitheater, Birmingham CrossPlex/Fair Park Arena, Southern Museum of Flight, Alabama Museum of Health Sciences, and the Arlington Home.
Is also home to the state’s major ballet, opera and symphony orchestra companies such the Alabama Ballet, Alabama Symphony Orchestra, Birmingham Ballet, Birmingham Concert Chorale, and Opera Birmingham.
In conclusion, Birmingham is an excellent place to live because it has all the facilities of a large city in which, in addition, there is a great variety of cultural activities that attract visitors from all over the country.
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