Browse Rent To Own Homes in Cape Coral, FL
Are you looking for a rent to own house in Cape Coral? 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 Cape Coral area.
Click the link below to access the listings!
Featured Rent To Buy Houses in Cape Coral, Florida
Browse the following featured properties in the Cape Coral, Florida area, or click the link on this page to get access to the complete listings for Cape Coral 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.
Cape Coral 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 Cape Coral, Florida
If you’ve ever wanted to live in a scenic small city, Cape Coral, Florida might be just the place for you.
Florida is famous the world over for its white sandy beaches, Caribbean atmosphere, and laid back lifestyle. Cape Coral is a prime destination within Florida, and is consistently ranked as one of the top places to live in the US.
Since it’s a smaller city, with a population of only 165,000 people in 2016, the pace of life is more easy going than in the larger areas of Jacksonville, Miami, Tampa, or Orlando. That means you’ll have more time and space to enjoy the location, with all the luxuries the sunshine state can bring.
Not only that, but Cape Coral homes are considerably less expensive than some of the other, comparable areas of the state, making it a great option for the budget-conscious home buyer.
If you are shopping for a new home on a budget, one of the best options for you to consider is to look for a rent to buy house. Rent to own homes are often misunderstood as houses designed for people with poor credit, but the reality is that they can be a great way to buy a house with little to no money required for a deposit.
This means that the opportunities are tremendous. If it’s something that interests you, then there’s a simple prices you need to follow to make sure that you find the right home at the right price.
The first step is to sign up for an online listing service that maintains an accurate and up to date set of rent to buy home listings that are currently on the market. Since these homes are usually sold without a realtor or real estate agency, you can’t just call up the local real estate office and expect them to have a complete list. That’s why finding a comprehensive listing service is so important.
The next step is to go and look at the homes, and decide what their true value is. Remember that like any real estate purchase, everything is negotiable, and many people create excellent investment opportunities by negotiating the right terms with the seller. If you have money to put down as a deposit, those terms might be reflected in the total sale price of the home, whereas if you have cash flow (eg: have a good salary) but no savings, you might be more interested in a no money down deal with a good interest rate, and be willing to pay a slight premium on the purchase price of the house.
Either way, the point is that there is no single “standard” deal. It’s all about what’s right for you and the seller of the house. Chances are, you’ll be able to find a great rent to own home in Cape Coral that will fit all of your criteria and those of the seller.
That’s what makes these properties such an attractive option. Sign up today to get started!