Browse Rent To Own Homes in Coconut Creek, FL
Are you looking for a rent to own house in Coconut Creek? 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 Coconut Creek area.
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Featured Rent To Buy Houses in Coconut Creek, Florida
Browse the following featured properties in the Coconut Creek, Florida area, or click the link on this page to get access to the complete listings for Coconut Creek 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.
Coconut Creek 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 Coconut Creek, Florida
If you want to live near the luxurious Boca Raton or Pompano Springs areas of Florida, just a bit North of Fort Lauderdale, but can’t afford to buy in to the often overpriced homes in those cities, then Coconut Creek may be a good option for you to consider.
Coconut Creek is a small city, especially when compared to the mega-metropolises to the South (Fort Lauderdale and Miami), but has everything you need to call it home. And, because it is so close to the thriving South Florida hubs, you can take advantage of the amenities those cities have to offer, without having to deal with them on a day to day basis.
Another plus is that homes here tend to hold their value well, even during down markets. That’s because you’re located just off the beach, which leads to less real estate speculation as you’re not groveling for a small stretch of very limited space.
It also means you’re more likely to find a larger home on more land for the same price as you would pay for a condo or apartment that’s right on the coast. While you’re not right on the sand, you’re still only a short distance from it, and you can easily head over any day of the week to brush up on your tan or head or for a swim, kayak, or boating excursion.
To start looking for your next home in Coconut Creek, you might consider browsing through some of the rent to buy home listings available online.
These databases often have houses listed that your local real estate agent won’t know about, because rent to own houses are often entered into a different database than traditional, bank-financed properties.
To learn more and check out the properties that are available near you, click the link on this page and enter your email to get started!