Browse Rent To Own Homes in Cutler Bay, FL
Are you looking for a rent to own house in Cutler Bay? 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 Cutler Bay area.
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Featured Rent To Buy Houses in Cutler Bay, Florida
Browse the following featured properties in the Cutler Bay, Florida area, or click the link on this page to get access to the complete listings for Cutler Bay 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.
Cutler Bay 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 Cutler Bay, Florida
Cutler Bay is an incorporated town in Miami-Dade County, Florida established in 2005 with a total area of 4.9 square miles.
The population in Cutler Bay is only 44, 321 people, which makes it a small city that has the facilities to be relatively close to the big cities, but also has the charm of the small towns in which the Community is more united.
The main occupations of its inhabitants are related with sales, office, administrative support, construction, maintenance, architecture and engineering.
There are two universities in Cutler Bay, which are www.cbt.edu and Fortis College-Cutler Bay www.fortis.edu.
The only public high schools in Cutler Bay is the Cutler Bay Academy Of Advanced Studies.
The elementary schools in the area are Dr. Edward L. Whigham Elementary School, Cutler Ridge Elementary School, Bel-Aire Elementary School And Gulfstream Elementary School .
The Town of Cutler Bay has nine parks where families can relax and have a truly enjoyable time, children can play for hours and couples can enjoy a nice hike. They are spaces designed for the recreation of each member of the community.
Zip Code: 33178
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