Browse Rent To Own Homes in Delray Beach, FL
Are you looking for a rent to own house in Delray Beach? 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 Delray Beach area.
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Featured Rent To Buy Houses in Delray Beach, Florida
Browse the following featured properties in the Delray Beach, Florida area, or click the link on this page to get access to the complete listings for Delray Beach 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.
Delray Beach 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 Delray Beach, Florida
There’s no doubt that Delray Beach is one of Florida’s famous ocean front destinations. The very features that make it popular among tourists and family vacationers also make it a great spot to live, and the constant demand means that there are constantly good investment opportunities to be found.
If you’re looking to buy a house in Delray Beach, then one of the things you might consider is finding a rent to own property. One of the good things about this area is that because of the constant tourist demand, you can actually use creative financing methods to get you moved into a house that you then sublease and turn into an instant cash flow opportunity!
While not “easy” to do, the options certainly do exist, as long as you crunch the numbers and make sure the deal makes good financial sense for everyone involved in the transaction.
At the very least, you can use this form of financing to help you get moved into a new house, and then could lease out a portion of the house, apartment, or condominium to earn a little extra money on the side, turning you from being in the cycle of paying rents to a landlord, to receiving rents and putting that extra cash right into your pocket!
Since Delray Beach is something of a destination year round, you’ll find that you could use your investment to rent out your place for most the year, which will make it easier to profit from the arrangement.
To get started browsing the rent to own home listings in Delray Beach, sign up via the link on this page. You’ll be taken to one of the best and most comprehensive databases available online to find all of the properties int he area that fit your individual budget, location, and home criteria.
Get started today and you could be in your new dream home before you know it!