Browse Rent To Own Homes in Fort Lauderdale, FL
Are you looking for a rent to own house in Fort Lauderdale? 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 Fort Lauderdale area.
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Featured Rent To Buy Houses in Fort Lauderdale, Florida
Browse the following featured properties in the Fort Lauderdale, Florida area, or click the link on this page to get access to the complete listings for Fort Lauderdale 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.
Fort Lauderdale 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 Fort Lauderdale, Florida
Are you in the process of looking for a new home in Ft Lauderdale, FL?
Located in the heart of sunny South Florida, just a stone’s throw from Miami, there are tons of reasons to move to Fort Lauderdale. It has all the pleasures of leading beachside in the sun in an older, calmer setting than its rambunctious neighbor to the South.
Fort Lauderdale is known world-wide for it’s peaceful beaches and luxurious canal waterfront homes, owned by CEOs and millionaires from around the country and the world. Perhaps more impressive are the multi-million dollar yachts that you can see docked around the harbor, indicating that this city truly is a playground for the rich and famous.
If you’re thinking about buying a house in Ft Lauderdale, Florida, don’t be turned off by the seemingly endless array of luxury homes, as there are actually options available for a wide range of budgets. Whether you’re looking for a house, apartment, or condo, you’ll be able to find just the home you need, and live the ocean front life of your dreams!
Not only that, but the Fort Lauderdale area home prices aren’t nearly as bad as you might think. While they are more expensive than other areas of Florida like Tampa or St Petersburg, Fort Lauderdale houses are often less expensive than their Miami counterparts, even though it’s just a few miles up the coast.
If the house prices are a bit of a stretch for your budget, than finding a good rent to own home could actually be a great deal. These houses are made available by owners who are willing to finance part or all of the cost of buying the home, allowing homebuyers to move in and pay rent instead of a mortgage, with a portion of that rent going towards the equity in the home.
Whether or not this type of situation makes sense for you is going to depend on the specifics of the deal, but in many cases, sellers are willing to finance a property on excellent terms, in exchange for a quick sale of the house.
Picture this: you own a home and suddenly have to move to a new city for work. You can’t afford to put your house on the market and wait 6-12 months for it to sell, so you’re willing to finance part of a rent to own situation. When someone buys your house, the bank will finance most of the cost, paying off the rest of your mortgage, and you can recoup the additional money on a monthly basis, for a predetermined period of time. Meanwhile, you have the ability to buy a new home in your new city. That sure beats having an extra monthly expense with an empty house that you can’t sell!
This simple example illustrates how rent to own real estate can be a great deal for both the buyer and the seller of the property. For more information, you should sign up for an online listing.
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