Browse Rent To Own Homes in Hialeah, FL
Are you looking for a rent to own house in Hialeah? 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 Hialeah area.
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Featured Rent To Buy Houses in Hialeah, Florida
Browse the following featured properties in the Hialeah, Florida area, or click the link on this page to get access to the complete listings for Hialeah 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.
Hialeah 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 Hialeah, Florida
Are you thinking about a move to South Florida? If so, you’ve probably looked into Hialeah, which is located in Miami-Dade county and part of the greater Miami area.
Hialeah, Florida is a great place to call home. Located in one of the largest metro-regions of the country and one of the top resort destinations in the world, you’ll have access to anything you could need, whether you want to go fishing or sailing, hit up the Miami nightlife, relax on the beach or go to a major sporting event. It has all of the major benefits of Miami, while maintaining a good distance from the center of the city, allowing you space and peace of mind to go about your day to day life.
Among all of these factors, it’s great to consider that the entire area, Hialeah included, has a lot of great opportunities for purchasing real estate. Whether you’re looking to buy a home as an investor or an individual homeowner, there are plenty of options to be found.
The Miami region was hit hard during the recession in 2008-2009, but has now bounced back to more realistic prices. That means that you can now buy a home at a reasonable cost, and rest assured that it will remain a stable investment in the years to come.
Hialeah also has several advantages in that it is a little further inland, meaning your home will be more protected from storms and rising sea levels. In other words, you’ll have all of the benefits of living by the water, without any of the hassles!
If you are thinking about purchasing a house in Hialeah, then one thing I urge you to consider is the rent to buy home market. Often called lease option properties, rent to own houses allow you to purchase a home with at portion of the home financed by the current owners.
Most commonly, this form of seller-financing allows you to move into the house with little to no deposit, and earn your way into owning the house over time. Instead of getting a mortgage from a bank right off the bat, the current owner will carry the mortgage until you’ve earned a specified percentage of the home.
Then you’ll be able to qualify for a bank loan and purchase the house, rolling the rest of the property into a standard mortgage agreement.
This is a great option for anyone who is looking to purchase a house with little money down, or less than perfect credit scores.
If you’d like to find a rent to own home in Hialeah, Florida, then your best bet is going to be to search the online listings. You can easily get access to the current properties available, and be prepared to purchase the right home when you see it!
Sign up today to get started and find your dream home!