Browse Rent To Own Homes in Jacksonville, FL
Are you looking for a rent to own house in Jacksonville? 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 Jacksonville area.
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Featured Rent To Buy Houses in Jacksonville, Florida
Browse the following featured properties in the Jacksonville, Florida area, or click the link on this page to get access to the complete listings for Jacksonville 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.
Jacksonville 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 Jacksonville, Florida
If you’re looking to buy a new home in Florida then one of the most popular places you can consider is Jacksonville.
Jacksonville is florida’s largest city when you don’t consider the entire metro area but simply the population within the city limits itself, and is a great place to live. With warm sunny weather, like all of Florida, it’s a home that can be enjoyed year round.
If you re considering purchasing a property in Jacksonville you might consider looking for a home or condo that has a pool. Since Florida has such a hot climate, this will be a huge advantage when considering the home value, and helps to keep a high re-sale value for the house as well.
In terms of financing the property, there are a number of different options you could consider. While most people opt for a traditional mortgage from a bank or other credit institution, and increasing percentage of the popular is looking to seller-financing to help them afford the new house.
Seller-financing can take several different forms, but by far the most popular is what’s known as rent to own contracts. These deals allow the buyer to move into a new house with little or no money down, and use their monthly rent payment to accumulate equity in the property.
This is perfect for individuals who are either strapped for cash or who have poor credit and can’t qualify for a mortgage from a bank. It allows you to own a home sooner than you otherwise would be able to do so, and it’s win-win for the seller as well, because he is able to sell the property at a fair price.
In order to find rent to buy houses that are in the Jacksonville, FL area, all you need to do is sign up for an online listing service. These services provide accurate, up to date information about all types of non-traditional houses that are for sale.
Since many times rent to own homes aren’t listed with a realtor, but are for sale by owner, your local agent may not know as much about the properties available as you might otherwise think. That’s one thing that sets the rent to own market, which is also known as the lease option market, apart from the other types of homes for sale in Jacksonville.
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