Browse Rent To Own Homes in Lauderhill, FL
Are you looking for a rent to own house in Lauderhill? 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 Lauderhill area.
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Featured Rent To Buy Houses in Lauderhill, Florida
Browse the following featured properties in the Lauderhill, Florida area, or click the link on this page to get access to the complete listings for Lauderhill 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.
Lauderhill 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 Lauderhill, Florida
Broward County, Florida is often known as one of the most desirable places to own real estate in all of Florida, and perhaps even the entire country, thanks to stunningly beautiful beaches, low crime rates, and close proximity to many great amenities provided by Fort Lauderdale and, just a little farther to the South: Miami.
Lauderhill, FL is no exception. This community makes up a good portion of the prime Broward County real estate market, even though the actual population of Lauderhill is smaller than most of its neighbors, clocking in at just under 70,000 residents, many of whom are part time or seasonal residents that spend the winters in Florida and their summers in the Northeast.
This makes this wonderful seaside community a perfect fit for anyone who’s looking to balance out city life with a smaller city and more easy going pace of life. Whether you’re 7 or 70, it can be a great fit.
Affording real estate in Lauderhill can be a challenge for some, as the property values are priced according to the fact that it is part of Florida’s premier real estate sector, but there are many options for people looking to buy across a fairly wide spectrum of price points and budget constraints.
Probably the best way to take advantage of the market is to look for one of the widely available rent to buy properties in the area. Rent to buy homes allow you as a homebuyer to purchase real estate without needing to go through a bank, and can help you start living in your new home before you actually own it!
How does that work? Simple. Lease option houses are a form of seller financing that allow you to rent out the house just as you would as if you were a tenant. The difference is that every month a percentage of your rental payment actually goes towards the principal of the house, meaning that over time you buy in to the house you were only just renting!
This has a number of tremendous advantages, not the least of which is the ability for you to afford a home in an area that previously might have seemed a little too expensive.
Since there are a lot of houses available for sale in Broward County using this model, it makes sense to be on the lookout for one!
Sign up with an online rent to own home listing service for Lauderhill in order to get access to all of the properties available today!