Browse Rent To Own Homes in Miami Beach, FL
Are you looking for a rent to own house in Miami 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 Miami Beach area.
Click the link below to access the listings!
Featured Rent To Buy Houses in Miami Beach, Florida
Browse the following featured properties in the Miami Beach, Florida area, or click the link on this page to get access to the complete listings for Miami 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.
Miami 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 Miami Beach, Florida
Looking to move to one of the hottest beach in the country, but not sure where to start? Miami Beach, Florida is known the world over for it’s picturesque, white sandy beaches, bikini-clad babes, and exciting night life.
Many people think of it as a great vacation destination, but it’s also an exciting and fun place to live if your like the beach-bound lifestyle and are ready to spend most of the year out enjoying the warm weather and sunshine!
Though many people think Miami Beach is a large, sprawling area, it actually only has about 90,000 full time residents, making it one of the smaller cities within Miami-Dade county. Conveniently located only a few minutes from downtown Miami, and boasting incredible views throughout the area, this is a great spot to flock to if you’re looking for an area that has a strong housing market, plenty of job opportunities, and more than its share of leisure activities for you to enjoy as well.
The only downside to Miami Beach is its popularity, which translates into high real estate prices for many areas of the city. To offset that, many people consider alternative financing for their properties, and many look into rent to own real estate options when thinking about a purchase.
Rent to buy homes allow the homebuyer to find a good property without needing to worry about coming up with a large down payment. That makes it a great option for a large number of people, whether you’re buying your first home or have poor credit.
For more qualified buyers, it also means that you might be able to afford a more luxurious house, condo, or apartment than you would with a bank-held mortgage. In an area that’s known for tight spaces, that translate into a major difference in living space or quality of the building or home that you choose.
To get started looking for lease option houses in the Miami Beach area, your best bet is to sign up with an online service that maintains accurate and current records of all of the rent to own house listings in Miami Beach.
You can get started today by clicking the link on this page. That way you’ll be able to find all of the listings you need, and will get into your dream home in no time flat!
Start today and find your perfect rent to own house before you know it!