Browse Rent To Own Homes in Pembroke Pines, FL
Are you looking for a rent to own house in Pembroke Pines? 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 Pembroke Pines area.
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Featured Rent To Buy Houses in Pembroke Pines, Florida
Browse the following featured properties in the Pembroke Pines, Florida area, or click the link on this page to get access to the complete listings for Pembroke Pines 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.
Pembroke Pines 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 Pembroke Pines, Florida
Pembroke Pines, Florida is an incredible “hidden in plain sight” region located in the Miami-Fort-Lauderdale corridor. Since it’s set just a little bit inland, the home prices here are often lower than the rest of the Miami area, and there are a ton of great deals that you can find.
Even though it is set inland by a few miles, Pembroke Pines, FL is just a short drive from the luxurious sandy beaches of both Miami and Fort Lauderdale. It’s also conveniently located near the Everglades, giving you plenty of options for escaping the city life to commune with nature.
Since it is outside of both cities, Pembroke Pines has a peaceful atmosphere to it, and life happens at a slower pace than in downtown Miami. This is perfect for anyone who is looking for the convenience of living in a major metropolitan area, without any of the hassles or higher crime rates that go along with living in a big city.
Similarly, living in Pembroke Pines is like living at the beach, but without the added maintenance and upkeep costs that having a beachfront home would entail. The area is also more protected than the coastline from storms and hurricanes, making it the best of worlds.
If you’re considering buying a house in Pembroke Pines, FL, one approach you might consider is to look for a rent to own property in the area. These properties are usually great investments, since you don’t have to have a lot of money to put down as a downpayment on the house. In some cases, you don’t even need to put any money down, meaning that you can move in on a dime, and gradually build up your ownership level in the home over time.
Most often, what happens is that you would negotiate the lease option terms with the current owner of the home, and then at the end of the predetermined length of time, which is often anywhere from 1-3 years, you would roll over the unpaid costs of the home into a bank-financed mortgage.
If you don’t currently have money saved up for a deposit on your new home, that means that your monthly rent payments will effectively serve as the deposit on the mortgage, and you have the added benefit of locking in the price of the home for the timeframe you establish with the seller.
It’s all of the advantages of buying a home today, without actually needing to have the cash to do it! This is what makes the rent to buy real estate market so attractive for so many people, since it allows you to go ahead and get settled into your new home and start living the life of your dreams earlier than you would otherwise be able to do so.
If you’re interested in finding rent to buy house listings in your area, you can sign up for a service online to give you the most current property listings.
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