Browse Rent To Own Homes in Pompano Beach, FL
Are you looking for a rent to own house in Pompano 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 Pompano Beach area.
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Featured Rent To Buy Houses in Pompano Beach, Florida
Browse the following featured properties in the Pompano Beach, Florida area, or click the link on this page to get access to the complete listings for Pompano 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.
Pompano 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 Pompano Beach, Florida
If you’ve ever thought about moving to the South Florida area and living it up in the year-round sunny weather, then Pompano Beach, FL may just be the perfect home for you.
This small city of only 100,000 people lies just North of Fort Lauderdale, meaning you have easy access to all of the benefits of a big city without the crowds. Just minutes from the famous luxury canals of the Fort Lauderdale area and only an hour from downtown Miami, you can have the best of both worlds, while enjoying a stretch of beach front that has a fraction of the number of tourists as the neighboring cities to the south.
When you’re looking at homes in the Pompano Beach area, there are a lot of elements you want to consider before making the purchase. The first is the style of home you want to live in, which could range from anything from a large house to an apartment or condo in a multi-unit building.
Do you envision your dream home having ample outdoor space, a big yard with a garden, or a luxury fitness center and pool included as part of a building community? Either way, you can find it in Pompano Beach.
Another aspect you need to consider is how you’re going to finance the purchase of your new home. Many people choose to go the traditional mortgage route through a lending institution, but it is also increasingly common to opt for a rent to own real estate deal, where you negotiate directly with the seller to purchase the property, often without a bank.
This option presents a great opportunity for many individuals and families who, for whatever reason, don’t want to pay a large downpayment on their home, but still want to move in immediately. It also has the added benefit of allowing you to avoid many of the closing costs typically associated with the sale of a home, since you’re dealing directly with the seller, and not a seemingly endless stream of third party companies all looking for a piece of the action.
If buying a lease option house sounds like something you might be interested in, then the best way to proceed is to look for a comprehensive set of rent to buy home listings in Pomano Beach. You can find these directory services online, via the link on this page.
Sign up today to get started looking for your perfect home in Pompano Beach, and you could be moved in, on the sand and soaking up the sun in no time at all!
Click the link above to get access to the listings.