Browse Rent To Own Homes in St. Petersburg, FL
Are you looking for a rent to own house in St. Petersburg? 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 St. Petersburg area.
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Featured Rent To Buy Houses in St. Petersburg, Florida
Browse the following featured properties in the St. Petersburg, Florida area, or click the link on this page to get access to the complete listings for St. Petersburg 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.
St. Petersburg 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 St. Petersburg, Florida
Located just across the bay from Tampa, St Petersburg is an incredibly popular destination both for people looking to vacation in Florida as well as for individuals, couples, and families looking for a great place to live.
St Petersburg, FL is situated on the Wester edge of Tampa Bay, and faces out towards the Gulf of Mexico. This plentitude of water means that many homes in the region have incredible views, and easy access to the beach, with all of the benefits that go along with it.
But even if you aren’t a waterspouts junkie, St Petersburg and the Tampa area can be a great place to live. Home to several major sports franchises, and a robust and thriving business scene, it’s a great spot for someone of any age to call home.
If you’re going to be looking to buy a house in St Petersburg, one of the best recommendations I can give you is to make sure you consider looking at the rent to own houses available in the area. Many homebuyers neglect to consider this type of home purchase, mainly because there isn’t as much information about it out there, and there are a few negative stereotypes.
For example, many new homebuyers think that lease option or rent to buy real estate is only for people who have bad credit, or can’t otherwise afford a home. The reality is that it’s a great investment opportunity for people of any age or financial background, regardless of income or even what neighborhood or type of house you’re looking to settle into.
Done correctly, rent to own real estate deals can provide a win-win for both the buyer and the seller of the property. In many cases, the seller is eager to get rid of the property (which could be due to a number of reasons, ranging from changing his investment portfolio to needing to move to a different city for work), and will allow the new buyer to “earn-in” to the property over time.
This approach keeps a person living in the house and builds up to the actual sale, so the homeowner doesn’t have the expense of owning a property with no one occupying it. Looked at in this light, you can understand why a buyer can have a great investment opportunity, and a strong hand to negotiate good terms of the deal.
Finally, rent to buy properties are great because you can often avoid hefty commissions paid out to real estate agents, mortgage brokers, and other interested third parties. That’s because many deals are done without the use of your typical real estate agency, saving everyone both time and money when getting the deal closed.
If you’re thinking about buying a home in St Petersburg, consider rent to own options that are available. For current listings and access to the most up to date information, all you need to do is sign up with an online provider to get access!