Browse Rent To Own Homes in Sunrise, FL
Are you looking for a rent to own house in Sunrise? 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 Sunrise area.
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Featured Rent To Buy Houses in Sunrise, Florida
Browse the following featured properties in the Sunrise, Florida area, or click the link on this page to get access to the complete listings for Sunrise 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.
Sunrise 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 Sunrise, Florida
Clocking in at just about 85,000 full time residents, Sunrise, Florida is one of the more low key areas of Broward County, known famously for being home to Fort Lauderdale.
Living in Sunrise, Fl has a number of great advantages to it, not the least of which is the proximity to the ocean, with beautiful beaches and more watersports than you could possibly have time for. It’s location is also perfect for heading into Fort Lauderdale or Miami to experience more nightlife, great concerts, world-class restaurants, and just about anything else you can imagine.
If you’re thinking about moving to Broward County, or anywhere in South Florida, then you should definitely think about putting Sunrise towards the top of your list of places to check out. You’ll be pleasantly surprised by what you find, and the options are probably more affordable than you would think.
One of the reasons that this city can be a great opportunity for real estate investors and individual homeowners alike is that is has a good housing marketing with a healthy number of rent to own houses available for sale.
These properties, whether they’re an apartment, condominium, or house with land, can be a great way to finance a home purchase and start living in your own home (or renting it out, if you’re an investor) without needing to wait until you can amass the capital necessary to purchase it outright or through a mortgage lender.
That’s because many rent to buy homes are available for great rates with seller financing, which means that the seller of the property will carry over all or part of the value of the home into debt for the buyer. Hence the term “rent to own” since you’re paying the previous owner a monthly fee, but unlike renting from a landlord, at least a portion of that fee (if not all of it) actually goes towards the purchase of the house.
Usually, this is done from anywhere from one to three years, at which time the remaining value of the house gets rolled into a mortgage from a private lender or institution.
Regardless of the way it pans out for you, there’s no denying that this is an option you should consider. To browse rent to own houses in Sunrise, Florida, sign up for an online listing service that maintains a current database of all of the homes available in the area.
Get started today and find your dream home!