Browse Rent To Own Homes in Tallahassee, FL
Are you looking for a rent to own house in Tallahassee? 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 Tallahassee area.
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Featured Rent To Buy Houses in Tallahassee, Florida
Browse the following featured properties in the Tallahassee, Florida area, or click the link on this page to get access to the complete listings for Tallahassee 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.
Tallahassee 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 Tallahassee, Florida
Tallahassee, Florida is one of the great hidden gems of the sunshine state. Though it often gets less attention than Miami, Orlando, or Tampa, the reality is that Tallahassee has all of the same appeals as those cities, at a fraction of the cost.
Tallahassee is the capitol of the state, which, from an investment perspective, means that your home is likely to always retain its value, and gradually increase in value over time. State capitols are great cities to live in, because they tend to be large but not too large, and have a stable a broad array of jobs, with a number of businesses being attracted to the seat of government, in addition to the range of state government positions available.
From a real estate perspective, all of that translates into houses that can be great investments in the future, in a city that is often listed among the best places to live in the US. With warm weather year round and easy access to the Gulf of Mexico, it’s high on many people’s lists of places where it would be nice to live.
When you’re thinking about buying a home in Tallahassee, one of the best advantages you’ll find is that real estate is significantly more affordable than other nearby cities. Not only that, but it is more stable as well. While most of central and South Florida were struck hard by the real estate crash a few years ago, Tallahassee remained relatively stable, and house prices dropped far less than the national average, and then quickly recovered.
Since the houses are affordable, it means you’ll likely be able to live in a nicer home, with more property, than you would otherwise be able to afford elsewhere. One great way of stretching up into that dream is also to find sellers who are willing to help you finance a part of the purchase, and use seller financing in conjunction with a traditional mortgage lender like a bank or other financial institution.
This type of purchase is often known as rent to own real estate, and there are lots of great properties available in Tallahassee using this model. You’ll be able to move into your new home and start living in it with very little, or, in some cases, no money down as a deposit. This allows you to purchase the home over time, while enjoying all of the benefits of Florida’s state capitol and allowing you to control the investment, leveraging your finances into a great financial return.
In order to purchase a home using a lease option, the most important aspect is the ability to find houses and sellers who are offering their properties in this fashion. The best way is to sign up for an up to date listing service online, which keeps accurate records of houses that are currently on the market where sellers are open to rent to own situations.
Sign up today and you could be in your dream home sooner than you think!