Browse Rent To Own Homes in West Palm Beach, FL
Are you looking for a rent to own house in West Palm 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 West Palm Beach area.
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Featured Rent To Buy Houses in West Palm Beach, Florida
Browse the following featured properties in the West Palm Beach, Florida area, or click the link on this page to get access to the complete listings for West Palm 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.
West Palm 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 West Palm Beach, Florida
West Palm Beach, FL is located in the heart of one of America’s most popular destinations, both in terms of tourism and desirability to live there. Located in the midst of beautiful South Florida beaches in Palm Beach county, West Palm Beach is a spectacular place to call home.
If you’ve ever thought about buying a home in Palm Beach, then now is the perfect time to do so. The real estate market in Palm Beach County has recovered nicely from the recession a few years ago, and while prices are no longer at the rock bottom levels they hit in 2009 and 2010, they are still a good value, and you can buy a property knowing that there is now a more stable market that will likely provide a great long term investment opportunity for your home.
Since a home is usually the biggest investment most people make, this is extremely important to consider when thinking about where to purchase a house, and I’m glad to see that West Palm Beach is back on it’s feet again.
If you are looking to buy a home in Palm Beach County, Florida, then there are a lot of options for you to consider, regardless of whether you’re looking at houses, apartments, or condos.
One of the most important decisions you will be making about your new home is how you’re going to pay for it. It’s increasingly common for many people to consider rent to own homes in West Palm Beach, as the attractiveness and availability of properties has skyrocketed in recent years, leading buyers to find great deals that come from negotiating with the current owner of the house, rather than looking for a bank-financed property using tools like mortgage loans or government agencies.
Another benefit of rent to buy houses is that in many cases you can avoid a lot of the other costs typically associated with purchasing a home, from bank fees to realtor commissions, and a host of other common closing costs. Working on a one on one basis gives you the opportunity to avoid these fees, and those savings, while typically paid by the seller of the house, are going to be passed on to the buyer in one form or another.
For that reason, lease option houses represent a great investment opportunity for many people looking to buy a home, whether it’s a first home purchase or an investment property.
If this sounds like a choice that could be right for you and your family, then I encourage you to sign up for a comprehensive listing service to find all of the rent to own home listings in West Palm Beach, Florida.
Get started today and you could be in your dream home sooner than you think!