Browse Rent To Own Homes in Beavercreek, OH
Are you looking for a rent to own house in Beavercreek? 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 Beavercreek area.
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Featured Rent To Buy Houses in Beavercreek, Ohio
Browse the following featured properties in the Beavercreek, Ohio area, or click the link on this page to get access to the complete listings for Beavercreek 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.
Beavercreek 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 Beavercreek, Ohio
Are you thinking about purchasing a new home in Beavercreek, Ohio?
If so, then you might want to consider looking for a rent to own home. Rent to buy real estate, which is also known as lease option or lease purchase real estate, is a type of real estate transaction in which a homebuyer may purchase a property with little to no money down.
Under this scenario, the homebuyer usually agrees to rent the property from the owner for a pre-defined period of time, during which time the purchasers pays a fixed monthly rent. Part of that monthly rent goes towards building up equity in the home, which can then be used as a downpayment to finance the purchase of the rest of the property.
This is a great option, especially for young first time homebuyers or real estate investors who don’t have a lot of extra cash to put down as an upfront payment on the property.
Since the home is financed in part by the previous owner, homebuyers can find deals that offer financing terms that aren’t usually available from private bank lenders.
If you’re interested in buying a house in Beavercreek, OH, then you’ll be situated in an excellent property market that is conveniently located among three of Ohio’s most popular cities. A suburb of Dayton, Beavercreek is also very close to both Cincinnati and Columbus, meaning that there will always be high demand for property in the area, as these three larger urban areas continue to expand, providing a wealth of high paying jobs across a diverse array of industries.
If that’s something that sounds appealing, then your best bet is to sign up for a comprehensive rent to own home database, as many lease option houses are not listed with traditional real estate agents or brokers. Click the link on this page to sign up and view available homes in Beavercreek.