Browse Rent To Own Homes in Greenville, SC
Are you looking for a rent to own house in Greenville? 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 Greenville area.
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Featured Rent To Buy Houses in Greenville, South Carolina
Browse the following featured properties in the Greenville, South Carolina area, or click the link on this page to get access to the complete listings for Greenville 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.
Greenville 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 Greenville, South Carolina
Are you interested in becoming a homeowner? Luckily, there are a few different ways for you and your family to purchase the home that is a good fit for you and own the space you live in. A very popular way to make this happen is by shopping for rent to own homes in Greenville SC. If this option is something you would like to consider, read on to learn what you should look for as you shop for rent to own homes in Greenville SC.
As you consider renting a home to own, the first thing you should consider is your budget. Before you start the shopping process, you need to know how much you can afford. There are a few different ways to do this. You can consider the amount you currently pay, if you rent or own a home currently. How is this amount working for you? Do you have wiggle room in your finances? You can also use an online calculator to give you a good idea. This should be used as a guide only. If you are still wondering, put
One important thing for you to think about is the features you would like in a home you are considering renting to own. How many rooms are necessary? Does this differ from the amount of rooms that you desire? For instance, do you need three bedrooms, but would really like four? Also, how many bathrooms would you like? What about the square footage of the home you would like to rent to own, how many square feet would you like? There are other features for you to consider as you find the best home for your needs. Things such as living space, floor plan, the neighborhood, and other important factors should not be ignored.
Also, you should think about the location of the rent to own home you would like to purchase. Do you care where you live? Or do you want to make sure you are close to your job or your children’s schools? It is important to decide if the location of the home you are considering is meaningful or not.
As you can see, purchasing a rent to own home in Greenville SC is a good choice for you. Use the helpful tips that have been shared here as you shop to help you find the best choice.