Browse Rent To Own Homes in Riverton, UT
Are you looking for a rent to own house in Riverton? 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 Riverton area.
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Featured Rent To Buy Houses in Riverton, Utah
Browse the following featured properties in the Riverton, Utah area, or click the link on this page to get access to the complete listings for Riverton 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.
Riverton 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 Riverton, Utah
Riverton is a city located in the rapidly growing southwest valley of Wasatch Front region.
Is part of Salt Lake City, that is, it is located in Salt Lake County, Utah Metropolitan Statistical Area. Riverton shares city borders with South Jordan, Draper, Bluffdale and Herriman. Likewise,The city has a total area of 12.6 square miles.
The total population living in Riverton is 41,457 people, is a city whose population is 100% urban.Businesses, housing, and roads have replaced many of the farms and cattle ranges.Estimated median household income is about $83,995.
On the other hand, The racial makeup of the city was 96.45% White, 0.22% African American, 0.24% Native American, 0.65% Asian, 0.24% Pacific Islander, 1.02% from other races. Hispanic or Latino of any race were 3.17%
In education, it is worth mentioning that being in Salt Lake County, Riverton has the advantages of owning its own educational institutes that are also part of the Jordan School District and also being relatively close to the largest schools in the metropolitan area.
Public schools in Riverton consist of six public elementary schools, las cuáles son Riverton, Rosamond, Rose Creek, Southland, Foothills, Blackridge, and Midas Creek.
Riverton has two middle schools Oquirrh Hills and South Hills, and one high school Riverton High School, which is one of the most populated school in Utah.
Some of the area’s most representative neighborhoods, to name a few, are Autumn Glow Cove y Autumn Hills, Bradbury, Grand View, Old Fort, Rosecrest, Summerhill, Tithing Hill and Western Springs.
The residents of this city, are satisfied to live in a city that gives them quality of life to be committed to values, security and progress.
Riverton has a considerable number of parks that allow families to enjoy outdoor recreation, some of these parks are Riverton City Park, Western Springs Park, Cetennial Park and C.R Hamilton Family Sports.
Other cities in Utah:
- Salt Lake City http://homeownersguides.org/rent-to-own/utah/salt-lake-city/
- West Valley City http://homeownersguides.org/rent-to-own/utah/west-valley-city/