Browse Rent To Own Homes in Salt Lake City, UT
Are you looking for a rent to own house in Salt Lake City? 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 Salt Lake City area.
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Featured Rent To Buy Houses in Salt Lake City, Utah
Browse the following featured properties in the Salt Lake City, Utah area, or click the link on this page to get access to the complete listings for Salt Lake City 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.
Salt Lake City 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 Salt Lake City, Utah
That is why, for years, Salt Lake has been considered as a holy city by members of the LDS Church.
Nestled along Utah’s Wasatch Mountains, Salt Lake City has one of the country’s best backyards. Five national parks and several world-class ski resorts are within driving distance.
Salt Lake City has a total area of 110.4 square miles (286 km2) and an average elevation of 4,327 feet (1,319 m) above sea level; and an estimated population of 189,314 in 2012,3 the city is in the core of the Salt Lake City metropolitan area.
Also, is an important financial and commercial center of the American West. The manufacturing and high technology industries are also important sources of state income, as well as agriculture and livestock.
About the lifestyle, the people there live in a place that offers the vitality, accommodations and attractions of a big city without the hassles. Some of the most important Neighborhoods are Sugar House with a community than is stoked with local shops and national retailers, a park and an easy access to mayor highways. 9th & 9th: The 9th & 9th neighborhood attracts an urban alternative crowd, and is considered culturally diverse. The Avenues in the north end of Salt Lake City, it has more diversity in the style of home, with bungalows, Victorians, ramblers, etc. Finally, Marmalade District that it’s becoming an artsy community.
Attractions in Salt Lake City include several museums, including the LDS Church History Museum, the Natural History Museum, the Utah Museum of Fine Arts, the Clark Planetarium, and the Discovery Gateway Children’s Museum. Another area to visit is the area known as City Creek Center located in front of the Convention Center which is considered the center of the arts of the city and has several theaters and galleries.
The climate of Salt Lake City is commonly claimed to be semi-arid. Has hot summers and cold, snowy winters.
Thanks to its beautiful setting, between the Wasatch Mountains and Great Salt Lake, Salt Lake City is also one of the top destinations for travelers interested in outdoor sports. In winter, skiing is king sport, but during the rest of the year visitors can go hiking, cycling and climbing.
About the Infrastructure the City of Salt Lake City is proud to have a large international airport, where only in 2012, it was welcomed by 20 million passengers from around the world due to Winter Olympic Games of 2012.