Browse Rent To Own Homes in West Jordan, UT
Are you looking for a rent to own house in West Jordan? 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 Jordan area.
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Featured Rent To Buy Houses in West Jordan, Utah
Browse the following featured properties in the West Jordan, Utah area, or click the link on this page to get access to the complete listings for West Jordan 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 Jordan 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 Jordan, Utah
West Jordan is a suburb of Salt Lake City with a mixed economy. Is located in the southwest end of the Salt Lake Valley. The city begin on the river´s western bank and end in the eastern foothills of the Uquirrh Mountains.
The city lies approximately 18 miles. Is a larger medium-sized city located in the state of Utah. With a population of 111,946 people and 20 constituent neighborhoods
It is a place where a great variety of racial and ethnic groups. In terms of housing, the total housing units are 33,305 with a vacancy rate of 3.6%
West Jordan is a city that provides pretty much everything a resident might want or need, from both a services and comfort point of view. Meanwhile, according to national crime statistics, West Jordan is the 89th safest city in America. Residents enjoy dozens of parks, trails, and ball diamonds, the state’s largest soccer complex, and Salt Lake County’s Mountain View Golf Course.
The city is close proximity to 14 world class ski resorts, 43 state parks, six national monuments, four national historic trails, and five national parks. West Jordan itself has 43 parks. Another Site of interest is The Kennecott Copper Mine is actually now named the Bingham Canyon Mine. The mine lies just within the city limits of West Jordan and is nestled in the foothills of the majestic Oquirrh Mountains. Has the claim to fame of being the largest man made excavation on earth.
It is a place in which also develops the sport, the area is home to professional basketball, baseball, hockey, and soccer franchises.
More than 3,000 businesses are licensed in the City of West Jordan, from small home-based operations to international companies.
West Jordan has two high schools, four middle schools, 16 elementary schools, a special needs school, and several charter schools.