Browse Rent To Own Homes in Parkersburg, WV
Are you looking for a rent to own house in Parkersburg? 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 Parkersburg area.
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Featured Rent To Buy Houses in Parkersburg, West Virginia
Browse the following featured properties in the Parkersburg, West Virginia area, or click here to get access to the complete listings for Parkersburg rent to own houses.
- Nearest School: Fairplains Elementary School
- Nearest Grocery: One Stop
- Nearest Restaurant: Terry’s Dairy King
- Nearest School: Van Devender Junior High School
- Nearest Grocery: Tracey Market
- Nearest Restaurant: Pinky’s Hot Dog
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.
Parkersburg Lease Purchase Homes and Houses: 26101, 26102, 26103
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!
Click here to get access to one of the most comprehensive rent to own listing services in the country.
Listings for Rent To Buy Properties in Parkersburg, West Virginia 26104, 26105, 26106
To get an idea of where the best Parkersburg West Virginia rent to own homes are, read the tips here. When you want a new place to live, you have to understand what can meet your needs in the way of price and the amount of space you get.
The homes are going to have to be inspected by you and a team of professionals if you want to know what is going on behind the scenes. Find a plumber and someone well versed in heating and air systems. If you are getting appliances with the home, then make sure you test those as well. Whenever you find any issues, ask the seller to lower the overall price. Just find out what it will cost to fix the issues and then you can ask for that much off of the final price.
When you’re renting to own, make sure you read over any leases or other paperwork you’re signing. See if there are any fees associated with being late on the rent. Learn about what you are supposed to do if something breaks in the home. When you rent from a landlord, they typically will want you to have them send people out that can do the work for you without too much of a problem. If you can’t get help with fixes that make your home livable, then you may be able to get the help yourself and charge the landlord for it.
Keep your rent to own home in good shape when you find one to move into. Even though it is not fully yours when you first get into it, you want to have it withstand the test of time. When you have carpeting, be aware of how often you clean it so that it doesn’t have to be replaced. There are many options to choose from in the way of what you clean with. For those that are not good at cleaning, it’s probably a more worthwhile investment when you work with a professional cleaning service to keep you home looking great while running well.
This information on Parkersburg West Virginia rent to own homes should help you to get into one that you like. Don’t settle for the first place you find. If you do adequate research, you will find that there are a lot of options that will suit you.