Rent to own can be used when a buyer cannot get traditional financing or a seller can not get what he feels he should get. Like anything else in Real Estate it becomes what a buyer is willing to pay and a seller is willing to take.
Here is an example that I recently did, Buyer has a credit score of 522 and lender wants 10% down and 8% interest. The buyer shopped around and this was the best deal he could get without doing some work and getting his score up. Payment would have been close to $820 a month. I negotiated with the seller to tote the note for 2 years while the buyer fixed a few things on his credit. The seller had a 4.5% loan and payment of $550. Seller will accept the deal with $5000 down $750 a month to close in two years with the $5000 to go toward paying all closing cost and all monies above the sellers note to go toward purchase price. Seller gets his price albeit in 2 years, I think it was a little over market but the buyer gets a payment he can live with plus instead of a new loan he will be refinancing.
Charles Stallions, CRS, CSP, CBR, CDPS, SREE, EREI - 800-309-3414, a leader in real estate investing, buying and selling. Lead Real Estate negotiator for several investment clubs as well as investors throughout the US. Call Charles for a list of references before buying or selling you what some consider being their largest investment.
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Looking for a home to rent, sell or buy in Pensacola, Pace or Gulf Breeze Florida then this site was designed with you in mind. E-mail charles@charlesstallions.com for a complete list of foreclosures, short sales, homes for sale or for rent in Pensacola, Pace or Gulf Breeze Florida area. Charles Stallions Real Estate Services located at 139 East Burgess Rd. Pensacola, Florida 32503 has a 12 member team, including experts on Loan Modifications, a Certified Residential Specialist,a Distressed Property Specialist with over fourteen years in real estate dealing in foreclosures, first time home buyer programs and investor sales. We offer full time, full service Property Management in Pensacola, Pace or Gulf Breeze Florida.Click here to view Homes for sale in Pensacola Florida or search pensacolamls for new homes on the market.
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