We Buy Houses In Atlantic Beach FL. We offer Cash for your House In Fl but there are many benefits of owner financing for homeowners in Atlantic Beach FL! Learn more about the perks of using a rent to own contract in our latest post!
Rent to own contracts is not standard boilerplate agreements. There are many aspects of the deal that can be modified to better suit a buyer or a seller. The terms of the lease, down payment, and responsibilities of both the buyer and seller can all vary from contract to contract. When the agreement is structured correctly, a home seller has the potential to come out ahead when all is said and done.
Cash Upfront For The Atlantic Beach FL Property
Just because you opt to use owner-financing, doesn’t mean your buyer will be able to avoid a down payment. When a seller offers to finance for a property, even if it is short-term in a rent to own situation, they will still want to collect a down payment upfront to secure the deal and to protect the seller from any loss. This upfront cash is often referred to as the option fee, which gives the buyer the option to purchase at the end of the lease term. This fee can be anywhere from 2-7% of the final purchase price, however, a smart investor will keep this number on the low side to ensure they aren’t inadvertently pushing away any potential buyers by asking for an option fee that isn’t affordable.
Guaranteed Income Of Your Property In Atlantic Beach
When you use owner financing or rent to own agreement to sell your house you will help ensure that you are bringing in an income each month. Your buyer or tenant isn’t going to risk defaulting on their agreement, so you can almost guarantee your money will be received on time every month. Having extra income can mean huge changes for you and your family. It can be like having a second job, without having to do all of the extra work. Many landlords are desperate to find a tenant. When owner financing comes into play tenants will line up at the chance to buy a home outright.
A Larger Pool Of Buyers In Florida
Offering owner financing to help sell your house in the Atlantic Beach FL area will bring in a whole new pool of buyers. People who aren’t able to qualify or afford a down payment on a traditional mortgage will be able to come to you. Of course, you will need to run background and credit checks so you don’t end up in an agreement with the wrong person. But by offering owner financing for your property in Atlantic Beach FL, you will be able to find many more potential buyers for your home. You will also be able to help someone who has a dream of homeownership, but who isn’t quite ready to do it all on their own.
Get Your Asking Price For The FL Property
Buyers are usually willing to pay your asking price in exchange for the opportunity to purchase your home. Your price should be reasonable and in-line with what other properties are selling for in the area. You may have to wait a year or two for the house to officially close. If you don’t mind collecting a rent payment, instead of the total profit from the home right away, you’ll likely be able to collect your asking price, without having to lose any money on the sale. You will have the upper hand in negotiations as your buyers aren’t going to want to have their offer be rejected.
A Fast Sale In Atlantic Beach Florida
By opening the door to new buyers, you’ll likely encounter many people who will jump at the chance to buy. Typically, you will be able to find a competent buyer right away. A traditional sale could have you waiting for months until a suitable buyer is found. By signing a rent to own agreement right away with a potential buyer, will immediately limit your liability and will help you end a good amount of ownership costs that you had previously been facing.
Freedom From FL Property Expenses
Once you have a tenant or prospective buyer in place, typically repairs and maintenance expenses will fall on their shoulders. That’s not to say you are off the hook for all costs, but you will be able to alleviate the majority of the routine repairs and maintenance costs homeowners often face. By eliminating these expenses from your budget each month you will be able to save up even more money toward the purchase of a new Atlantic Beach FL investment property.
Atlantic Beach FL Home Buyers
When you sell your house In Atlantic Beach FL. The most important thing is to make sure you are protected and you might be looking for some tips and tricks to make it more appealing to potential buyers!
There is nothing that says you need to hold onto a house forever. The traditional methods of selling don’t always attract the right buyers. Offering owner financing on the sale of your property can quickly turn the tables, helping you find a buyer almost immediately.