A rent-to-own agreement can be advantageous to selling your house in Riverside with purchasers prepared to pay a higher price if you want to keep it for a long period. A rent-to-own sale earns more since it allows buyers to enjoy all of the benefits of owning while still rebuilding their credit. Perhaps they require the extra time to save the required percentage of their downpayment that the lender requires.
You can provide provisions at the end of the contract that allow the buyers to walk away or that they will face legal action if they default on the deal. Sellers should consult with a real estate attorney to review their documents and ensure that everything goes smoothly. It’s certainly worth the extra effort to avoid legal wrangling over the contract’s exact phrasing.
Read on as we explore five reasons to consider selling your house in Riverside via a rent-to-own agreement.
Set Your Price
The flexibility to set your sales price higher than the current market is one incentive to consider selling your house in Riverside via a rent-to-own agreement. Because you’re risking setting the price lower than the value in the future (usually two years), you can name the price.
Another incentive to consider selling your home in Riverside through a rent-to-own deal is to avoid the costs of a listing. You won’t have to pay commissions or other fees associated with listing on the MLS, such as professional high-quality digital photos and drone footage, preparing the home for buyers, or even hiring a professional stager to achieve the highest potential sales price.
By selling your house in Riverside via a rent-to-own agreement, you expand your buyer pool beyond the average MLS buyer to include individuals in the early stages of building credit and saving toward their goal of owning their own home. Furthermore, as societal standards have changed in recent years, an increasing number of would-be renters are preferring to become homeowners; rent-to-own agreements provide access to this previously untapped potential buyer pool.
Generate Cash Flow
Another reason to consider selling your house in Riverside via a rent-to-own deal is that you’ll be earning a higher-than-average monthly rent, often including an extra payment towards the downpayment at the conclusion of the contract term. Because the buyers also assume ownership duties in the contract, you will not be responsible for maintenance and repair costs.
Consider selling your house in Riverside via a rent-to-own agreement because of the quickness with which you may engage into the agreement and begin earning cash flow. Then, instead of going through all the fuss and ceremony of qualifying for traditional loans, which can take weeks or even months to close, you can just take your downpayment to the bank.
Allow Southern CA Cash Home Buyers to assist you in learning more about renting to own and selling your home in Riverside. A direct buyer from Southern CA Cash Home Buyers will explain how much money you can make by selling rent-to-own properties. Allow the experts at Southern CA Cash Home Buyers to take care of everything! Southern CA Cash Home Buyers has specialists from every aspect of the real estate sector and can handle any situation! If rent-to-own isn’t right for you, our direct purchasers will estimate how much you’d make with a standard listing with an agent and compare it to our offer, which you’ll agree is reasonable. When you work with Southern CA Cash Home Buyers to buy or sell real estate directly, we never charge commissions. So why not find out what is in your best interest with absolutely no obligation? Contact Southern CA Cash Home Buyers at (951) 355-7115.