For those positioned to hold the property for an extended time, a rent-to-own agreement can be profitable to sell your property with buyers willing to pay a higher price. A rent-to-own sale earns more because you offer the buyers an opportunity to experience all of the perks of homeownership while repairing any credit issues. Or perhaps they need the time to save for the required percentage the lender requires for their downpayment.
When reaching the end of the agreement, it is crucial to establish clear terms that offer buyers the option to terminate the contract or face legal consequences in case of default. To ensure a hassle-free process and mitigate potential legal disputes arising from ambiguous contract language, sellers are strongly advised to seek the assistance of a real estate lawyer. Taking this extra step of having your documents reviewed is well worth it, as it helps guarantee smooth sailing and avoids conflicts over the precise wording of the contract. So, continue reading as we delve into five compelling reasons to consider selling your house in New Britain through a rent-to-own agreement.
Set Your Price
One compelling reason to consider selling your house in New Britain through a rent-to-own agreement is the opportunity to set a sales price that exceeds the current market value. With this arrangement, you have the flexibility to name your price, taking into account the potential risk of setting it lower than the future value, which is typically determined after a period of around two years. This allows you to maximize your return on investment and potentially secure a higher selling price than if you were to sell through traditional methods in the present market conditions.
Listing Costs
Another compelling reason to consider selling your house in New Britain via a rent-to-own agreement is the potential cost savings associated with avoiding traditional listing expenses. By opting for a rent-to-own arrangement, you can eliminate the need to pay commissions or other fees typically incurred when listing a property on the MLS (Multiple Listing Service). This includes expenses such as professional photography and drone videos to showcase the property, preparing it for potential buyers, and even hiring a professional stager to enhance its appeal and secure the best possible sales price on the market. By bypassing these costs, you can potentially save a significant amount of money while still achieving your desired outcome.
Buying Pool
Selling your house in New Britain through a rent-to-own agreement offers the advantage of expanding your buyer pool beyond the traditional MLS buyers. This arrangement allows you to attract individuals who are in the early stages of building their credit and increasing their savings, as they work towards their goal of owning a home. By offering a rent-to-own option, you tap into a previously untapped potential buyer pool, accommodating the evolving societal norms where more and more aspiring renters are actively moving towards homeownership. This broader reach increases your chances of finding a suitable buyer and facilitates a mutually beneficial agreement for both parties involved.
Generate Cash Flow
One of the enticing reasons to consider selling your house in New Britain through a rent-to-own agreement is the potential for increased earnings. In addition to the down payment received upfront, you can benefit from a higher-than-average monthly rent, which often includes an additional payment towards the down payment at the end of the contract term. This arrangement allows you to generate greater income compared to traditional rental agreements. Furthermore, as part of the contract, the buyers assume ownership responsibilities, including the costs associated with maintenance and repairs. This relieves you of the financial burden typically associated with property upkeep, resulting in additional savings and a more favorable financial outcome for you as the seller.
Faster Sale
The speed at which you can enter into the agreement and start earning cash flow is a great reason to consider selling your New Britain house via a rent-to-own agreement. Then, you can take your downpayment straight to the bank without all of the hoopla and fanfare of qualifying for conventional loans that can take weeks or even months before closing.
Let The Property Warehouse help you learn about selling your New Britain house via a rent-to-own agreement. A direct buyer from The Property Warehouse will detail what you could earn by selling rent-to-own. Let the pros at The Property Warehouse make it easy! With experts from every walk of the real estate industry, The Property Warehouse can handle it all! If rent-to-own doesn’t suit your circumstances, our direct buyers will lay out what you’d make with a traditional listing with an agent and then lets you compare this to our offer, which you’ll agree is fair. When you work with The Property Warehouse 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 The Property Warehouse at (203) 626-4282 .