Contemplating making the plunge to a Rent to Own Home ?
Don’t be afraid to GET WET !
If you have decided that landlords, lost wages, and neighbors just 6 inches away has got you bugged, we don’t blame you! Rent to Own has it’s benefits,
but Rent to Own is NOT a get out of jail free card.
With a few basic but not so obvious tips, you should soon be having a great time at the beach without getting sand in your swimsuit.
In a series of articles, Colorado Home Trust would like to explore the insider secrets of the Rent to Own/Lease Option Colorado Springs landscape so you can feel at home with your decision and have the tools to absolutely dominate the process.
Let’s talk about buyers expectations.
GET ORGANIZED !
All Rent to Own programs are essentially short term owner financing.
By that I mean, that the Tenant buyer is given the opportunity to lease the property they intend to buy while possessing an exclusive option to purchase the property at a pre-arranged price.
In the typical situation, the tenant buyer needs to work on some credit issues that are keeping them from obtaining their financing today. Is this you ?
Buying a great home is NOT LUCK, it’s proper preparation.
You may realize by now that there is NO “Get Out of Jail Free” card when it comes to managing your finances in preparation for buying a home. Everyone has had bad luck at one time or another, but the serious buyer knows that’s no excuse.
Get with the program! Let your rent to own specialist know that you are willing to jump through hoops for the opportunity of buying a new home.
It is imperative that you treat the process of repairing your credit as seriously as death! Without a successful program to follow, many buyers simply are not able to purchase within a reasonable time, because they neglected to do what it takes.
Listen to your counselor and make the changes they recommend. You will benefit.