Enhance Your Knowledge On Rent To Own Programs

1
Enhance Your Knowledge On Rent To Own Programs
2
Synopsis

1. Rent To Own Properties What To Know As A Seller
2. Looking For A Rent To Own A Home? What To Look
   Forward To
3. Rent to Own Condos How To Get Your Dream Home
   Now
4. To Buy A Foreclosed Property Or Not?
5. Plan On Doing Business Abroad? Heres Why Credit
   Management Is Crucial

3
Rent To Own Properties What To Know As A Seller

• As a seller, renting to own properties can be an
  excellence solution that ensures greater profit
  and more financial stability. One of the reasons
  would be that most renters seeking to buy a house
  choose the rent to own option because of slow
  financing and low credit scores, hence sellers
  can potentially get higher prices for their
  properties, even in a not so bright market.
• Depending on the property and circumstances, the
  seller is also entitled to ask for higher rent.
  Unexpected things happen all the time and it is
  important to be covered should any occur.
  Additionally, much like a deposit, the fee paid
  by renters is non-refundable if they fail to meet
  the agreement.
• Another part that can be saving the seller a
  significant amount of money is not having to use
  real estate agent services, which can be
  extremely costly. Its no wonder the industry is
  valued at 14 billion in Canada, with just 4
  annual value increase . To put it even more in
  perspective, real estate agent commissions can
  run anywhere between 3 and 7 or even 10,
  depending on the business and location of the
  property. Imagine that if you are selling a
  property for 350,000, their part is about
  14,000. That is an insane amount of money out of
  the sellers pocket for a service that, with a
  bit of effort, they could be doing themselves.
• Last but not least, rent to own properties is far
  less stressful than actually trying to sell a
  house on the spot. The seller also has the
  advantage of knowing the future owners, and
  because the property is about to be theirs, they
  invest a lot in taking care of it.

4
Looking For A Rent To Own A Home? What To Look
Forward To

• Rent to own is a very appealing solution to many
  people and with reason for the right people in
  the right situation, there are very few risks and
  just benefits to reap. Flexibility is one of
  them. You can enjoy the property without having
  to worry about the instability of renting. It
  also allows you the freedom to change your mind
  should something not be up to your standards,
  which can offer you a much needed escape ticket.
  We all know the feeling of living in a place that
  is just not right, regardless of how much you
  personalize it or how much work you put in, it
  just doesnt feel like the home sweet home we are
  longing for.
• Another great pro is the fact that you can
  benefit from rent to own home, regardless of your
  bad credit. It may be the case that you tried and
  tried and just did not qualify for a loan. By
  entering an agreement where the rules are
  pre-established and you keep your end of the deal
  by paying up the associated monthly fees and
  costs, your credit score might actually benefit
  from this.
• Last but not least, rent to own gives you a level
  of certainty. This is especially appealing for
  people who dread moving and have a connection
  with their neighbourhood as you will not be
  required to change houses so often. This also
  ensures a level of financial security as moving
  is quite expensive.
• Simultaneously, it allows you to create a
  long-term plan for how much you save and how much
  you spend as you will be in a better place to
  estimate since the rent price and final amount
  owed will be agreed beforehand. It comes as a
  plus that, as a buyer you have the opportunity to
  buy a house at todays price, regardless if over
  years the property increases in value. With a bit
  of luck, you might even find a luxury property
  and lock it down for the future.

5
Rent to Own Condos How To Get Your Dream Home Now

• With more and more people looking to own a condo
  but simultaneously facing financial challenges,
  the rent to own option means taking the pressure
  of doing everything in one go. The buyer has to
  pay in advance a certain percentage of the
  condos full price going towards the down
  payment, similar to a deposit. The buyer can then
  move in and start paying the regular pre-agreed
  on installments over a determined period of time
  or until the price is paid in full.
• Renting to own a condo is a brilliant idea,
  especially if you are looking to move away from
  noisy neighbourhoods that many times are unsafe
  and from houses that can be quite old and require
  refurbishments and extra costs. Condos are modern
  properties, many equipped with the latest
  appliances and have an overall fresh and modern
  look and feel. Additionally, buildings usually
  incorporate luxurious amenities that will make
  you feel like youre at a resort, including spa,
  pool, clubhouses, barbecue areas, courts, laundry
  facilities, bars and more.

6
Rent to Own Condos How To Get Your Dream Home Now

• Under a rent to own agreement, potential buyers
  get to move in the condo right away, which means
  you can start living in your dream home for an
  affordable price. It is vital that for the next
  years, the buyer works on improving credit scores
  and starts saving to ensure everything goes
  smoothly. Negotiations and clear terms should
  also be a focus when looking to renting to own a
  condo. Each contract is different and the two
  involved parties decide how the price of the
  condo should be calculated under common
  agreement. Because most sellers are looking to
  cover themselves in case the market will continue
  to experience turbulences, they might overvalue
  the property and set a higher price. However,
  this is not uncommon as long as the difference is
  within limits.
• The contracts terms and conditions also need to
  clearly state what the responsibilities and
  duties are from both sides. Leaving room for
  interpretation or imprecise claims can turn into
  financial disasters and ruin it for both the
  seller and the buyer. Take for instance if you
  miss payments you risk not being able to purchase
  the condo when the contract ends and depending on
  the seller, you may even lose the money youve
  put towards the down payment or even worse, you
  risk for the property to be foreclosed and you
  forced to move.

7
To Buy A Foreclosed Property Or Not?

• Step 1 Find the home you want
• This information can be found in newspapers,
  online or by accessing the services of specific
  real estate agencies. You will then get in
  contact with a lawyer representing the bank and
  will provide you with additional details about
  the property and about the auction.
• Step 2 Ask for a viewing
• Similar to not buying a car before you drive it,
  it is utterly important to view the property.
  Unfortunately, many of them are unavailable for
  viewing on request and the only thing you can do
  is wait for an open house event and inspect
  everything then. A good advice would be to bring
  along experts that can properly review aspects
  such as plumbing, moulding, carpeting and others,
  and evaluate how much any potential repairs would
  cost. You might want to check out the
  neighbourhood as well and do some background
  research, especially if you are planning to raise
  your children there.
• Step 3 Go to the auction and try to close the
  deal
• Surprisingly, even though it is not a rule of
  thumb, may people are unaware that in the
  majority of cases of buying foreclosed properties
  through power of sale there is an auction. This
  usually takes place at the lawyers office and
  brings together potential interested owners.
  Because the rules of the auction can vary from
  one case to another, they are disclosed before
  the bidding starts. For example, if after they
  announce the starting price and the bids begin,
  if youre holding the highest one and win, you
  will be expected to pay a percentage of the price
  of up to 20 on the spot. Following successfully
  doing that, you will then have approximately a
  month to close the deal.

8
Plan On Doing Business Abroad? Heres Why Credit
Management Is Crucial

• Proper credit management empowers businesses to
  protect their finances and profit margins while
  also decreasing debts. Best practices? It is
  vitally important that business owners do their
  homework by collecting all the relevant
  information about the potential client. Most
  importantly, that information should be easily
  accessible or offered at request. Another
  important box to tick is their financial history,
  including credit scores, payment records, or
  outstanding debts. As difficult as this may be to
  do, particularly in emerging markets, thoroughly
  checking and contacting individuals that can
  either reinforce a statement or deny it will
  definitely pay off on a long term basis.
• In addition, businesses should make sure the
  agreement terms are as clear as possible.
  Disputes can arise otherwise and it can be easy
  to fall in a trap because of vagueness or space
  for interpretation. An effective credit
  management plan will always include crystal clear
  processes and up to date information, preferably
  with payment required in advance but depending on
  the nature of the business.
• In a simpler way, many times and especially
  during a crisis and not only, the temptation of
  taking a risk in an effort to gain a win
  increases. Such moments are key for decision
  makers and they need to be thought through.
  Should payment inconveniences occur, the wrong
  decision may cost a business more than not taking
  the risk.

9
The End

• For more details, please visit
• https//homeownersoon.com/rent-to-own-program