Fresh Start Home Sales, based in Snellville, Georgia, has announced that they have recently published a blog post explaining why the rent to own scheme is a legally acceptable way of buying a home. The lease to own recent blog post points out that while it may seem to be too good to be true, regional rent to own homes have become an acceptable and practical option for people in Gwinnett County, Georgia, who want to own their dream home. The only problem is that there are certain unscrupulous people who give this particular alternative a bad name. The article points out that the rent to own scheme for buying a home is actually a good option for people who are currently financially incapable of getting a home through the conventional way.
Fitz Thompson, a spokesperson for Fresh Start Home Sales, says, “You can find numerous fantastic articles online from reputable resources that back up the fact that lease to own (likewise called a rent to own home by many people) is a legitimate and fantastic way to work your way into homeownership. If you desire more details on leasing to own a Gwinnett, County, Ga. house, the process, and our offered list of local Gwinnett County, Ga lease to own houses/ lease choices, give us a call or contact us through email.”
The article explains that the rent to own arrangement is actually a basic concept. The home buyer and seller first come to an agreement on the price of the house, the regular monthly rental, and how long it will take for the buyer to buy the house. Next, the home buyer moves into the home and starts paying rent. While this is going on, the tenant-buyer focuses on repairing his or her credit score or seeking for potential sources of financial assistance for purchasing the home through conventional methods. At the end of the term of the contract, the tenant-buyer may choose to buy the home at the price that was agreed upon in the contract, or he or she may decide not to purchase the house after all. Fitz Thompson says, “If you want to know more about the rent to own scheme, follow us on Twitter.”
The blog post also warns people who are considering rent to own that there are a number of possible pitfalls. First, if the tenant-buyer misses one payment, the whole contract may be voided. Thus, it is important to clarify this particular point at the start before signing the contract. Second, if the tenant-buyer decides later on not to buy the house, or is unable to secure the needed financial assistance, any “credit” made towards the purchase of the home will likely be lost. In general, there is an in advance “option fee” that has to be paid by the potential buyer at the start. This is usually non-refundable in the event that the tenant-buyer decides not to purchase the home. And unlike conventional leases, the tenant-buyer will be responsible for any repair work that would be needed.
Naturally, there are many advantages of the rent to own option of buying a home. First of all, the tenant-buyer would be able to check out that particular community where the home is located before committing to buying the home. Second, tenant-buyers who have a poor credit rating will have time to put it in order before they enter into a home purchase agreement. For the home seller, the arrangement will offer the advantage of the tenant-buyer being motivated to maintain the home properly. The seller will also have the benefit of receiving monthly payments. And the seller will have a much wider market because it will include even those who don’t have good credit ratings.
For those who are interested in learning more about the rent to own alternative of buying a home in Gwinnett County, Georgia, Fitz Thompson says, “For more information visit us here.”
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For more information about Fresh Start Home Sales, contact the company here:
Fresh Start Home Sales
Fitz Thompson
6783371165
fitz@freshstarthomesales.com
Fresh Start Home Sales
2330 Scenic Highway
Snellville Ga, 30078
