Why Are so Many Homeowners Selling Privately With a Rent to Own Option? By Paul Sharp At Isnare.com Ezine Articles

Nowadays more and more homeowners are selling privately with a rent to own option. This is to help them make a fast sell and to save money. The goal is to get someone into that home and taking over that payment right away. Even if the home is paid for, the additional income coming in is going to be nice for anyone.

The fees that real estate agents charge continues to increase as the housing market get tighter. Since they are selling fewer houses per month they want to increase the revenue that they gain from each one. From the viewpoint of a homeowner, why pay someone such fees when you can keep all of the profits from the sale for yourself?

There are more people out there looking to buy a home than can get financing for one or that can afford the down payment as well. When someone is willing to sell their home on a rent to own basis it allows those individuals to make their dreams of owning a home a reality now instead of several years down the road. As a result they are going to take very good care of the home and they are going to be committed to making their payments on time.

Selling privately with a rent to own option means you can set the terms as well. If you owe money on the home you may want a monthly payment that is equal to what you already pay. However, you can ask for more and use that money for your own needs or to pay extra towards the principle. That way the home is paid off faster and there is less interest that is due on it.

Some people have tried to rent out their homes in the past and it didn’t go very well. Even when they asked for a deposit, the renters may have fallen behind on payments. Often they don’t take care of a home that doesn’t belong to them either. There is also the problem of paying for repairs that the home needs. With a rent to own option you are free from all of those situations. You don’t have to deal with renters that ruin your home or costly repairs that drain your income.

There are many tax benefits to the seller too when they exercise the rent to own option. They don’t have to pay for capital gains which can result in more money being owed on their tax returns. For those that are retired and own their home outright, the fact that they can supplement their monthly income from the payments for the home is going to reduce their stress. Even with a good retirement plan, the cost of living has gone up so much that many retirees simply don’t have enough put aside.

If you have a home that you need to sell, you may want to consider the rent to own option as well. There are many consumers out there interested in such a bargain and so it can reduce the amount of time that your home will sit. If you are in a crunch to get money out of it or out from under the burden of the payment, rent to own is a great way to help you do so. There is no reason to worry or to allow your home to sit on the market for several months before it sells. This method can also help you to get your asking price for the home instead of settling for less.

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