Rent to own homes in St Cloud Florida

Rent to own homes in St Cloud Florida are in high demand. The problem is, they are in

short supply.  Much like the search for “Big-Foot”,  do they really exist ?  Renters looking to

transition into home ownership,  need to be mindful, that in a rising market, a  ” Rent- To-

Own” Option is a poor choice for a home seller.

 

If there property is worth $100,000 today,

and you have a ” Option to Buy” in a year, the seller will actually be taking a loss.

price gains in the past year, have risen 12 percent.  So, that $100,000 home, would be worth

$112,000, as an example.  Costing the home seller $12,000 in appreciable loss as the

housing market continues to rebound albeit slowly.

 

Typically, renters looking for this type of easy entrance into the home market, may also

have credit issues, which are forcing them to look for less traditional and more “creative”

methods to transition  into home ownership.

 

The inherit risk to would be rent-to-own participants on the buying side, is of course the

possibility that the home seller is in distress, early stages of foreclosure, or in short sale

jeopardy.   Which means, you could lose any credit towards your purchase.

 

Traditional methods for purchasing a home really are the best option still.  Loans through

FHA are available for would be buyers with FICO scores under 600.  It is wise to consult with

a mortgage broker, or banker, to determine what your credit worthiness is, and what you

may need to do, to improve your credit score to better position yourself to make purchase

purchase in the future.  Buying a home, is the largest purchase you can make.  Get good

ad use from a loan originator, and avoid looking to create problems down the road by

searching for short cuts.