Reasons Why Interest in Rent to Own Homes in GA is on the Rise

As people learn more about different ways to qualify for home purchase, one method is taking over as a popular choice. There is one particular reason why interest in rent to own homes in GA is on the rise. It turns out that process is a win-win situation for both sellers and buyers.

There is no standard form for this type of contract. Real estate agents, property management companies and certain attorneys can look over an agreement with the renter/buyer. They might notice a provision that is disadvantageous and bring it to light. That leaves the option to renegotiate the deal, accept it as is, or move on to one of the other rent to own homes in Macon.

An advantage of living in Macon is the historic value of this Southern city. Events like the Cherry Blossom Festival in March bring locals and visitors to celebrate the return of spring. Take a stroll down the riverwalk or browse through the boutiques and art galleries that dot the area. Tourism has helped the city survive the economic instability of the last decade. That is another reason why it is one of the most popular places to live in Georgia.

Another reason this type of pending purchase plan is attractive is that it gives you anywhere from 12 to 36 months to build up a down payment and improve your credit score. Some property management companies report your payment habits to credit reporting agencies. The longer time provided for you to add to the escrow fund supplements other monies you are saving for a deposit. Meanwhile, your credit rating is improved by paying bills on time and avoiding extra debt.

Be sure to verify that the agreement you sign covers that possibility. You must have a certain amount for a down payment and closing costs. There is also the need to qualify for a mortgage when it is time to formally purchase your choice of the rent to own homes in GA. In the event you are ineligible or things have changed, walk away from the home when the contract expires.

Five Places to Look for Rent to Own Homes in Maryland

You will discover many areas to find rent to own homes in Maryland. The challenge is deciding which is the best for you and your family. A quality education and good job market are requirements for some. Others look for pleasant weather and public transportation. The following five areas in Maryland are excellent areas to search.

The capital of Maryland, Annapolis spreads out over nearly 7 square miles. The population of 38,000 enjoys a comfortable July average temperature of 78 F, while the January average is 33 F. Like Frederick, the city has plenty of rainfall, with an average total nearing 45 inches. Remarkable buildings include the State House with its fantastic view of the harbor. Many recognize the city name as the home of the U.S. Naval Academy.

A planned community, Crofton has excellent test results in math and reading by their students. That is one reason this area is a great place to choose for those with school-aged children. Job growth continues for the approximate population of 28,000. The average high temperature of 87F in July makes for pleasant summer picnics and other outings. January brings low temperatures hovering around 21F. Joggers, bicyclists and casual walkers enjoy the scenery when they use the 3.5 mile loop that the town around. A country club and town hall demonstrate the community spirit.

Germantown is only 32 miles from the nation's capitol, making it a bedroom community for those who work in Washington, D.C. Local employment is thriving, as well. Visitors, as well as the local population of approximately 86,000, enjoy cultural activities such as the annual Oktoberfest. The average high for July is 86F, while January's average low is 24F.

You will find rent to own homes in the city of Frederick. Covering over 22 square miles, the population of nearly 66,000 people enjoys its close proximity to Gettysburg, Baltimore and Washington, D.C. The weather is pleasant, with average temperatures of 33F in January and 78F in July. Rainfall of 40 inches keeps the area green and appealing, providing for successful orchards and vineyards.

Gaithersburg has the atmosphere of small town friendliness, although the population exceeds 63,000 people. The schools are excellent and the streets are safe. The economic strength continues to grow, providing more job opportunities for current and prospective residents. IBM and the National Institute of Standards and Technology are just two of the employers in this area. July brings a high of 85F, while January brings a low of 24F.

Enjoy the natural and man-made landscapes while looking at rent to own homes in Maryland. This is a beautiful area in which to live.

Young Homebuyers Attracted to Lease Purchase Homes in GA

Recent trends show that young homebuyers are attracted to lease purchase homes in GA. Rent to own homes within this state have many benefits that are attractive to younger buyers looking for a home. Here is a look at a few of those benefits.

First, young homebuyers have found that Georgia offers a real estate market that is saturated with many different properties. Those specifically looking for lease to own homes in GA will find condos, single family homes and other properties available with the rent to own homes. These properties are available across the state as well, allowing buyers to settle in almost any area within the state they prefer.

Many young homebuyers have families and want to relocate to an area that offers job opportunities. Recent numbers have shown that new jobs are being created within Georgia and the unemployment rate has recently dropped as well. This offers promise for those looking for rent to own homes, especially those who have families to support.

In many cases, young homebuyers are active and enjoy living in a mild climate that allows them to be active all year long. Known for its mild winters and subtropical climate, Georgia offers an excellent climate for active, young homebuyers, which is another reason they are so attracted to rent-to-own homes in GA.

Of course, the lease option itself is very attractive. It allows home buyers a non-traditional way to make a home purchase, which is helpful in a time where it’s difficult to qualify for a traditional mortgage.

Click here for a great guide to rent-to-own agreements.

Jackie Siegel, The Queen of Versailles

When half the world is engaged in avoiding bank foreclosures, planning for short sales and other methods of keeping a grasp on their home, it comes as no great shock that they might be interested in the extreme lengths to which the rich and famous will go when creating a new residence.

By no stretch of the imagination are David and Jackie Siegel to be considered the wealthiest family in America. That distinction would be awarded to the Waltons--Walmart clan who are currently worth about 100 billion, give or take.

However, David and Jackie could be considered the most opulent and lavish in lifestyles. David is a mogul of timeshares, while Jackie was a beauty queen, most interested in living life to the fullest, and being worshipped and adored. Seemingly far from as arrogant as her solid gold purse makes her appear, Jackie Siegel is actually quite likeable, if not entirely realistic about life and not entirely sympathetic about the rest of the world.

With bank foreclosures in the horizon for their luxury 90 thousand square foot home, the way in which the Siegels economize is nothing short of fascinating if moderately amusing. Greenfield, who photographed the house, shows us all that Jackie is childlike in many ways, unaware of what goes into the upkeep of a home of this size. Many photographs actually showed dog excrement in multiple areas of the house from untrained numerous dogs who lived there, while Siegel herself tried to economize by taking her superstretch limo to McDonald's for a meal.

Against the backdrop of David, the proud possessor of an extremely good opinion of his own worth, who flatly states that he placed one president in the White House in ways that may have been illegal, and 8 children who are nothing is not overindulged, in this era of bank foreclosures the entire story should be nothing short of fantastic when it shows in theaters this week.

Lease To Own Homes Perfect For People with Bad Credit

There is this belief among the people of the United States of America that if they have bad credit then they cannot even consider buying a new home. On the other side of the spectrum, people looking to sell homes today are finding it difficult to get good prices on their homes because the American real estate market is so full of options for potential buyers. However, lease to own options are ideal for both these kinds of people i.e. people with bad credit wanting to purchase a home and people with good properties not getting good prices on their offerings.

Rent to own homes allow people with bad credit time to improve their credit score before actually buying a home for a decent price. Similarly, lease to own homes allow sellers to have good prices for their homes locked in for the future while they get regular rent on the same.

Various real estate agents in America are mainly involved with rent to own homes as the property purchase market stays depressed because of the global economic downturn. A good example of this is Ann Ezell who is a real estate agent with ReMax True Advantage which is located in Martinez. Ezell reveals that she deals with a lot of lease to own and rent to own homes these days because it seems to suit both potential home buyers and home sellers in the area.

According to Ann Ezell, the lease to own options allow both these types of people to keep their options open for when the property market in the country starts to look up. This is especially crucial at this moment in time because the real estate market has already started showing signs of significant improvement. Therefore, in another two years or so, a period that most lease to own agreements last for, the property market could be back on track.

Lease Option Homes are Not Rent-to-Own Scams

When you buy a refrigerator or computer under a rent-to-own agreement, you end up paying far too much for the item. You also risk losing the item and all of your money if you get behind on payments and the renting company decides to come take it back. These deals are almost always rent-to-own scams, but lease option agreements in the real estate industry are very different.

It is easy to consider anything with the title “rent-to-own” a rent-to-own scam, but smart consumers will learn that the term is not always bad. Specifically, the term comes with many advantages when applied to the rent and potential purchase of a home.

What Is a Lease Purchase Home?

A lease purchase home is a home in the real estate market that offers renters a chance to become homeowners. If you don’t have the money saved up to make a purchase outright, you can use this type of rental to save up your down payment while you rent. If you don’t have the credit to secure a mortgage loan right now, you may choose to rent this type of home in hopes of cleaning up your credit and purchasing the home at the end of your agreement.

This type of agreement allows someone renting a home to pay a little extra each month in exchange for the option of purchasing the home after one to three years (sometimes longer). The catch is that the extra rent money goes into a special savings account, and then becomes part of the renter’s down payment if they decide to purchase the home at the end of the agreement. The renter is thus given the chance to save their down payment while renting their home.

There are also other terms that can be added into a lease purchase agreement. For example, there is a lease option which can substantially increase the credit a renter receives for a down payment at the end of the agreement.

Why Is This Not a Rent-to-Own Scam?

The lease purchase agreement is very similar to the agreements signed for rent-to-own electronics, furniture, and appliances. Fortunately, these home agreements are also substantially different and have helped many renters become homeowners. Here are the advantages that can be found with this type of rental agreement:

1. You have the option of purchasing the home at the end of your agreement, but you are not usually obligated to make the purchase. You have the advantage of living in the home for a period of years, and then backing out of the purchase option if you decide you don’t want to make the purchase. This is much easier than selling a home after you have made an outright purchase.
   
2. Your down payment is built into your work, so you are guaranteed to have something to put down when the option to purchase comes open.

There are some potential downsides to going through with this type of agreement, such as taking care of repairs on your own throughout the rental period. You may also lose your money if you back out of the purchase at the end of the rental term. Even with those potential risks, these homes are clearly not rent-to-own scams. Rent-to-own complaints typically do not apply to the housing industry.

Rent to Own Scams Do not Include Homes

Many people across the country have been there, your electric range just gave up the ghost and you do not have several hundred dollars to replace it! Perhaps your scenario is a little different, maybe the in-laws have scheduled a visit and you feel your living room furniture is less than up to par. Whatever your scenario may be, you might be tempted to stop by your local rent to own furniture store for replacements, after all the weekly payments are low, right?

Rent to Own Scams

Furniture stores that offer in house financing seem to provide a valuable service, much needed household furnishings offered for a low weekly or monthly rental. What they fail to tell you is what the item will cost you to actually own. Rent to own scams end up being very expensive for consumers - and it's usually consumers of modest means that get hurt.

You see most rent to own stores expect to turn the product over at least three times. In other words in the business model it is expected that consumers will rent each piece a minimum of three times. This vastly improves their bottom line and means you will be paying top dollar even for previously rented equipment. Add to that the possibility that your appliance or furniture could be repossessed if you miss even one payment, and the scam becomes clearer.

Lease to Own Homes

Aside from the obvious problems with rent to own fraud, one of the biggest issues is the shadow these practices have cast across rent to own homes. Too many people associate the negative stigma of rent to own furnishings with rent to own homes, thereby missing out on the potential benefits.

If you are looking for a home but not appliances rent to own could be your best friend. The same could be said for the homeowner facing two mortgage payments in an economy where house sales are in the basement. Finally, a rental-purchase program that is beneficial to both parties instead of just one.

Agreements

Renting to own a home is fairly simple on the surface, the buyer will be required to pay monthly rental fees as well as a one-time non-refundable option fee. In the best of situations the entire option fee will go toward the down payment, should the buyer decide to exercise their purchase option. The agreement will have a specified time limit, anywhere from 1-3 years.

Terms and conditions of your particular rental or lease purchase option may differ. Some of these options may include:

• Loss of payments
  in some cases the contract will include a stipulation that each rental payment be made exactly on or before the due date. Any rental payment that is received late, will not count toward your purchase and you may even incur late fees.
• Maintenance
  Upkeep of the property is negotiable and some homeowners may prefer that you the homebuyer take care of all the upkeep.

Conclusion

There are many reasons buyers and sellers may want to go into a rent to own agreement. Perhaps the home will not sell due to market conditions or the buyer needs to retain ownership of the property for another year for tax purposes. Buyers may need the time to fix issues with their credit report and a simple way to pay their down payment, but as you can see, it is a win-win situation for all those involved.