Are you looking for a rent to own house in Davie? If so, then browse the featured listings on this page, or signup to access our complete guide and listings for all lease to own properties in the Davie area.
Featured Rent To Buy Houses in Davie, Florida
Browse the following featured properties in the Davie, Florida area, or click the link on this page to get access to the complete listings for Davie rent to own houses.
How Rent To Own Real Estate Works
Also known as a lease option, rent to buy homes are a type of owner financing tor real estate properties.
While the terms of the agreements can vary from house to house, the typical scenario is one in which the owner is looking to sell the property but is willing to accept payment over a period of time, rather than an up front settlement.
In this case, the buyer and seller both agree on the selling price of the home, and the terms of the purchase agreement, specifying things such as payment terms, interest, and length of the agreement.
Usually, owner-financed properties are paid off much sooner than a traditional bank mortgage, but by allowing the renter time to accrue equity in the house, the renter can often roll over that equity into a traditional mortgage after 1-3 years, if the need arises.
Every month the renter/buyer makes a payment to the seller. Typically, part of this payment is credited as rent, while a second part is credited towards the interest on the loan and/or equity in the home. Over time, the renter can then buy out the seller, even if the renter didn’t originally have a large downpayment or the credit needed to qualify for a traditional mortgage.
Davie Lease Purchase Homes and Houses
While there are many advantages to lease option, or lease to purchase homes, one of the main difficulties can be in locating the currently available properties.
Many rent to own listings are never uploaded to national or local databases, since it is common for sellers to work independently and not go through a real estate agent for these transactions. It is also common for sellers of owner financed, rent to buy properties to sell their homes casually, meaning that they are interested in selling, but are in no hurry to do so, meaning the listings are not widely publicized.
To find the full list of rent to buy properties in your area, you need to sign up for a dedicated listing service, which works to identify all of the relevant opportunities within your target geographical area. Without a reputable listing agency, finding these properties can be extremely difficult!
Listings for Rent To Buy Properties in Davie, Florida
Want to take advantage of the luxurious Broward County lifestyle without the hefty price tag? In that case, Davie, FL may be just the place. This wonderful little city nestled in among the broader Fort Lauderdale region is the perfect find for someone looking to call South Florida their home. Click here for more luxury homes & lifestyles.
Your house is likely to be just a few minutes from the beach, and will have easy access to Fort Lauderdale, which is known world-wide for its broad selection of fine restaurants, great and entertainment options and more, not to mention it’s repute as an international travel hub, so you’ll be able to go anywhere on a moment’s notice.
Davie, though it has the advantage of being in close proximity to Fort Lauderdale and Miami to the South, is actually a small city, of fewer than 100,000 residents. This gives you the advantage of living in a city without having to deal with the problems of the city, and Davie is known for its more laid back atmosphere and easy going way of life.
The only downside to living in this part of the country is the price tag, as South Florida is known for having a lot of luxury real estate. That said, you might be surprised at just how affordable the area can be, especially if you take advantage of non-traditional financing options.
Probably the most advantageous and most often overlooked form of financing for your new home is to find a rent to buy house offered for sale outside of the standard real estate market. These houses can be a great deal for a buyer who doesn’t want to put down a lot of cash in deposit, or who has poor credit and would have difficult getting strong loan terms from a mortgage lender.
By contrast, the seller of rent to own homes is usually willing to work with the buyer to come up with a deal the benefits everyone, since the seller always has the value of the property to collateralize the loan. It means the seller can usually sell the property more quickly than he could otherwise, and the buyer doesn’t have to worry as much about the deposit or credit terms.
Not only that, but you can also save tens of thousands of dollars in commissions and closing fees because you’re likely to work outside of the traditional real estate realm. If that sounds appealing to you, sign up using the link on this page and start browsing rent to own real estate listings in Davie, Florida today!