For those who may be ready to sell yet can hold onto a house that is ready for rental for a few years longer, the rent-to-own scenario provides some perks that make rent-to-own an option worth considering.
There is a large buyer pool waiting for these opportunities, seeking to attain the lifestyle that homeownership affords before they’re ready for a mortgage. Read on as we explore five benefits of selling your house via rent to own in Long Island
One benefit of selling your house via rent-to-own in Long Island is in the equity that will build over the time of the contract so that when your property closes, you will make more significant gains on the sale. By selling directly to a local professional home buyer like those at Prestige Home Buyers, we can help you understand the projected returns you can expect.
Another benefit of selling your house via rent-to-own in Long Island, there’ll be no delay in your receipt of the deposit funds, and your steady cash flow will begin immediately, offsetting any costs of holding the house. When you work with a local professional home buyer like those at Prestige Home Buyers, you’ll be counting your cash in a matter of days; with the power of cash and our full-service team of highly regarded local pros moving at lightning speed to help sellers like you.
Much like squeezing the final precious drops of cash out of your house, with rental rates quickly rising, you could gain a significant boost in returns on the investment you have made in the house before finally exiting the property. Rental premiums, added to the monthly rent, are another benefit of selling your house via rent to own in Long Island. If the buyer exercises their buying option, the rental premium applies towards the downpayment. However, should the buyer fail to exercise the option, you’ll keep the option fee you charge for their down payment and the premium payments. Selling via rent-to-own to a professional home buyer like those at Prestige Home Buyers means you won’t need to worry about your buyer backing out or finding another buyer for your property down the road.
Another benefit of selling your house via rent-to-own in Long Island is that, unlike typical rental properties, there will be minimal for you to do in the role of landlord other than receive your income. Therefore, you can design the contract to negate the impact of routine repairs and maintenance. Most of these expenses will fall upon the tenant, who will treat the property as if it was their own. Often, there is a top-dollar limit on the repairs for which they’re responsible.
Another plus of rent-to-own sales, you won’t be paying the monthly mortgage and utilities you would be responsible for during a listing period on the market, saving you even more. Another of the benefits of selling your house via rent-to-own in Long Island, when you work with a local professional home buyer like those at Prestige Home Buyers, there are no commissions, closing costs, or hidden fees to come off your profits.
The local professional home buyers at Prestige Home Buyers are ready to buy – at your asking price via rent to own. If you’d like to talk to one of our seasoned pros about the benefits of selling your house via rent-to-own in Long Island, we’ll answer your questions or concerns with no obligation. The team at Prestige Home Buyers is proud of our work helping our neighbors here in Long Island solve problems, and we want you to feel good about working with us long after the closing. Call Prestige Home Buyers at (631) 336-9166.