Have you ever considered using a rent to own agreement to sell your house in San Antonio? The real estate market is in a period of transition as more people are working from home, and homeschooling is on the rise. Many would-be buyers are also transitioning their credit standing to prepare for homeownership in San Antonio, as they are not yet in a position to qualify for conventional financing. You can either create this agreement as an option, where they can walk away voluntarily at the end of the term or as an agreement that would bring legal action for default. Or, you could have an option for an extension if the buyers are not quite ready to buy at the end of the original term.
Failure on the part of the buyers to gain approval for a conventional loan at the end of the two or three-year period set out in the rent-to-own agreement means that the home defaults back to you. You’ll then have the option to rent or resale the property while keeping the deposit and any extra rent fees in the agreement added to the monthly rent as credit towards the down payment.
Because you are in the driver’s seat, you can set the terms for maintenance, repairs and who pays homeowners insurance, and even the taxes in the contract terms. Read on to learn more about how to set up a rent-to-own agreement that will help sell your San Antonio house for the highest price possible
Get Your Asking Price
If you’re looking to sell your home in San Antonio, you may be wondering if you can get your asking price. After all, with the housing market being what it is, you may be worried that you won’t be able to get top dollar for your home. However, there is one way that you can increase your chances of getting your asking price: by offering a rent-to-own deal. Rent-to-own deals are becoming increasingly popular, especially in markets like San Antonio where the housing market is competitive. In a rent-to-own deal, the buyer agrees to pay a set monthly amount for a certain period of time, after which they have the option to purchase the property for a predetermined price.
The typical younger rental pool that would typically seek temporary housing solutions is now turning its eyes towards a more permanent residence, desiring the benefits of homeownership. When sellers offer setting up a rent-to-own agreement, this opens the door to more potential buyers. These buyers understand all too well the chance that they have been provided and are highly motivated towards a successful outcome to the agreement. These factors combine to bring added value, which helps you sell your San Antonio house for the highest price possible.
While some risks are involved in working with buyers who are repairing credit, there is no need to take needless risks. Therefore, you should consider using an experienced real estate lawyer to review your rent-to-own agreement. Avoiding legal conflicts over a poorly constructed contract benefits both parties, the seller and the buyer. Ensuring both parties have legal protections and disputes will likely be avoided is helpful when you sell your San Antonio house with a rent-to-own agreement for the highest price possible.
Phil Buys Homes Cash makes it easy! At Phil Buys Homes Cash , our process is simple and straightforward! We make it easy and fast, working with experts from every walk of the real estate industry. Our team at Phil Buys Homes Cash can help guide you through setting up a rent-to-own agreement. Our goal at Phil Buys Homes Cash is to help you sell your San Antonio house for the highest price possible. The professionals at Phil Buys Homes Cash are happy to answer any questions or concerns you may have about rent-to-own agreements with no obligation. Send us a message or call Phil Buys Homes Cash at (210) 239-8720.