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The rent-to-own market segment of the real estate industry is not particularly regulated, nor are these transactions carefully tracked. However, a number of horror stories have made their way into the headlines. Most pertain to landlords who took advantage of low-income or unsuspecting renters by structuring the agreements to make tenants responsible for maintenance and repairs, but not disclosing to the renters that the homes were riddled with code violations.
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Committed to giving our clients great real estate options, we only hire highly knowledgeable and friendly realtors who are ready to discuss all the ins and outs of every property you are interested in. Our agents are licensed professionals who take the time to know you and recommend homes that fit your standards. Speaking of homes, we offer great deals to help you comfortably settle into a property you like.
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If you think this is just like renting, you are wrong. The problem with renting is you are paying a monthly fee without having anything to show for it after the fact. Imagine living in that place for years and years! You are potentially paying thousands of dollars for the years to come. With rent to own homes, your money goes towards ownership. Meaning, it is just like renting but working towards actually owning the property yourself instead of throwing your hard earned money down the drain.

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While you're renting your home, you can take steps to clean up your credit. This will take time, but it is possible to raise your credit score enough that you'll qualify for good mortgage rates. You can catch up on any delinquent payments, pay down your balances, consolidate debts, stay current on everything, and use any credit cards you have responsibly.
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Traditionally, there are two different types of RTO options. Each strategy has its advantages and disadvantages, as well as reasons why sellers opt to do RTO for their properties. As long as a seller owns the home outright, they can choose to use the RTO strategy to sell the property. This includes condominiums, townhouses, single-family homes, and multi-family homes.
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Q: It has been almost a year since the short sale of our previous home. We don't believe we will be able to qualify for a mortgage for a while yet. Do Realtors assist buyers in finding a situation where we could rent a home for a period of time (say, a year), with the intention of purchasing it at the end of that time period? Or is that not really something Realtors do?
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If your property has a pool, your pool key will be located in the kitchen drawer unless your property was purchased from a foreclosure or short sale. If a pool key is missing, you will need to contact the HOA for one. Your HOA packet should be sent to you via email. If you didn’t get one from your agent, please contact the office. If the HOA charges you for a pool key, you may deduct that from your first month’s rent.
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Search all the latest Rent to Own Homes in Las Vegas, NV. There are more than 856 rent to own homes currently on the market. Try out homes and neighborhoods without the buying commitment by choosing a rent to own property. It’s a simple process with the homeowner, you start out as a renter, and then purchase the property when you're financially ready to apply for a home loan with a local bank. The rent-to-own process allows new home buyers with poor credit scores, or who lacks the down-payment required by the bank, the opportunity to live in their home while working on improving their credit and saving funds.
The first website on our list is getrenttoown.com. With this site, you simply put in your desired zip code and click search. It'll show you houses that are for sale because of foreclosure, owner financed, pre-foreclosures, auctions, for sale by owner, and RTO. Once you sign up for the site, you'll get access to contact information, information about the listing, area demographics, and a property summary. The site also has an RTO buyer's guide, overviews, and resources.
It’s normally not necessary to commission a home inspection on a traditional home rental, but remember that rent-to-own is not a traditional home rental. This is a short- and long-term investment that requires the utmost attention to detail. And the small upfront cost of a home inspection could save you literally thousands down the road. Therefore, hire an independent home inspection professional to uncover any problems the house may potentially have. It’s important to do this even if the current homeowner furnishes a disclosure statement that attests to the condition of the home. If the independent home inspector points out problems, it’s important to determine whether or not the issues will prevent you from getting a future home loan once the rent-to-own term ends. Therefore, make sure the contract specifies who is responsible for making the necessary repairs discovered during the inspection prior to finalizing the rent-to-own agreement. The homeowner might offer a credit off the final purchase price at the end of the rent-to-own in lieu of payment for damages. Either way, be sure to get everything in writing before finalizing a rent-to-own contract.
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