Have you ever considered using a rent to own agreement to sell your house in Lynchburg? 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 Lynchburg, 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 Lynchburg house for the highest price possible
Get Your Asking Price
Sellers are taking a risk in working with buyers with less than perfect credit. You also risk home values jumping far beyond current expectations. Because you are offering a benefit that is otherwise unattainable to these buyers, you can set the asking price at the potential value the property could have in the future as your sales price now. On the other hand, you’ll come out ahead if home values drop because the sales price is predetermined. Because there is far higher demand than supply of homes available through a rent-to-own deal, providing this opportunity will help sell your Lynchburg house to eager buyers for the highest price possible.
Potential Buyers
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 Lynchburg house for the highest price possible.
Protection
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 Lynchburg house with a rent-to-own agreement for the highest price possible.
Linken Investments makes it easy! At Linken Investments, 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 Linken Investments LLC. can help guide you through setting up a rent-to-own agreement. Our goal at Linken Investments LLC. is to help you sell your Lynchburg house for the highest price possible. The professionals at Linken Investments LLC. 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 Linken Investments LLC. at 434-390-2906.
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Linken Investments, Lynchburg’s Trusted Home Buyer
Linken Investments LLC. is a local real estate solutions company based out of Lynchburg, VA. We are Lynchburg’s Trusted Cash Home Buyers. We have been buying houses for cash in the Lynchburg area since 2005. Our years of experience are one reason clients trust Linken Investments to complete the sale of their property quickly with honesty and integrity. We’re a family-owned business and focus on helping homeowners like you find solutions to your problem whether you’re going through a foreclosure, selling an inherited property, or just need to sell your house fast for any reason. Linken Investments offers you the chance to sell your home in a simple, stress-free, cash transaction.
Linken Investments can buy your home exactly as it is, no repairs or cleaning needed, and we pay all cash and close fast, in as little as 7 days or when it works for you. Plus, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your house and get on with the next chapter in your life.
It won’t cost you any money and only about an hour of your time to find out how much cash we’ll pay you for your house. And you’ll be under no obligation to accept our offer, so you have nothing to lose but a house that’s standing between you and the life you want to enjoy.
Give us a call or text anytime 434-390-2906 or fill out the short form here today!