For those positioned to hold the property for an extended time, a rent-to-own agreement can be profitable to sell your property with buyers willing to pay a higher price. A rent-to-own sale earns more because you offer the buyers an opportunity to experience all of the perks of homeownership while repairing any credit issues. Or perhaps they need the time to save for the required percentage the lender requires for their downpayment.
At the end of the agreement, you can set the terms to allow the buyers to walk away or that they will face legal action should they default on the contract. Sellers should contact a real estate lawyer to review their documents and ensure smooth sailing ahead. It’s well worth taking this extra step to avoid legal conflicts over the exact wording of your contract.
Read on as we explore five reasons to consider selling your Fort Myers house via a rent-to-own agreement.
Set Your Price
One reason to consider selling your Fort Myers house via a rent-to-own agreement is the ability to set your sales price at a higher value than the current market. You can name the price because you’re risking setting the price lower than the value in the future, typically two years.
Listing Costs
Selling your house in Fort Myers through a rent-to-own agreement offers a distinct advantage in terms of cost savings. By choosing this method, you can bypass the need to pay commissions or other fees typically associated with listing on the MLS. These fees often include expenses for professional services such as high-quality digital photography and drone videos, as well as the cost of preparing the property for potential buyers. Additionally, sellers often incur expenses for professional staging services to help secure the best possible sales price on the market. By opting for a rent-to-own agreement, you can avoid these costs entirely, potentially saving a significant amount of money in the process.
Another benefit of selling your house via a rent-to-own agreement is the flexibility it offers in terms of timing. Unlike a traditional sale, which may require you to move out quickly once the sale is finalized, a rent-to-own agreement allows you to set a timeline that works best for you. This can be particularly advantageous if you need more time to find a new home or if you want to avoid the stress of having to move on short notice. Additionally, a rent-to-own agreement gives you the opportunity to earn rental income while the sale is pending, providing you with an additional source of revenue during the selling process.
Buying Pool
You increase your buyer pool by selling your Fort Myers house via a rent-to-own agreement beyond the typical buyer on the MLS to include those in the early stages of preparing their credit and increasing their savings towards their goal of owning their own home. Additionally, as societal norms have evolved over the past few years, more and more would-be renters are opting to move towards homeownership; rent-to-own agreements open the door to this untapped potential buyer pool.
Generate Cash Flow
Selling your Fort Myers house via a rent-to-own agreement offers several benefits beyond the initial downpayment. Along with the downpayment, you’ll be earning a higher than average monthly rent, typically including an extra payment towards the downpayment at the end of the contract term. This arrangement not only provides you with a steady income stream but also increases the likelihood of the buyer fulfilling the purchase, as they have a financial stake in the property. Additionally, you won’t be responsible for the expenses of maintenance and repair, as the buyers assume ownership responsibilities outlined in the contract. This can alleviate financial burdens and worries associated with property upkeep, allowing you to focus on other priorities.
Moreover, the rent-to-own agreement offers a potential path to a successful sale while providing immediate financial benefits. The higher monthly rent and additional downpayment contributions accumulate over the lease term, augmenting the total sale price of the property. This can result in a more profitable sale compared to traditional methods. Furthermore, by engaging in a rent-to-own agreement, you may attract buyers who are unable to secure a mortgage immediately but are committed to purchasing your property in the future. This expands your pool of potential buyers and increases the likelihood of a successful sale, ultimately benefiting both parties involved in the agreement.
Faster Sale
The speed at which you can enter into the agreement and start earning cash flow is a great reason to consider selling your Fort Myers house via a rent-to-own agreement. Then, you can take your downpayment straight to the bank without all of the hoopla and fanfare of qualifying for conventional loans that can take weeks or even months before closing.
Let Sell My House Now USA help you learn about selling your Fort Myers house via a rent-to-own agreement. A direct buyer from Sell My House Now USA will detail what you could earn by selling rent-to-own. Let the pros at Sell My House Now USA make it easy! With experts from every walk of the real estate industry, Sell My House Now USA can handle it all! If rent-to-own doesn’t suit your circumstances, our direct buyers will lay out what you’d make with a traditional listing with an agent and then lets you compare this to our offer, which you’ll agree is fair. When you work with Sell My House Now USA to buy or sell real estate directly, we never charge commissions. So why not find out what is in your best interest with absolutely no obligation? Contact Sell My House Now USA at (239) 360-3176.