| If you know anything about Michigan's economy, you | | | | wasting money on rent, you get an option to |
| know that it hasn't been doing well for years, and | | | | purchase a home that you like. |
| may continue to languish. Lease option real estate in | | | | Even if you can't get a conventional bank loan, and |
| Fenton, MI is a strategy that is working very well in | | | | have bruised or damaged credit, you can purchase a |
| today's economy whether you are a seller or a | | | | home on a rent to own basis and stop wasting |
| buyer. | | | | money on rent making a landlord rich. |
| Fenton is a city in Michigan, situated in Genesee | | | | Part of your monthly rent goes toward "rent credits." |
| County. The population is north of 10,000 and may | | | | This is money that is set aside and goes toward the |
| be significantly higher than that by now since that | | | | purchase price of the home if you exercise the |
| number reflects a census that is 7 years old. | | | | option to buy it. For example, if you are paying |
| If you are a motivated home seller or want to | | | | $1,200 a month on the home, $200 dollars of that |
| purchase a home, you should understand the lease to | | | | might be allotted toward the rent credit, which |
| buy real estate in Fenton, MI....because it has | | | | means you are effectively building equity when you |
| advantages for both the buyer and seller alike. | | | | buy the home. |
| First, a lease option is also called a rent to own, so | | | | Although there are other benefits too numerous to |
| understand that these terms mean the same thing. | | | | list here, another one is that you get to "test drive" |
| Some Advantages of Lease Option Real Estate in | | | | the home before you buy it. This is because if you |
| Fenton, MI | | | | set up the lease option real estate in Fenton, MI |
| Are you being downsized? Job loss? Being | | | | contract the right way, you have the option but not |
| transferred out of state? Paying two mortgages and | | | | obligation to buy the home. |
| can't afford both of them? Simply can't afford to | | | | So, if your option is for 24 months, you can live in |
| make your mortgage payments anymore? If you've | | | | the home for 24 months and if it turns out you don't |
| tried but can't sell your home with a real estate | | | | like it, or the neighborhood, you can choose to not |
| agent, then the lease option may be just the thing | | | | buy the home. |
| you need. | | | | This really gives you a lot of flexibility and control. |
| Putting a tenant-buyer into your home will alleviate | | | | It's little wonder the lease to buy real estate in |
| you of the monthly mortgage payments, and allow | | | | Fenton, MI is becoming one of the most popular |
| you to sell your home for much closer to fair market | | | | ways to sell and buy houses here. |
| value than you'll get listing it with a real estate agent | | | | As real estate investors in Michigan, we are teamed |
| in a slow economy. | | | | up with experts who have structured and |
| Why is this? | | | | implemented countless lease options in this state in |
| Simply because your typical tenant buyers for rent | | | | the past few years, and can assist you whether you |
| to owns will not have the necessary down payment | | | | need to sell your home or buy one on a lease option. |
| or credit score to qualify for a traditional bank loan. | | | | If the transaction is not set up properly, what is a |
| This means that many of them will be willing to pay | | | | potentially good thing for both parties can end up to |
| closer to the true value (appraised value) of your | | | | be a nightmare. So make sure you do it right, or |
| home than other people who can get bank financing. | | | | seek the assitance of real estate investors who can |
| It also means you can get good market rents during | | | | help put it together for you. |
| the option period. | | | | We also have credit repair programs so that if you |
| Advantages for Lease to Buy Real Estate in Fenton, | | | | want t rent to own, you will be able to vastly |
| MI | | | | increase the chances of you being able to get that |
| The advantages for the buyer are also numerous. | | | | bank loan you need to buy that lease option home |
| First, you get a shot at home ownership. Rather than | | | | during the option term. |