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5 Things You Should Know About Buying Foreclosures in Snellville Why Rent With Option To Buy Is A Better Deal

Are you in the market to buy low priced distressed properties? There are some things you should know about buying foreclosures in Snellville, Ga

Why Rent With An Option To Buy Is A Better Way To Go For Most Home Buyers.

Kinds of Foreclosures

Let us begin by understanding that foreclosure is a process.

The first step is called pre-foreclosure. This means that a homeowner has defaulted, and the bank has put the homeowner on notice that the delinquency may result in a foreclosure of the property. If the homeowner is not able to make up the delinquency than we can go to a short sale. At this stage the back will give the homeowner time to sell that house for a loss. Not so fast. The is the sole entity that has to approve the sale and may not accept a loss less than the current balance owed. This can result in a very lengthy process of up to many months waiting and waiting only to have the bank reject the offer. If the homeowner is able to affect a sale that is acceptable to the bank then it is better for their credit because it will only show a late payment and not a full on foreclosure. The third step is the foreclosure auction. The bank by this time has gone through the legal process and removed the homeowner from the house and is trying to sell the property to recover their loss. When you go to an auction the preferred acceptable payment is all cash or you may make a deposit, but the total payment is due withing 2-7 days. If you are unable to close that quickly you will lose your deposit. The fourth step is an REO, which stands for real estate owned. If the property does not sell at auction, the bank then repossesses the property and places it on the market for sale.

Highest and Best

You may have to make a higher bid if other foreclosures are selling fast. This means other people are buying up foreclosures quickly, and if you really want to get in on this action, you may have to start off with an offer that is close to, or at asking price. If there are multiple offers, you may have to offer higher than asking price and try to keep the contract contingencies to a minimum if you really want that foreclosure. Remember, location and amenities matter, other foreclosures may be selling quickly if they’re in a great spot.

Prepare Yourself for “As-Is” “Where-Is”

The bank will not likely fix anything wrong with the home. You will be buying the house the way you see it and they will not repair anything. They are selling it to try to make as much money back on their investment as possible. Make sure you include an inspection contingency so you can hire an inspector if you are making an offer on a foreclosure, that way you will know exactly what you are getting into if the bank accepts your offer. Most homeowners think that the final sales price represents a deal but fix up cost can quickly mount up and contractors have a habit of not being reliable.

Funding Your Foreclosure

Most buyers purchase foreclosures in Snellville, Ga with cash because of their frequently “below market” sales price. Cash is also the easiest and fastest closing, so banks often prefer cash buyers. There are a handful of banks that will provide financing for this purchase. They will require an appraisal of the property and this takes time, so if you are up against cash offers, make sure your offer is a competitive one. If the foreclosure doesn’t appraise as high as your offer, you will have to make up the difference.

Additional Costs

Buying foreclosures in Snellville, Ga may come with additional costs above and beyond the purchase price and closing costs. If the owner couldn’t make the mortgage payment, you can probably assume he or she did not pay the real estate property taxes or homeowners association fees if the foreclosure is in a community. You might also become responsible for any utility bills, home equity lines of credit, or other liens on the property. Make sure the title company takes these factors into account when preparing the title commitment.

You will also have to take into consideration the additional cost of making the necessary repairs or cleaning when you buy a foreclosure. There is no cleanup requirement when these properties are seized, and the previous owners might be a little upset about the bank foreclosing on them and take it out on the property. Repairs to the home might also increase the assessed value and raise the taxes.

When You Start Your Homeownership Journey with Rent With Option To Buy There Are 5 Reasons It Will Be Better For Most Home Buyers.

    Low move in cost. Most homes only require 1 month rent and 2 months security. You don’t have to purchase the home for up to 3 – 5 years. This leaves money in your pocket and time to improve your credit and save for strong down payment. You will also have time to shop for the best mortgage possible and buy the house you choose and are already living in.

2)The homes are in move in condition. We work with an equity buyer who will buy the house on the market and if the home needs repairs will make the necessary repairs so that when you move in the house will be in move in condition.

3)You have the option to try it before you buy it

Rent to own homes have a key component which is the option to buy the house. That means you can lease that home for up to 3-5 years and buy it during the time you are leasing. The advantage of that is you will live in the house during the time of the lease get a feel for the house and the neighborhood. If you like the house, then you will go out and get a brand-new mortgage and buy it. If you don’t like the house, then you can simply give the appropriate notice leave the home in good condition and walk away with no further obligation to buy that house.

When you buy a foreclosure home you are stuck with all the headaches that you bought in the house.

4)The homes are in move in condition and in great neighborhoods

Foreclosures tend to be random events. That means you may not be able to find a home in an area you will want to live when you are ready to buy. With rent with option homes you are going to find a home in a great area that you will want to live in. The homes are bought from the real estate markets current inventor so you will typically find a home you will want to live in and eventually own.

5) To get into a rent with option to buy home, in addition to low move in cost you don’t have to have perfect credit. Foreclosures require a lot of cash up front, if you want to finance it you will have to possess near perfect credit. Our homes rent with option to buy you don’t need perfect credit to move in. Then you will have the time to improve your credit and save for a strong down payment to buy the home you are already living in.

You can see from the above that rent to own homes provides a good value to aspiring homeowners. If you would like to find out more about rent to own homes and how this process can be a benefit to you and your family give us a call today 678-478-3861 or visit us on the web

Call Fresh Start Home Sales at 678-337-1165 or send us a message to learn more about buying foreclosures in Snellville .

Fresh Start Home Sales

2330 Scenic Highway

# 300

Snellville, GA 30078


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What To Do With Your Unwanted Inherited Property In Atlanta

A very popular item that is inherited and frequently unwanted is real estate property. When family members or close friends pass on they will their property holdings to their next of kin or people who meant a lot to them. This leaves you the recipient responsible for property upkeep possible landlord duties property taxes and possible homeowners or property owners association fees. What now? You Might Need To Do A Probate First of all the property will most likely have to go through a probate process depending on how it is currently deeded. Check into the local and state laws regarding the inherited property. If you have already completed probate you may have to do an additional probate in the county or state the property is located especially if it differs from where you live in order to have full legal rights to the property. For more information regarding these laws contact Fresh Start Home Sales at 678-337-1165 to discuss potential probate for your unwanted inherited property in Atlanta Georgia. You Could Rent It For A Profit If you inherit a single-family or multi-family residential home and you dont want to live there consider renting out the property. This could be a nice addition to your bottom line. You might have to make a few repairs or upgrades to make it marketable but over a short amount of time it will be a really good investment since you didnt have to make a large purchase to have this extra income stream. You might have inherited this home or multi-family property with renters in place; even better! This will save you the trouble of fixing it up and finding tenants. If you inherit commercial property and you dont own a business or dont plan on starting a business you could also rent this property out! There are plenty of business owners in Atlanta looking for a new place to run their business especially if the property is in a prime location with plenty of traffic. These properties tend to have a pretty nice return. Of course being a landlord isnt everyones cup of tea. There is a lot of responsibility that falls on the landlords shoulders; broken major appliances roof repairs cracking driveways potential structural issues annual taxes homeowner or property owners association fees finding new tenants the list goes on. You Could Sell The Property If you do not want to live in or occupy the property in any way then selling would be another option of what to do with your unwanted inherited property. Please call us at 678-337-1165 to discuss the market value of the property and the possible options of selling your unwanted inherited property. Do a little research to see what similar properties to yours are selling for before calling any real estate buyer or real estate agent. Get a good idea of what fair market value is that way youre not shocked when you hear the price. Keep in mind cash buyers with quick closings will probably offer you a bit less than average market value because they save you a lot of real estate fees and commissions in the long run and will often pay for the closing costs. You Could Give The Property Away Since you didnt buy it and you dont want it you could give the property to a charity or the municipality in which it lies. Contact the future recipient for their donation process. You could also give the property to one of your family members or friends or children. You may still have to go through probate locally in order to take full ownership to donate or give the property as a gift. Give Fresh Start Home Sales a call at 678-337-1165 or send us a message to discuss what to do with your unwanted inherited property. The post What To Do With Your Unwanted Inherited Property In Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales

5 Ways To Quickly Get A Down Payment for Snellville Rent To Own Home You Are Leasing

Finance a home at the end of a Lease Purchase Agreement.

Once you are in your rent with option to buy home there are a few things you should do to be successful. Take the time during your lease to improve your credit and save for a strong down payment.

The next step is to go out and get the very best mortgage you can and buy the house you chose and are now leasing.

How do you get the money together to buy the home? Here are a few ideas.

Low Down Payment Required Mortgages

There are a few programs to help first time home buyers that require a small out of pocket down payment.

The first one we will tell you about is VA home loans programs, backed by the Department of Veterans Affairs. To be eligible for Va home loans you have to have been a member of the armed services and cost guard ended your service with other than honorable discharge.

The next option is a USDA loans, backed by the Department of Agriculture, which may not require any money down on a mortgage at all as long as you meet certain criteria. FHA loans, backed by the Federal Housing Administration, only require at least 3.5% down. Conventional loans, backed by private companies, may only require at least 3% down, but those loans usually rely on good credit. These low down payment options might be a great way to buy the home you are leasing. A big drawback of this strategy is that the lower the down payment is, the more interest you are likely to pay over time which costs you more money in the long run. Additionally, some of these low down payment programs have extra fees associated with them such as large origination fees that are rolled into the payments or required mortgage insurance.

State and Local Down Payment Assistance

Many states have assistance programs to fund down payments for first time home buyers like in Snellville, Ga real estate sponsored by government agencies, nonprofits, foundations, and even some employers. These programs can have a varying degree of geographical focus which can range from the whole state, city, neighborhood, maybe even down to one house. The assistance may come as a grant or a no-interest forgivable loan. These programs are usually partnered with competitive interest rates or tax breaks. Sometimes, homeownership classes are required. One drawback of this strategy is that there might be a purchase price or income restrictions.

Down Payment Gifts or Loans From Family or Friends

One of the most accessible sources of down payments for real estate are gifts or loans from family members or friends. Make sure you write down your payback agreement if you agree to a loan, and pay it back! You do not want to ruin personal relationships over your house! One drawback to using a gift as a down payment for real estate is that it’s not quite as simple as it seems. The person who gave you the money must verify they gave the gift and also prove that they were able to make the gift. If you do have to rely on gifts for the down payment of a house, you might not be prepared for the full cost of homeownership and are statistically likely to default on the loan. Another drawback is if your down payment for Snellville, Ga real estate is a personal loan, that loan must also be calculated into your income to debt ratio to make sure you can still qualify for the loan.

Crowdfunding your Down Payment

There are a few sites that enable you to crowdfund your down payment. There are some sites that work like a registry where contributions to your down payment are funneled into your bank account. This scenario works well for situations like engaged couples or newlyweds. Other sites require you to become prequalified for a loan before they will allow you to raise money for your down payment for Snellville, Ga real estate. Possible drawbacks to this strategy are credit card processing or other fees and the potential inability to shop around for lenders.

Retirement Account Withdrawals or Loans

Depending on your retirement plan, you may be able to withdraw funds or request a loan from your balance for your down payment for Snellville, Ga real estate, but this strategy should be used with discretion. There are a lot of fees surrounding early withdrawal from retirement accounts. Make sure you consult with your account director before choosing this strategy.

Whatever way you choose taking advantage of the opportunity to own a home through rent with option to buy requires a thoughtful plan. First during the lease keep making all your financial payments on time find ways to improve your credit and save as much money as you can. Then explore the financing options that we shared in this blog

For more infomation on home Lease With Option To Buy call Fresh Start Home Sales at 678-337-1165

Fresh Start Home Sales

2330 Scenic Highway

# 300

Snellville, GA 30078


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What You Should Know About Buying A Rent To Own Property In Snellville

Are you in the market to purchase a house but maybe your credit isnt precisely where you require it to be. Perhaps you do not quite have all your down repayment saved. Maybe you would love to test drive a home for a few years before you make the ultimate commitment to buy it. If these situations seem like you then a lease with the option to buy could be an excellent fit. Before you sign any contracts there are some things you need to understand about acquiring a lease to own residential property in Snellville Georgia. What Is A Lease To Own Home? Acquiring a rental with the right to buy a residential property in Snellville merely suggests that it is a lease-option contract with a typical lease as well as a choice to buy the property by the end of the lease period generally three years to five years. The lease-option contract is not to be confused with the lease-purchase agreement where you are required to buy the house at the end of the lease term whether you intend to or otherwise. You pay rent to the existing owner/landlord for the duration of the lease and a section of it might even be used towards the down payment of your home that you are leasing and loving Purchasing The Home You will certainly most likely need to pay an option consideration which is an upfront non-refundable payment for the right or choice to purchase the residential or property in the future. This fee is flexible but is normally between 2.5% and 7% of the total acquisition price. Your lease to own arrangement must specify when as well as how the last purchase price will be determined. Some buyers prefer it agreed to upfront when they authorize the lease with an option to buy. This will certainly help them if the house prices in Snellville surging yet it could additionally be more than the existing market price. Other buyers will opt to figure out the acquisition price at the end of the lease to mirror a price more equivalent to the existing market value. Who Is In Charge Of Taxes and Fixings? The current owner is accountable for any kind of property taxes homeowners association fees and insurance policy. Before you consent to anything make sure the property taxes are paid in full and up to date. When it comes to the lease with an option to buy programs you may be the tenant buyers responsibility to keeping the residential property taxes up to date and spending for fixings. Usually the current proprietor deals with major fixings on the house however you might oversee grass maintenance pool cleansing stress cleaning and so on. Ensure your lease is exceptionally clear on who would certainly oversee things such as huge home appliances architectural repairs as well as routine upkeep. Maintaining the lawn cut is way different than having to change every one of the old pipes. When The Lease Ends When the lease ends you either must purchase the building or you get to choose if you are going to leave the home. Everything depends upon your lease to own contract. If you selected the lease-option agreement it is time to safeguard a new mortgage if you choose to purchase the home. If you are incapable of securing mortgage funding or you do not intend to get the residential property any longer you are not bound to purchase the residential property. On the other hand if you picked the lease-purchase contract you are now obliged to get the property. The proprietor may file a claim against you if you do not think of the funding. As in all residential contracts seem a real estate professional or lawyer to overlook the contracts to make sure your rights and wants are protected. In the end lease with option agreement and lease-purchase agreements are good things when used to acquire property in Snellville Georgia. Give Fresh Start Home Sales a call today at 678-337-1165 or send us a message to discuss these and other things you should know about buying a rent to own property in Snellville Georgia . We can help you decide which property is right for you. Fresh Start Home Sales 2330 Scenic Highway # 300 Snellville GA 30078 678-337-1165 Find us on Social Media START HERE: Local Rent To Own Home List To see available local rent to own and lease purchase homes enter your info below to get started! Name Email Leave your Best Email address to see the homes Desired Zip Code Email This field is for validation purposes and should be left unchanged. The post What You Should Know About Buying A Rent To Own Property In Snellville appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales

Benefits Of Selling A Home Rent To Own In Atlanta, Georgia

Sell Your House Rent To Own

Do you need to sell your house in Atlanta?

There are many options for you to consider, when you have decided to sell your house. Some options are there to save you money. Others may save you time. Selling your house rent to own will allow you access to more buyers, generate income and often you a can make more money than you expected from the sale of your house.

Open Your House To Extra Prospective Buyers In The Market

Selling a house rent to own you reach people who are good prospects but don’t have enough money for the down payment and closing cost for a traditional mortgage, to begin the homeownership process. For those who do not want to wait and who are eager to become homeowners, they will certainly jump at the opportunity for an equally useful rent to own home. When you sell your Atlanta home in this manner, you are opening the door for a variety of new buyers that might not have had the ability to purchase any other way. This provides you extra choices, money in your pocket quicker, as well as the possibility to obtain your asking price without any hassle or long negotiations.

Sell your Atlanta House Rent To Own

Realize More Than You ‘d Expect For The House

Generally, when Selling a House Rent To Own in Atlanta, the seller of the home will get a non-refundable deposit, and a premium rent payment monthly for the property. If the prospective buyer or as we call them tenant- buyers should stop paying rent, they risk losing the residential property in addition to their first down payment … not a place any type of property buyer would certainly want to be in. When making use of a rental with option to buy agreement to market your home in Atlanta, you assume very little risk, while accumulating a greater than ordinary lease payment each month. For sellers that don’t require the entirety of the value of the sale of their house right away, collecting the money monthly with a sale date in the future can be a very flourishing circumstance.

How Will The Seller Get Monthly Income?

Think of collecting rent every single month for your residence in Atlanta. Also think of, accumulating a lot more than the average lease, in addition to a down payment and the nonrefundable deposit the seller gains for the buyer defaulting on the monthly payment. Utilizing a rent with an option agreement to sell your residence fast in Atlanta is an excellent way to create consistent earnings you will certainly obtain for the following several months. Unlike leasing from a common landlord, your prospective buyer is very vested in the residential property and also will likely pay their rent on time, while dealing with any required upkeep. The last point a person with the chance to get an opportunity to buy the house at the end of the lease would certainly not wish to default, shedding money and also lose the down payment and the money invested in the monthly rent payments.

In Conclusion if you are a looking to sell your house for full price plus consider rent to own with an option to buy. You will get a great price with not a lot of downward price pressure because many of the prospective buyers will not have very many other choices to buy other houses because of their current financial situation. Tenant-buyers are willing to pay premium rent and assume the cost of routine maintenance of a house that they hope to be able tp purchase in a year or two. The benefit to the buyer is they will get to live in a house they are not yet qualified to live in. They will have time to improve their credit and save for a strong down payment to buy the house they are living and loving.

Fresh Start Home Sales

2330 Scenic Highway


Snellville, GA 30078


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5 Benefits of Offering Owner Financing To Home Buyers In Atlanta

Offering owner financing is an excellent way to sell your house for the price you want all while making money off of the interest. Learn more in this post! Utilizing owner financing or a rent-to-own agreement is an excellent way for investors and homeowners who want to sell a house quickly and for the price they want. While the home wont be sold outright until the end of the agreement it can be a way to increase what youre making each month while almost guaranteeing a sale on a pre-determined date. Many people dont consider this option when selling their Atlanta house. However if you dont need the entirety of your proceeds upfront selling your house in Atlanta with a rent to own agreement may be right for you! Sell Faster When you use a rent-to-own agreement or offer owner financing to buyers you will open the door for many people to buy your house who may not have been able to before. More potential buyers means that you will be able to get a contract signed much more quickly. You will be able to find potential buyers who are eager and determined to follow through on their end of the transaction.Be sure to do your homework on your prospective borrower. If a traditional bank had turned them down in the part there is likely a reason why. Create Consistent Income By offering owner financing youll be able to bring in a consistent income each month with a lower risk of a late or missed payment. Your tenants are invested in the property and are much less likely to default on their payments when they know they are in it to eventually own the home outright. In most cases you arent going to have to worry about any vacancy during the life up the agreement. A savvy investor may be able to facilitate a few of these agreements on multiple properties thus producing a very strong somewhat passive income for themselves. Get The Price You Want People who are taking advantage of your owner financing offer are going to have less room to negotiate for a lower price. In many cases they are eager to buy especially if they havent been able to in the past. As such you will likely be able to find someone who will pay you exactly what you want for the house even if it does take a little bit of time to collect 100% of your proceeds. Collect More Each Month In addition to getting the overall price you would like to receive for the property your tenant will also likely pay you a higher than average rent payment each month until the agreement has completed and they buy the house outright. In some cases a percentage of the monthly payment will go toward the down payment on the house owners can still find themselves collecting a higher than average check each month. Peace Of Mind When you consider offering owner financing to prospective buyers youll get the peace of mind in knowing that the people moving in are going to take care of the home. If they trash it miss a payment or otherwise violate the agreement they could be out a hefty down payment along with their opportunity to purchase your home. Offering owner financing for your house in Atlanta may feel risky however it is how investors and homeowners all over the country are able to create consistent income while selling a house theyd rather not hold onto for the long term. Our team is happy to answer all of your questions and help you facilitate the process! Reach out to us today to learn more about offering owner financing when trying to sell your house fast in Atlanta ! The post 5 Benefits of Offering Owner Financing To Home Buyers In Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales

6 Tips For Handling All Your Stuff When You Move In Atlanta

Have you lived in a house for too long but you feel stuck because you dont know what to do with all your stuff when you move? We can offer you solutions to make the process less stressful! Knowing what to do with all of your stuff is the most difficult part of downsizing your house in Atlanta . Should you sell your items? Donate them? And how do you decide what you should keep? Saying goodbye to a house youve lived in for a long time may be hard. It can be compounded by having to give up a lot of your stuff too. Below we discuss a few things you can do to take the sting out of downsizing your house in [marlet_city]. Have An Estate Sale When having an estate sale you dont have to move everything to the front lawn that you wish to sell unless you want to that is. Instead people will come into your home making offers on furniture and other items you wish to sell throughout the property. It can be a good idea to strategically place items almost staging them to be presented in their best light. To get the best prices for your items youll want to make sure everything is dusted and thoroughly cleaned up. Dont get too emotionally attached to items you are selling impeding a potential sale. Donate Your Old Belongings If you arent in a pinch for cash rather than selling your items you can donate usable items to someone who could really use them. There are a number of organizations you can reach out to who will help you put your old items to better use. Some of these organizations will even come and pick up your stuff saving you even more work! Clothing furniture and toys can all find great homes elsewhere where they will be highly appreciated. Be sure to keep track of all of the items you donate. Having this number will be a great benefit when its time to pay your taxes at the end of the year. Pass Items Onto Family Do you have kids or grandkids who may be interested in the items found throughout your home? Something that may seem like an ordinary item such as a throw pillow or old book may be looked upon as a family heirloom to a member of your family. If you are downsizing your house in Atlanta check in with your family first to see which items they may be interested in keeping for themselves. It will make you feel good knowing that your everyday items are now bringing joy to members of your family. Take Pictures Of Your Sentimental Items Oftentimes we hang on to so many things out of sentiment that are rarely looked at and instead just end up taking up space. Old childrens art projects napkins from a memorable restaurant and postcard bought while on vacation can all take up a lot of space. By taking photos and keeping them in a digital format you can go look through your memories at any time you wish. You can take your treasured photos anywhere and back them up so they arent lost. This can be a great alternative to many of the miscellaneous odds and ends found throughout your home you may be surprised at how much space this stuff is really taking up! Sell Your House Directly To Fresh Start Home Sales When you sell your house directly to Fresh Start Home Sales you wont have to worry about finding a place for your unwanted items. You will be able to sell your house as-is including all of the items you dont wish to keep. We will handle all of the details finding a place for your belongings so you dont have to worry about them any longer. A direct sale is the easiest way to handle a house you wish to downsize in Atlanta . Hire Someone To Clean-Up You can always hire someone to professionally clean and someone else to haul away all of your junk. It doesnt always make sense if you are attempting to save money so donation selling directly to Fresh Start Home Sales or having an estate sale can all make a bit more sense. There are hauling and just companies that will pick up anything left behind for a nominal fee. When all else fails hiring someone to pick it all up will help you handle all of your old junk fast! Many homeowners in Atlanta are living in a house that is simply too big. Maybe the kids moved out or maybe they were overly ambitious with their home purchase. Either way living in a smaller house in Atlanta can make your life much more simple and easy. Learn more about how to handle all of your stuff when you move in Atlanta ! Contact us today for more information! 678-337-1165 The post 6 Tips For Handling All Your Stuff When You Move In Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales

Business Owners Consider A Home Rent With Exclusive Right To Buy

Do you want to buy a home, but you aren’t quite ready? Perhaps you are not able to save for a strong down payment and closing cost. Maybe a few untimely slow pay invoices caused you to be late on a couple things and your credit took a hit. If so, a lease option may be the opportunity you have been looking for. Learn more about lease option properties and how they can help you reach your homeownership goals!

Your family deserves a nice home in a good area. They stood by you during the lean times and now you want to reward them with a home. Using a lease option, or rent to own with the exclusive right to buy structure will allow you to lease a home your family will love to come home to, with the option to buy or walk away after the lease term is up.

Lease Purchase Agreement

How It Works

The agreement itself is often similar to a rental agreement with an option to buy, also known as a lease purchase with the Exclusive right to buy at the end of the term. That said, there are some key differences to be mindful of, such as your responsibility to make repairs, and a higher than average rent payment each month.

What You Will Have To Do

You will always want to have a thorough pre-inspection of the house completed before signing the lease purchase agreement. This will give you a heads up on any future repairs you will need to make. Some repairs can be costly, which could cause you to hesitate before moving forward. Not so fast, many owners maybe willing to repair those items so try to negotiate those repairs.

You should also have a professional appraisal of the house done. An appraisal is an estimate of the market value of a home from a professional but disinterested party. Their job is to tell you what they believe the home is worth and not match the price to the agreement or make it beneficial either party.

This will ensure that the price the seller is asking is fair and will be approved by a lender in the future. Keep in mind market conditions may shift over the time between you are living there and when you are ready to buy. A supplemental appraisal maybe necessary. You never want to skip an inspection or an appraisal just to get a shot at buying a home.

Also, as mentioned above, you will be the one responsible for repairs as opposed to the owner of the home. It is important to also include in the agreement who will make major repairs, like if a storm causes extensive roof damage for instance. A good idea is to put a ceiling on what you the tenant-buyer are responsible. Paying for maintenance is fair but buying a new roof for a home you don’t own yet seems excessive.

You will also need to pay the property taxes according to some agreements. These extra expenses, plus the typically highere than average rent, can slow you down if you are saving to buy the property in the future. Keep these costs in mind before signing an agreement.

The Benefits

There are several benefits to entering into a lease to own agreement with a local seller. First, you will be able to find and secure a beautiful home you will love before you have the down payment together or before your credit will qualify for a loan. Take the time during the lease to improve your credit and save for a strong down payment. You will also have a locked in price, so if the market goes up over the course of the agreement, you will only need to pay what was agreed in the agreement.

Another great benefit is having the ability to “test drive” the house. You can really get a sense of what it will be like to own, before actually being the owner. You can determine your monthly maintenance and ownership expenses and take a good look at commute times and area schools. You will be able to make sure that the neighborhood is really right for you.

You will also have the peace of mind in knowing that you have the guaranteed option to buy the house. No need to pack all your things up and move at the end of the lease so long as you are able to get the financing you need, as well as the down payment. Your credit should now be fully restored, allowing the buying process to run smoothly for you.

One great trick is to find a property that has been listed for a while and purpose a rent to own agreement. They will not need to lower their price, and you will get the opportunity to buy a house you love.

Last tip pay attention to what is going on in the housing market. If the prices of homes are on the decline you don’t want to be locked into a price higher than the market when its time to exercise the lease purchase agreement and purchase the home.

In Conclusion. Lease with option to buy or rent with the option to buy,maybe a good option for some business owners the information in this blog will be a good guide to use. The writer is not an attorney the blog is for infomation purposes only. Always conduct all real estate transactions with a competent real estate professional representing you.

Fresh Start Home Sales

2330 Scenic Highway

# 300

Snellville, GA 30078


Find us on Social Media

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4 Things You Should Be Aware Of When Selling Via Rent To Own in Atlanta

Selling via rent to own can be an excellent option that many Atlanta homeowners fail to consider. Learn more about how the process works and what benefits you will receive in our latest post! A rent to own agreement can be an excellent way for a Atlanta homeowners to sell their house fast. The financial benefits are very rewarding as is the security of a regular income from the property. That said there are some things a seller should be aware of when using a rent to own agreement to sell a house fast in Atlanta . Keep reading to learn what they are and how you can create a rent to own agreement that will protect your best interest while helping you to sell your house fast in Atlanta ! Handling Default While the odds of your potential buyers defaulting on the agreement is relatively low youll need to know what to do if it happens. Until your potential buyer is able to get a traditional loan and pay off their debt to you the property will still be in your name. Much like a bank if your tenant isnt paying is causing damage to the house or is somehow defying the agreement set in place they are running the risk of foreclosure while you will be able to retain full ownership holding on to the down payment. Creating A Legal Contract A rent to own agreement should be very comprehensive as to protect both the buyer and the seller. It should contain clauses highlighting who is responsible for what important dates and penalties for violation of the agreement. You dont want to leave room for any discrepancy or disagreement between you and your potential buyer. To ensure your agreement is legally binding reach out to a local real estate attorney or call Fresh Start Home Sales to help you facilitate the rent to own process. Finding The Right Tenants Using a rent to own agreement opens up a whole new world of potential buyers. People who couldnt quite qualify for traditional funding due to a low credit score or lack of down payment may be able to meet the qualifications set forth in your agreement. There are many great buyers out there who are being held back due to a blemish on their credit report. The key is to find the buyers of genuine character who will follow through on their obligation to you. Once the right tenants are found you will create a win-win situation for all parties involved. Keep in mind that there is a reason traditional banks had denied them in the past so be sure to do your homework on your potential buyer before entering into an agreement. Being Back Where You Started While it may not happen often you do run the risk of your tenant being unable to buy at the end of the lease term. This means you will still be the owner and can either try to list at this point or enter into another rent to own agreement. While this may seem frustrating you can actually come out ahead from a financial standpoint. Sure you didnt sell the house but you were able to collect a higher than average rent plus a non-refundable down payment for your troubles. Who knows the market may rise dramatically during this time and you may be able to sell for even more than you would have before the agreement! Selling via rent to own in Atlanta can be very beneficial to homeowners looking for a way to quickly make money off of a property they own. Our team can help you understand the risks and the reward so you can make the selling decision that is right for you! Learn more about selling via rent to own by reaching out to our team today! 678-337-1165 The post 4 Things You Should Be Aware Of When Selling Via Rent To Own in Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales

Downsizing Your House Without Any Clean-Up In Atlanta

Do you want to downsize your house in Atlanta without doing any of the cleaning or repair work required when you sell a house the traditional way on the MLS? Learn more about how the easiest way to downsize your house in the Atlanta area. Downsizing a house in Atlanta can feel frustrating sad and burdensome especially if you have been in the home for a long time. People tend to acquire more and more things as the years go on and once you see everything piled up having to deal with it all can be very overwhelming for homeowners. Below we offer a few tips to make the downsizing process as simple as possible when selling your house in Atlanta . Sell Directly To Fresh Start Home Sales When you sell your house directly to Fresh Start Home Sales you wont have to worry about cleaning or any of the junk that you want to leave behind. All you need to do it take the items you are keeping and we will handle the rest. There isnt any extra cost professional cleaning bills or fees to have us haul it all away. You can leave the house as messy as youd like. We will handle everything making the selling process as stress-free as possible for you. We know downsizing may feel hard and we are here to help you with it every step of the way. Let us handle the dirty work so you can focus on making the next chapter the best it can be. Have An Estate Sale An easy way to downsize your house in Atlanta is to have an estate sale. You can pack up what you are keeping store it away and advertise the rest for sale. Price items to sell and you will be able to find people who want to pay you for the items you dont want to deal with. Be sure to market your estate sale far and wide in order to generate the most buzz. Dont overprice your items instead price to sell and remember that the people buying are doing you a favor by helping you to find a solution for all of your stuff that wont fit in your new house. Try not to become too emotionally attached as people begin to buy up your old items. Keep focused and remember the benefits that await you. Donate Your Items Anything you arent able to sell can always be donated to a charity of your choice. Many charities will even pick up your unwanted items at no cost to you. This can definitely beat paying someone to haul it all away. Plus you will be able to provide items to someone who may need them more than you do. Its a win-win situation for everyone involved. Be sure to keep track of your donations so that you are able to write them off at tax time. When you donate your items to a good cause everyone will benefit. Pay Someone To Take Everything Away When you need to get rid of a lot of stuff fast you can always call a company to haul it all away for you. While you may be able to find people to do it free of charge some items may require you to may a professional to come and move. Furniture chemicals and large amounts of trash may require to hire someone to help you. Junk and hauling companies are found all over and will usually take your stuff away for a relatively small fee. Otherwise you can take your stuff to the dump yourself but this will usually also come with a fee. Hire A Pro To Clean-Up If you need to downsize and clean a house in Atlanta you can always resort to hiring the help of a pro. A professional cleaning service or professional organizer will help you to downsize your items making the selling process easier for you. They will take the stress out of the process so you can sell quickly without too much cleanup. You can also hire someone to come to your property and haul everything away. While it will cost some money having someone come haul it all away will make everything much easier for you. All in all downsizing your house doesnt have to be a difficult process. By working with the right people and staying in the right mindset the process can be much less overwhelming then you may think. By having people assist you with the process there will be less cleaning and less time spent on the selling process. Our team can help you downsize any property. We will make the process easy and stress-free so you can quickly move on and into a smaller house! Ready to downsize your house in Atlanta ? Let us help you avoid the repairs and the cleaning! Contact us today for more information! 678-337-1165 The post Downsizing Your House Without Any Clean-Up In Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales