New York, New York

With all the glitz and glam of New York and Manhattan, people sometimes forget about the people behind the scenes making things happen. These are your store owners, restaurateurs, public servants, and especially real estate agents.

As a real estate agency our focus is helping our clients gain a competitive edge on the real estate market and make smart buying and selling decisions. Whether you’re looking for a storefront new Times Square, or a condo in Upper Manhattan, we can help you maximize your buying power.

Before you run off to the first broker you find, contact us and let us help you make a smart purchase, sale, or lease decision on your next property.

Truly,

J.T. Menmacker

Handling Rent-to-Own Homes with a Realtor

Handling Rent-to-Own Homes with a Realtor – An Overall Win-Win Strategy

As your own real estate agent may tell you, rent-to-own homes have become quite a trend in recent years. But what are they really, and could they potentially represent a viable option for those in difficulty of finding a buyer or seller for a specific home?
What Are Rent-to-Own Homes?
As the name suggests, a rent-to-own home is a piece of property rented to an interested buyer who ends up paying rent for a fixed period before actually buying the home.
Basically, people who have already moved to another home and are unable to sell their old property – thus being stuck with both mortgages and various other expenses associated with both homes – often decide to strike this deal with an interested buyer, establishing a rental period of anything from one to three years before selling the property.
In most cases, it is preferred to seek out the expertise of an experienced Realtor in order to figure out exactly what you need to do before the deal can be validated and before you can get the most out of it.
The Advantages of These Deals
Any real estate agency can say that a rent-to-own home is a good option. The question is what makes it such an advantageous deal, and will it really be enough to help you through a difficult period? Here are a few of the main benefits of rent-to-own homes for both sellers and renters/buyers:

  •  First of all, in an economy that doesn’t always favor real estate sales, it can be a viable option for sellers to seek out this option, as it provides them both with a steady stream of funds for managing their expenses and the prospect of eventually getting rid of the mortgage on their old home.
  • The offer itself is usually very flexible, and most sellers will be open to negotiation, since all the extra money they can get over the rental period will be an advantage.
  • Rent-to-own homes allow even buyers who don’t have enough credit points to end up being capable of getting a new home purchase.
  • Once the deal is completed, price fluctuations are out of the question, as the sale price of the house becomes locked for the full period of the agreement. This level of stability is usually preferred both by sellers and buyers.

In order to get the most out of your rent-to-own home sale or purchase, the best course of action is to hire a reliable real estate agent who has successfully handled these types of deals in the past and can guide you through the negotiations and the paperwork required for making everything work without a problem.

If you are thinking about doing a rent-to-own deal for your first home, or want to use this structure to sell your home, then call us now! We can walk you through the entire process and ensure you are making the best decision possible.

J.T. Menmacker