There are numerous reasons why homeowners are choosing to sell their homes via rent to own. Many people overlook it, but there can be a ton of benefits to selling this way. Learn more about what to expect and the selling process in our latest post!
Selling your house via rent to own has a number of benefits and perks, especially during difficult times. For homeowners who want to sell, but are worried about the market, worried they will get a low-ball offer or are worried that they won’t be able to find qualified buyers, using a rent to own agreement can be highly beneficial.
Get What You Want
When you use a rent to own agreement to sell your house in Chicago, you will likely be able to get your asking price. People buying in this way are looking for the opportunity to buy, they aren’t in a place to negotiate with you on the cost. While it might take a year or two to be paid in full, selling in this manner will help to ensure you aren’t taking a loss on the home. You will be able to get your asking price, without having to deal with negotiations as you have the upper hand.
When listing your house on the MLS, it could end up sitting on the market for months. In fact, the listing could expire and you could find yourself back at square one. When you sell your house via a rent to own agreement, you will likely be able to find a buyer much more quickly. You will have a whole new audience of prospective buyers, many of whom are eager to buy your house right away. You’ll be able to sell faster, move into a better-suited home, and get the peace of mind you need!
When you sell your house via rent to own in Chicago, there are many benefits you will receive. One of those is protection and security. If your buyers fail to meet their end of the obligation, the contract will be voided and you will retain ownership of your house. If they made a down payment, this is typically yours to keep, not to mention the extra rental income you received each month.
While you will be back at square one with the sale of your home, you will have made some money and be further ahead financially. You then have the option to sell to another rent to own buyer to make some more money or sell it outright on the MLS. Most buyers will follow through, but in the rare case they don’t, you will still come out ahead. When selling your house in Chicago via rent to own, you don’t have anything to lose!
More Potential Buyers
There are lots of people out there who want to buy a home. Some lack the down payment while others don’t have a high enough credit score to qualify for a traditional loan. When you sell your house via a rent to own agreement, you will not only attract traditional home buyers but a whole other pool of people who believe they weren’t qualified to buy.
By opening your house to this whole other group of people, you will be able to sell your house faster and for more money. People buying houses via a rent to own in Chicago don’t want to lose their deposit or the opportunity to buy. This can be an excellent group of people to sell your home to.
End The Holding Costs
Owning a house you don’t want can be expensive. Paying the utility bills, mortgage, and repair costs can feel like a struggle each month. It can be very frustrating to pay these bills but the good news is that you will no longer have to. By selling your house via a rent to own agreement in Chicago, you will be able to quickly find buyers who will take over the utility payments and the maintenance costs. Plus, they will be paying you a “rent” payment each month that should more than cover your mortgage!
Do you need to sell your house in Chicago? Using a rent to own agreement can be the most beneficial way for you to sell! At Chicago Home Buyers, we can help you set up an agreement that will help you sell your house, make money, and get the peace of mind you need.
You won’t have to live in the house longer than you need to and you will be able to generate a substantial monthly income that can pay for you to live somewhere else. To learn more about using a rent to own agreement to sell your house in Chicago, reach out to our team today!