Most sellers need want to sell their house outright, but for those who can afford to delay it a little longer, the benefits are very good. Bob Bruss, who was an expert on such purchases, has been quoted in Mortgage Professor that in this market, there are always more buyers than sellers. As a result, buyers generally pay much more than the prevalent rate, perhaps including some assumed future appreciation. Here are some features and benefits for you if you are the landlord/seller and want to sell your house: â€High Sales Price in spite of low demand: More buyers are attracted because of the exclusive financial terms the seller is offering and the value of the house in due course. â€High Rent which is more than usual: As the seller is being flexible in financial conditions already laid down, the rent charged can be higher than usual. â€Non-refundable option reduces risk: When a deal is closed with a tenant/ buyer then they have to pay non-refundable option money to the seller. This amount cannot be refunded to the buyer in any condition. Additionally, no rent amount is refunded if the buyer defaults in between. â€No commissions given to realtors: Since you want to sell your house on rent-to-own basis, thousands of dollars which have to be given to the realtor on a 6% to 10% rate is avoided. Additionally, the house will get sold quickly due to the flexibility in the rent-to-own plan. â€Best Quality Tenants for the House: The tenants who will be interested in the property will be basically quality tenants interested in the house as they have vested interest in the house. They will rather think like they are homeowners and will take good care of the house. Anything untoward will be in their loss in the long run. â€No Maintenance, No Landlording: Tenants who are on rent-to-own basis think more like homeowners and hence they need not be coaxed to pay on time, maintain the house and make improvements to the house. Any carelessness on their part will result in their own loss. â€Tax benefits can be availed: Until the option is exercised, the tax benefits rest with the seller because it is mentioned in the deed. â€Exposure to a huge market of buyers: Not only traditional buyers, but renters and investors will also be interested in the property. They make up most of the people seeking buy properties, more than three-fourth of the interested people. â€No Long Vacancies: Advertising for renting your house would not be needed and notifying the relatives also can do the trick. The phone will be ringing continuously when you announce that the house will kept on rent-to-own basis. â€Peace of Mind: You won’t have to worry about how to take care of the house, your tenants will because they have a vested interest in buying that house. You can sell your house and yet never have to fear of the danger of theft, vandalism, fire, or anything else. For more information, Landlords & Home Sellers visit selling house tips & sell your house fast in today’s market.
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