-
• single story - 
MLS® $1,150 USD Monthly
Idlewood Crossing, Lithonia
Property information
-
Idlewood Crossing, Lithonia - Announcing a rent/lease reduction on 5961 Idlewood Place, a single story. Now MLS® $1,150 USD Monthly - .
Property information
-
Meadow Brook Ridge, Snellville - Announcing a rent/lease reduction on 3197 Pate Creek View, a 2,076 sq. ft., 2 bath, 4 bdrm 2 story. Now MLS® $1,250 USD Monthly - The Price Is Right!.
Property information
-
A lease-to-own house purchase (also "rent-to-own purchase" or "lease purchase") is a lease combined with an option to purchase the property within a specified period, usually 3 years or less, at an agreed-upon price. The borrower pays an option fee, 1% to 5% of the price, which is credited to the purchase price. The borrower pays rent, and an additional rent premium that is also credited to the purchase price. If the purchase option is not exercised, the buyer loses both the option fee and the rent premium. As with any kind of financial contract, lease-purchase deals can be structured in such a way that all the benefits flow to one of the parties and none to the other. Buyers especially need to be careful. But lease-purchase plans have a solid economic rationale, which means that they can be structured so that both parties benefit. Contract Features of a Lease-Purchase A lease-purchase has 5 major provisions. The sale price of the house and the rent are market-determined, yet subject to negotiation just as in a straight purchase or rental transaction. Buyers often know less about the market than sellers, which places buyers at a disadvantage unless they do some homework, which is advisable. Buyers generally prefer a long option period because it provides more time to build equity and repair credit. A long period can boomerang on them, however, if they are never able to exercise the option, since they lose the rent premium they have been paying all the while, in addition to the option fee. Sellers generally prefer a short option period, but if it is too short, the house won’t be sold. The option fee and rent premium are viewed differently by buyers and sellers. To the buyer, they are part of the equity in the house they will soon own. Fully anticipating that they will exercise the option, the only cost is the interest they would otherwise have earned. To sellers, however, these payments are the best guarantee that their houses will sell; if they don’t sell, the payments are retained as income. That the benefit to the seller generally exceeds the cost to the buyer makes the lease-to-own deal a possible win-win. Using a Lease-Purchase to Buy The lease-purchase offers homeownership opportunities to consumers with little cash and/or poor credit, who are prepared to bet on themselves. The bet is that before the option period expires, they will qualify for the mortgage they need to exercise the purchase option. During the option period, they have the opportunity to rebuild their credit and accumulate equity while living in the house. The development of the sub-prime market, in which consumers with poor credit or no cash can obtain loans, does not seem to have lessened interest in lease-purchase. It is very likely that those who succeed in exercising their option under a lease-purchase do better than if they had financed a conventional purchase in the sub-prime market. The savings in finance costs will more than offset a higher price on the house. But those who can’t exercise their option will lose their bets. Consumers who need to rebuild their credit rating during the option period should understand that paying their rent on time won’t do it. Rent payment information is not used in compiling credit scores. While Fair Isaac, the company that developed credit scoring, has recently unveiled an “expansion” score based on “non-traditional credit data,” it does not yet include rent payment information from individual home owners. Lease-purchase buyers who need a higher credit score must focus on their credit cards and loans. Even though it is costly, the right not to exercise the option is of value to buyers. If there is something seriously wrong with the house, neighborhood, or neighbors, the money left behind on a lease-purchase is much smaller than the cost of an outright purchase followed by a sale. Dangers to Buyers On October 2, 2005, Bob Mahlburg, an investigative reporter for the Sarasota Herald-Tribune, published an article on a substantial lease-to-own program in Florida that had generated numerous complaints. Over a 5-year period hundreds of deals were executed under this program but only a handful of purchases. In fact, there were more evictions than purchases. The contract used in this program made it all too easy for the seller to avoid having to sell when it was more profitable to evict the tenant and do another deal with another hopeful buyer. The moral: read the contract very carefully to make sure you are confident you can live up to all the terms, such as paying your rent on time, every time. Using a Lease-Purchase to Sell Most home sellers want a cash sale, but for those prepared to hang on to the property awhile longer, the benefits can be compelling. Stephanie Jester, an expert’s expert on lease-purchases, says that in this market, there are always more buyers than sellers – She has been both. As a result, buyers generally pay top dollar, perhaps including some assumed future appreciation. To be sure, the deal may fall through, but in that case the seller gets to pocket the option fee and rent premium. The seller also enjoys the tax deduction on his mortgage interest payments during the option period.
-
Ashley Meadows, Covington - Announcing a rent/lease reduction on 280 Sunflower Lane, a 3 bath, 5 bdrm 2 1/2 story "Traditional". Now $1,300 USD Monthly - Price For Your Budget.
Property information
-
Gorgeous Home For Rent
• 2 bath, 4 bdrm 2 story "Traditional" - $1,600 USD Monthly - Priced to rent
Walden Woods, Stockbridge - Gorgeous three sided brick home located in Stockbridge Georgia. Four bedrooms and two and half baths, dining room, living room, family room with fireplace, large eat in kitchen with pantry, large master bedroom with vaulted ceiling and large master bathroom with his/her closets and vaulted ceiling, wall to wall carpet, upstairs laundry room and oversize backyard with privacy fence.
Property information
-
Walden Woods, Stockbridge - Announcing a rent/lease reduction on 305 Teakwood Terrace, a 2 bath, 4 bdrm 2 story "Traditional". Now $1,600 USD Monthly - Priced to rent.
Property information
-
Miller Woods, Decatur - Announcing a rent/lease reduction on 5162 Millerwood Trl, a 3 bath, 5 bdrm single story. Now $1,600 USD Monthly - Gorgeous Home for Rent.
Property information
-
• 1,600 sq. ft., 2 bath, 2 bdrm townhouse - $850 USD Monthly - Priced To Rent
Southlake Townhomes, Morrow - Excellent townhouse located in Morrow GA, minutes from Southlake Mall, Costco, Banks, Sams Club, grocery stores your favorite resturants and much more.....
Also, convenient to 75S , 675, Atlanta airport, Clayton State College and downtown Atlanta
All appliance included, wall to wall carpet and breakfast bar that separate the kitchen from the dinning area
Property information
-
Southlake Townhomes, Morrow - Announcing a rent/lease reduction on 7228 April Court, a 1,600 sq. ft., 2 bath, 2 bdrm townhouse. Now $850 USD Monthly - Priced To Rent.
Property information
-
Eagles Crest, McDonough - Announcing a rent/lease reduction on 313 Chase Marion Way, a 2 bath, 3 bdrm single story. Now MLS® $1,250 USD Monthly - Move-In Ready.
Property information
-
We offer a 100% commission to all real estate agents. If you are looking for a company that offer free training and mentoring classes. Join INTouch Properties agents for one of our free training. Contact Stephanie Jester,Broker with INTouch Properties at (404)379-4808.
-
We offer free real estate training to agents that are interest in taking their business to the next level in 2008. We will customize the training base on your needs. Contact Stephanie Jester, Broker with INTouch Properties for a schedule of upcoming training.
-
Looking to purchase a home this is a great opportunity to find foreclosure and hud homes at a good price. The market is full of good deals.
-
• 1,400 sq. ft., 2 bath, 3 bdrm townhouse - $1,000 USD Monthly - Excellent Condition
allidian, Lithonia - Nice three bedrooms and two and half baths located in Lithonia GA. Walking distance to Marta bus line and hwy 20 east and west. Convenient to your local groceries stories and restaurants.
The deposit is equal to the first month rent.
Property information