It’s not uncommon to see Craigslist ads that tell you how you can own a home with just a small payment upfront and then “earn your way” into a home over time.
There are a few names for that…but “rent to own”, “lease to own” and “lease purchase” are the most common.
If you are thinking about looking for a rent to own home in Widefield, the first question you may have is how to go about finding free listings in WIdefield, CO to see if you can find a house that may be right for you.
If you’re not sure about what a rent to own house is, or the process, keep reading this article and check out our website
Be sure to check out our FAQ section
The rent to own option is great for anyone who is struggling to qualify for a home mortgage because of credit issues and/or lack of money for a downpayment. It benefits both the buyer and seller because the former gets to move into a dream home quickly while the latter gets long term payments and is able to sell the house to a broader pool of potential “tenant buyers” because the credit and cash isn’t as much of an issue.
Find the right rent to own home listings in Widefield can be time-consuming and challenging, so what we suggest is that you do your research and get on a few lists that can show you the local rent to own houses available in and around the Widefield area.
Places you can find these lists of available Widefield rent to own houses…..
On this website: Our company, Swift Results, is a local real estate investment firm that buys and sells houses. Frequently, we do this on a rent to own basis. So you can join our Local Rent To Own Property List here You’ll get email alerts anytime a new property is available, which means that you’ll be among the first to see the property BEFORE we list them on the website. More than half of our rent to own homes never even make it to the website because they get snapped up by people on our list.
- Local Real Estate Agents. Do your homework and find some reputable Colorado Springs real estate agents and ask if they have any rent to own homes available. Agents tend to stay away from rent to own houses, but some do offer them or may know about them.
- Craigslist. (www.craigslist.org) This can be a solid source of rent to own/lease to own option houses in the Widefield area….as well as the entire state for that matter. We sometimes list a property or two on there from time to time. However, if you go this route, make sure that the person advertising the house really is authorized to rent it to you. In recent years, there have been scammers who have taken advantage of people responding to these ads on Craigslist, so just make sure that you are working with a house seller that you can verify is legitimate. Using the tax assessor’s site to verify names and addresses of property owners is one way you can do this.
A Bit More Info About Renting To Own A Widefield House
Tougher lending standards and a declining buyer market are pushing sellers of houses in Widefield to do more to help potential home buyers get into houses even though they can’t qualify for a mortgage.
The way our rent to own agreements work is, you, as the buyer, are given a chance to rent the property for a given period of time with an option to buy the house sometime in the future….usually two years from the date of the agreement……at a price which has been agreed upon upfront.
This gives you enough time to evaluate the neighborhoods, the house, and to improve your financial situation before making the decision to purchase the home.
We love working with rent to own tenant/buyers because we get a tenant who has a long term vested interest in the property as well as a consistent rental payment, while the tenant/buyer has the time to improve credit and save for a downpayment.
As with anything, there are pros and cons to renting to own a house….which you can read about on this website and in other articles. It’s very important that you fully understand the pitfalls which come with this form of home ownership, along with the huge benefits that we can offer with our local rent to own/lease to own house program.
So, what are you waiting for?
Now that you know how to go about finding rent to own home listings, it’s time to start finding houses that fit what you are looking for.
If you want to see what Widefield Rent To Own Homes we have available, go here
If you have any questions about the process, or just want to chat about your situation to see if we can help you, give us a call at 719-548-4755.
We’re here for you and look forward to working with you!