Many think that rent-to-own property is leasing the property and eventually owning it. However, it does not work that way. This is a process by which a renter leases the property and is given the option to purchase it after a certain period. This is different from the regular rent because the rate you will be paying is higher. However, the portion of your monthly rent will go to your credit which will be used when you finally purchase the property. And, in order to enjoy such option, you will need to pay a fee called option consideration.
Since this is often a small city, my friend probably simply picked up the phone book, so I don’t understand if they did any self-marketing. But if they did, agents one and 2 blew it before they ever got started. From their behavior, anyone would assume that they didn’t even want a listing.
The internet has thousands of options and so do the real estate newsletters. Your Real Estate Agent would also have a number of ideas. It is important to research the market well. Understand the area and consider the climate before opting for something.
___ The offer. Don’t reveal your thoughts on possible negotiations to the agent. Make out your earnest money check to an escrow agent, or the real estate broker if they have an escrow account. Specify what stays with the home, and who will pay for each closing cost. Have contingencies in the offer for any necessary inspections.
Time saving transactions: The modern real estate buyer is hard pressed for time. He wants the transaction to be fast and take up as little time as possible. And he would like you to handle things in such a way that the total time is cut down and he can proceed with other things. So do your homework and be prepared to save time, both his and yours.
So you found the home that meets all your needs, in the community that best fits your lifestyle, at a price you feel is negotiable. The next step is to negotiate a deal. Now, I am not going to get into negotiation, because the price paid for a house depends on many factors such as market value, appraisals, upgrades, local comparable properties, and personal assessment. However, your agent can help you determine an offer that will make both you and the seller happy. Always remember the offer is negotiable, so negotiate! You can always submit multiple offers until accepted.
Speaking of price, no one can do a better job of recommending a good selling price for your home. A real estate agent knows the market like no one else. They will know what price point sells and which one doesn’t. Having this expertise can save you a lot of time and frustration and you aim to unload the property and move on with your life.