How Does The Rent To Own Process Work In Philadelphia Area? For Rent By Owner!
The rent to own process is actually pretty simple. Browse our free rent to own listings or real estate for sale:
- Join our property list (houses for rent by owner) and tell us what type of home you’re looking for, your budget, etc (START with the form to the right)
- We’ll send you local Philadelphia area rent to own / lease option homes that fit your criteria for rent to own homes in Philadelphia.
- Rent to own real estate. If you like a home and want to apply, we’ll give you an application to fill out. Don’t worry – we help people with all kinds of credit and financial situations, and if you can afford the property, Jeff Rent To Own can probably help you to own it.
- After you’re approved to rent the property, we’ll agree on a monthly rent amount and the future purchase terms for your rent to own process. Then just sign the rent to own contract and move on in!
- Our houses rent to own. Move in and pay your rent payments on-time… then at the end of the rental agreement you can decide if you want to purchase the home or not.
THERE IS NO OBLIGATION to purchase the houses for rent to own after the rental agreement expires.
How Long Are Rent To Own / Lease Option Terms? Rent To Own Process
With our rent to own houses your lease/option agreement (also known as the rent to own contract) will spell out the length of time that you have to complete the purchase of the property – typically 3 years, but in certain circumstances we may extend your option if you need more time to get your credit or downpayment up to the point where you can qualify for a bank loan under our homes for rent by owner process.
The purchase of your home usually takes place through a traditional mortgage loan, but there are other ways to complete the purchase, depending on your finances.
That’s the house for rent by owner process!
Once you’ve completed your mortgage, you’re done – now you own your home and the rent by owner process is done!