Rent to Own Edmonton- How to Choose a Reputable Rent-to-Own Real Estate Specialist

Many problems with rent-to-own contracts can be prevented by hiring only a reputable, professional representative for these transactions. Many real estate agents may not be interested in the rent-to-own market. Prospective rent to own Edmonton tenants need to be sure they have the best team working on their side.

Reputable rent-to-own companies meet with clients to review their application with a mortgage broker. This helps determine from the outset how much a client can afford in terms of contracted purchase price. They are also able to talk with the customer about what credit and income issues must be resolved in order to obtain a mortgage. Rent to own Edmonton does not place clients in homes for which they do not qualify.

The reputable rent-to-own company or agent will thoroughly review all current information from the buyer and help set up a program to repair credit before the end of the rent-to-own contract. They can determine the best length for the contract to make sure buyers are ready and able to get a mortgage at the end of the term.

Rent-to-own customers should get advice from an experienced real estate attorney throughout the rent-to-own process. Rent to own Edmonton suggests retaining a local attorney who is familiar with local laws and regulations pertaining to the contract process.

Customers need experts on their team to negotiate contract terms and construct a contract that is beneficial and obtainable. There are various types of rent-to-own options available and understanding these is a large part of the rent-to-own agent’s job. Many agents are also the owners of the homes on the rent-to-own market. This makes them even more interested in ensuring the process goes smoothly, and that tenants are able to purchase their home at the end of the contract.

Let Rent to Own Edmonton help make a difference

Rent to own Edmonton specialists analyze their customers’ situations before any contracting occurs. Many people could qualify for a traditional mortgage if they had help to navigate the various assistance programs and types of loans available. Sometimes credit repair is needed, or down payment assistance programs might be available to certain buyers. The market is extremely complex, making the services of an expert worth every penny.

Rent-to-own programs are worthless if the tenant cannot purchase the home at the end of the contract. Companies that fail to help their tenants quickly achieve these goals get labelled as fraudulent. They lose business through word of mouth. It is in everyone’s best interest that the rent-to-own contract and transaction are achievable for the customer. The contract must be managed in the most professional manner possible to ensure tenant success.

The rent to own Edmonton process involves negotiating with a home seller for both a sale and a lease at the same time. It will be several years before the rent-to-own contract ends and the sale finalizes. Only an experienced and knowledgeable agent can protect buyers in this tricky market. Rent to own Edmonton works full time in this industry and understands the complexities of the marketplace.

Rent-to-own purchasers should utilize a licensed real estate broker throughout the process. If the worst happens, it is nearly impossible to get compensation for losses of deposits, down payments, and rent credits from an unlicensed person. A specialist helps customers avoid frauds and scammers, and helps tenants protect their investment.

There are many rent to own companies out there the trick is to make sure you are picking the right one.  Here at rent to own Edmonton we are committed to giving you the best advice and the best service.  Our goal is to make sure that everyone that goes through our rent to own program is able to achieve their dream of becoming a homeowner, that is OUR dream here at rent to own Edmonton!

Send us in an APPLICATION TODAY!

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5 Benefits of the Rent to Own Edmonton Program?

There are many benefits to taking part in the  rent to own Edmonton program. Below we have laid out our 5 main benefits to getting enrolled in the rent to own Edmonton program today!

1)      Stop paying wasted rent money to a landlord-

One of the biggest benefits of  joining the rent to own Edmonton program  is that you are no longer wasting your hard earned money paying off someone else’s mortgage.  You are starting to build up equity and preparing for the future day when you will own your own home.

2) No Surprise’s at the end of the lease period-

The great thing about the rent to own Edmonton program is that you already know exactly how much you will be paying at the end of the lease period. This amount has already been set and agreed upon in your option agreement so there will be NO surprises or increases in your purchase price.   Set your future purchase price from the start so you know exactly what your payment will be at the end of the lease period

 3)      A Lower initial deposit is required to get started-

A lot of people get into a rent to own because they don’t have enough of a down payment saved up to be able to go into a bank and qualify for a traditional mortgage. The great thing about a Rent to own deal is that you are able to get started towards becoming a home owner with a much lower deposit, and we will provide you a with a savings plan that will make sure that you reach the amount needed to qualify with a bank at the end of your lease period.

4)      Great way for self-employed people, and business owners to get started on home ownership without satisfying banks on your proof of income-

A lot of self-employed people have a hard time qualify at a bank for a mortgage, especially if it is a newly started business. The reason for this is because most banks require two years of tax records running your business to prove to them that you make a good enough income to cover your payments.  Obviously if you have only been in business for a year then this can be a huge roadblock in becoming a home owner.  This is where a rent to own deal can come to rescue, because with most rent to own deals you don’t have to prove two years of income in order to qualify.  This can give you the chance to become a home owner while you continue on working towards your business.

5)      Qualify with Less than Perfect Credit

Let’s face it sometimes in life things happen that we can’t plan for, and sometimes these things can have a negative impact on our credit.  The great thing about the rent to own Edmonton program is it is a great solution for people who have poor credit and need a little help and a little bit of time to rebuild and re-establish their credit up to a level that will allow them to qualify for a traditional mortgage with a bank.  With the help of a credit specialist and a mortgage broker you will be able to dramatically improve your credit over the course of the lease period.  Rent-to-own Edmonton provides significant assistance to their tenants when it is time to get the traditional mortgage. They have developed great relationships with mortgage lenders familiar with the rent-to-own markets.

These are just some of the benefits as to why going through rent to own edmonton can be a great resource to help you achieve your dream of being a homeowner.  To take one step closer to realizing your dream of being a homeowner CLICK HERE to fill out an application.

Check out our other site www.realationshipinvesting.com

Rent to Own Edmonton- What is a Rent-to-Own home?

Rent to own houses in Edmonton are simply homes where a portion of the rent and the up-front deposit are credited to the down payment for purchase of the house in the future. These contracts are also called lease-to-buy or leases with the opportunity to purchase homes.

The rent to own Edmonton homes concept assumes the tenant intends to purchase the property at the end of the rental term, and that they will be able to obtain a traditional mortgage to do so. It is assumed renters will renovate and upgrade the home as if they already own it, although most companies retain the right to approve such changes in advance.

Rent to own programs usually examine the applicant’s credit scores and income prior to initiating a contract. The program may enroll the applicant in a credit repair program, to assist them with qualifying for a traditional mortgage. Some programs make such repair programs mandatory as part of the rent to own contract.

The rent to own Edmonton program allows applicants with poor credit histories, hard to verify income or other barriers to traditional mortgages to begin the purchase process immediately. They provide what amounts to “forced savings,” by applying part of the monthly rent to the amount needed for down payment. In addition, the up-front down payment or deposit goes toward the down payment when the renter applies for a mortgage.

Rent to own contracts include a set price for the property. This price will not change during the term of the contract. The tenant purchases the right to buy the home later for this property price. In the meantime, the lien holder or owner of the property must continue to pay the mortgage and taxes on the home. Tenants in rent-to-own properties provide their own insurance on the property.

Down payments for rent to own Edmonton properties may be as low as $10,000. Monthly rents are higher than market value for the property since the payments include “rent credits” to be used toward the eventual purchase of the home.

Important things to remember for Rent to Own Edmonton homes!

In the event a tenant decides not to purchase the home at the end of the rent to own term, they often lose their up-front money as well as the rent credits paid during the lease. Successful rent to own buyers must be certain they are entering into a contract for the right home in the right location. Applicants must show they can make the monthly rent payments. An applicant with both poor credit and no income is not a good candidate for a rent to own contract.

Renters must be sure they will be able to fix the issues barring them from obtaining a mortgage during the term of the lease contract. If they cannot get a mortgage for the home at the end of the contract, they lose the home and their cash investment. For this reason, rent to own companies might enroll renters in credit repair courses or have them meet regularly with credit counsellors to ensure they are on track.

Rent to own Edmonton companies work with clients up front to determine what credit issues need to be fixed, and how long it will take to fix them. A contract should be customized to allow the renter adequate time to address the problem issues, so a successful sale can be completed at the end of the contract. The company will ensure the home and the renter are a good match and that the renter will likely be able to purchase the home on schedule.

Visit this page for EVEN more information on frequently asked questions about the Rent to Own Edmonton program.

Or get started today towards your dream of becoming a homeowner and fill out an APPLICATION right now!