Selling your house in Orange County? Contingencies are common in traditional real estate sales, serving more often than not to protect the buyer in the transaction; therefore, you should be aware that you can negotiate with your buyer over these contingencies before signing the contract. Should the specified aspects of the contingency fail to meet the guidelines within a given timeline, the buyer may walk away or choose to renegotiate.
The contingencies buyers may add to a contract are limitless, but some are widely known and have become a standard in home sales.
While the terms of contingencies are in the process of being met, you as the seller may continue to consider other offers but cannot enter into a second contract. Regrettably, deals that fall apart over contingencies add to the number of days your home is on the market, and this often equates to a lower final sales price on a home.
We will explore what you need to know about contingencies before selling your house in Orange County.
The most common contingencies before selling your house in Orange County have to do with the inspection. Unfortunately, for many homeowners who doubt the soundness of the structure or significant systems in the home but want to sell their home, the inspection is often the cause of many sleepless nights. In addition, if an inspector detects an issue during the inspection, your buyer may ask for credit towards the repairs or request the repairs be made before closing if they don’t back out of the deal altogether. One way to avoid the fearful anticipation of the outcome is to hire an inspector before listing the property. Though it may not be pretty, having a realistic picture can help you decide the best course of action for selling your home.
Your buyer may add an appraisal contingency to the contract if the home’s value is in question. Should your home appraise for less than the offer, the buyer may back out, or you may attempt to renegotiate before selling your house in Orange County.
Sale of Current Home
Before selling your house in Orange County, you should know that buyers may come to the table with an offer contingent upon selling their current home, which is a great deal to ask, especially when your bills will keep rolling in each month until yours closes. Therefore, if you consider their offer, you’ll want to learn more about where they are in the process of their sale and how close their closing date is.
You can expect a contingency based on your buyer’s financing approval before selling your house in Orange County unless you received a cash offer. Therefore, pre-screening for preapproved buyers can help avoid the letdown of a lost deal. However, even when preapproved, the process of attaining a mortgage loan can be time-consuming so consider the costs of owning your property during the waiting period as you weigh these types of offers against others.
Rather than a traditional sale, a direct sale of your home to Pellego can help eliminate all contingencies. Pellego makes selling your house in Orange County easy with straightforward contracts. The professionals at Pellego will lay out the details of our offer to compare how much you would earn through a traditional listing vs. a direct sale. At Pellego, will make you an offer you agree is fair is for your home, as-is. Selling directly to Pellego means you could have your cash in hand in a matter of days, or we can wait till you’re ready to move; just let us know the date you want to close. Contact Pellego at (949) 625-4533 today!
Hosting guests in your investment property via an online booking platform as a way to earn additional cash flow has become a new business model for savvy investors who understand how to utilize technology to their advantage. Accessing this service provides you as a host with the ability to create a free listing of your property at the rate you desire and opens you to a potential pool of guests worldwide. Once you have successfully booked your guests and they’ve checked in, your payment will process to you from Airbnb; you will want to review the site for complete details.
Then, once you're ready to begin, check out these five tips to help you Airbnb your house in Orange County if you're not exactly sure where to get started.
Before buying property, if you plan to Airbnb your house in Orange County, you must check the laws governing vacation rentals for your specific location. In some areas, you must register, get a permit or obtain a license to host guests. In addition, depending on the area of Orange County your house is in, you may also be responsible for occupancy taxes, and the program will add these charges to the booking in some cases. Finally, there may be caps on the number of days a guest may occupy an Airbnb.
While your current cash flow from the property is essential, real estate investors must still consider the long-term value. Narrowing in on the right location will help you Airbnb your house in Orange County. You should buy the least expensive property that meets your needs, in the best area, you can afford within your budget. Locations near business centers, shopping, and public transportation are highly sought, as are Airbnb houses located near tourist attractions. It is essential to consider what you would look for in a vacation rental and buy properties with amenities that you would seek.
Performing due diligence and carefully inspecting the property will help ensure you buy the right property when you Airbnb your house in Orange County. You must get what you pay for, and unless you have a strong background in construction, you need a team of pros to quickly assess potential investments and provide reliable estimates for any repairs. The repair timeline is essential, as time is money, and holding costs can slowly nibble away your bottom line.
Running the numbers on your investment will help you project the profits when you Airbnb your house in Orange County. You’ll need to run the numbers on the rental rates, occupancy rates, and expenses attached to owning the property. It is crucial that you quickly review the data and determine the potential profitability of the house as an Airbnb rental. Real estate investing is a numbers game, so take the time to research the Airbnb market carefully, so you know the differences in the key metrics in this niche of real estate investing.
Let the experienced pros at Pellego help you Airbnb your house in Orange County. Pellego makes it easy to be a success in your investment business! Vacation rentals have transformed, and it pays to be where people are looking for Airbnb options in Orange County. With plenty of purchasing options in Orange County, Pellego has a steady inventory of the best Airbnb properties available. So let us help you crunch the numbers and get started on the road to Airbnb hosting. If you’re not looking forward to wearing the hat of a host, Pellego can manage as much or as little of your property as you like. To learn how Pellego can help you, contact us today at (949) 625-4533.
Owning a home -- it's part of the American Dream!
Home ownership gives a sense of freedom, security, and permanence.
Americans dream of growing up, finding a home, and starting a family; they dream of owning their own piece of land and proudly knowing "it's mine." Millions of families want a nice home, a white picket fence, a place to rest after a hard day of work, and a place to raise their families.
It's no wonder that pioneers and settlers came to America to escape the over-crowded rental slums of the Old World and to tame and claim their piece of this vast land. Even today, newcomers to America are attracted here in part because of the opportunities for a better future -- which includes owning their own home.
While home ownership continues to be a high priority among many Americans, the American Dream is evolving. There's still plenty of land and places to live, but it's evolving for other reasons:
Although these might not be ideal circumstances, this is the reality we live with. As a result, two things are happening:
This creativity has led to a new opportunity for people to buy houses even when they may not be able to apply for traditional loans. And that's how the American Dream is evolving: people still want to own homes (and can!) but there are new ways of buying those homes...
In a traditional house purchase: the buyer goes to a bank, pays a down payment, and gets a mortgage loan for the remainder of the amount owed on the house they're buying.
In a rent to own agreement: the buyer who may not have perfect credit works directly with the house seller -- to rent a house for a period of time while they build up their credit so they can quality for a mortgage loan.
This works well for everyone!
Just imagine: if you're someone who wants to own a home but you can't get a traditional bank mortgage right now, you might have thought that living in a permanent home was years away. Well it doesn't have to be: you can get into your permanent home now, enjoy the sense of ownership right away, PLUS you'll have a stable address (which can help to contribute to a higher credit score).
In a rent to own agreement, a buyer would move into a home, paying rent, and building credit towards a down payment to ultimately purchase the home. This is a valuable option for families who may not have the necessary credit score to get a traditional mortgage.
The price varies widely, depending on a number of factors, and each rent to own arrangement will be governed by the details described in the agreement. But in general, this is what you'd be looking at...
First, you'll pay a regular rental amount (just as you would if you were renting anywhere). This amount goes towards the rent and upkeep of the property, just like a regular rental.
Second, the costs of rent to own housing in Orange County may be higher in some areas... but for a very good reason. In some cases, rent to own rental amounts may be slightly higher versus rental rates you get elsewhere, and this is influenced by a few things -- such as the neighborhood the house is in, the condition of the property, the length of the rental period before purchase, etc.
As well, there's the lease option portion of the agreement, which allows you to buy the house at the end of the rental term. This is built into the cost of rent and, in some cases, a portion of your monthly rent will be applied to a down payment on the home. (Check with the landlord because this is not always the case).
Example: You rent a house for $1,000 even though other houses in the area rent for $900. This extra $100, though, is applied to your down payment and accumulates month by month for 3 years until you are ready to purchase the house.
Important: these vary from one rent to own seller to the next, so make sure you talk to the seller about how the costs of rent to own housing in Orange County when you're looking to buy.
While it's possible that in some cases you may pay slightly more to rent to own a home each month, the savings in the long term could be significant. This is because many sellers will set a predetermined price on the house, locking in protection against housing market fluctuations.
Example: You’ve agreed to rent-to-own a home for three years, before exercising your option to purchase. You come to an agreement with the seller on a price at the end of that term of $200,000. Let’s say that at the end of your rental term, the housing market becomes extremely competitive and surrounding homes are selling for $300,000. As a buyer, you’ll be saving $100,000 on the cost of your new home simply by renting to own and locking in the price.
Rent to own -- it's a great new way that families are getting their own piece of the American Dream even when circumstances have prevented them from doing so in the past.
Savvy real estate investors understand that flexibility with your investment strategy is the key to success. If you’re considering selling your land, it‘s entirely understandable that you are hesitant to sell an investment you believed would be yours for many years. However, life has a way of happening to us, and many factors can influence our economy, changing our immediate goals.
In addition, dreams sometimes evolve into newer and better versions. As a result, it may be time right now to change the exit strategy you had planned for your land investments. Read on as we discuss a few of the reasons that could make right now the best time to sell your land in Orange County.
If you consider selling your land in the next several years, it might be time to jump into the market. The conditions seen in real estate today are strong, and this may be a significant indicator that it is time for you to strike while the iron is hot and sell your land in Orange County now. A direct fire like those from Pellego will be happy to detail what your property is worth on the market and let you compare it to our offer, which you will agree is fair.
Perhaps circumstances have changed for you, and there is an urgent need; you could sell your land in Orange County and alleviate your financial burdens. Working with a direct buyer like those at Pellego relieves stress, we use simple contracts with no hoops to jump through, and your guaranteed closing could be in as few as seven days.
If you are spending money to maintain ownership of your land and do not realize any monthly income from the property, and you’re tired of taking the loss, you can sell your land in Orange County and stop draining the funds from your account. A direct buyer like those at Pellego will be happy to answer any questions or concerns you have about the process with absolutely no obligation.
If your reasons for investing in the land changed along the way and never came to fruition, or you simply want to cash in on the investment, it may be time to sell your land in Orange County. You will walk away from the closing with cash in hand when you sell to a direct buyer like those at Pellego.
By taking advantage of the like-kind exchange tax laws, you may be able to sell your land in Orange County and use the proceeds to invest in your new dream and avoid paying capital gains. Furthermore, by working with a direct buyer like those from Pellego, you will have access to a study inventory of the best investment land available to sell your land in Orange County, so you can bring about each of your new goals. And don’t forget to ask about our current inventory of the best land available in Orange County to begin achieving your new ambitions today.
Why not let a professional like the direct buyers at Pellego help you sell your land in Orange County?
Pellego is dedicated to open communication and taking the time to listen. Whatever hurdles you are facing, our experienced direct buyers at Pellego can help you find the right solution for your situation. Pellego makes it quick and easy to sell your land in Orange County with our full-service team. Pellego can even help manage your investments so you can relax and enjoy your retirement while earning truly passive income. Let Pellego help you with the next step in your investment plans. Contact Pellego at (949) 625-4533 today!
When you’re ready to sell, thoughts of what is wrong with your house, the desire to sell your home for a higher price may motivate you to make the repairs on your own to save money. Remember too, when you are selling, the disclosure form awaits, and you will need to advise the new owners of all of the work or face possible legal and financial consequences down the road. So if you’d like to avoid what could be a costly mistake and potentially life-threatening situations, it may be worth hiring a professional to get the job done right.
Additionally, should something go wrong, your insurance company might not cover the damage should you make the repairs yourself or hire a local handyperson. Therefore, before any work proceeds, it’s essential to review your policy and consider the value of hiring a professional and having a paper trail for your insurance adjuster.
Read on to discover four major repairs to avoid when selling your house in Orange County.
While changing a light switch may be perfectly safe, when done correctly, significant electrical issues are top on our list of repairs to avoid when selling your house in Orange County for good reason; it’s one of the most dangerous and could cost someone their life. In addition, the slightest error in the installment could potentially cause a fire.
Besides the common issues with drain clogs, you should avoid plumbing repairs when selling your house in Orange County. Not only is there a severe threat of damage to your home from a newly formed fountain spewing out of your kitchen pipes or upstairs plumbing soaking through the ceiling, but you’ll also end up paying the plumber to repair the damage. Not only that, you’ll still need the original plumbing problem resolved.
Without exception, you should hire a professional to make any foundation repairs when selling your house in Orange County because the foundation upon which the home sits is integral to the structural stability of the building. A mistake in making a foundation repair could take months or years to finally reveal itself, usually when it’s much too late to make a simple fix. While it may appear to be just a tiny crack to you, the eyes of an expert are always required, along with specialized equipment and processes to protect your home from extreme damage.
While it may appear to be a simple matter of hammering in a few shingles, you shouldn’t attempt roofing repairs when selling your house in Orange County. Regrettably, it is easy to make simple mistakes working on a roof that can cause heavy structural damage or cause leaks. Often homeowners will attempt to buy leak-stopping miracles at a local hardware store and delay proper repairs, which only adds to the final expense of getting the job done right. Unfortunately, without the appropriate equipment and no knowledge of proper safety protocol, many homeowners have fallen and been seriously injured in accidents while undertaking roof repairs.
Selling directly to Pellego can help you avoid repairs altogether when selling your house in Orange County!
Pellego saves you time; why wait out the repair process before you sell? At Pellego, we guarantee our closing date, which can be in a matter of a few days or weeks.
Pellego saves you money, there is no need to worry about the repairs, we buy houses as-is and pay cash. Pellego will make you an offer you’ll agree is fair, detailing what you would profit if you have the repairs made so that you can compare which best suits your circumstances. Contact Pellego at (949) 625-4533 today!
Your efforts towards growing your real estate portfolio allow you to live life on your terms in your golden years through passive income. Multi-family properties provide an excellent opportunity towards this end; however, single-family homes and multi-family properties are two entirely different ball games. Just as with the profits, so too are the cost of mistakes multiplied by the number of units; for this reason, you must educate yourself thoroughly.
Read on to learn more about what investors need to know about buying multi-family properties in Orange County.
Winning Formula
Real estate investing is about the numbers, and there are specific mathematical formulas investors need to know before buying multi-family properties in Orange County to hold a winning hand. You’ll need to familiarize yourself with these tried and true equations that have brought wealth to many Orange County investors just like you. Your cap rate and net operating income are the only numbers you need to determine if the property is a good value for your investment dollar on paper. Naturally, the property manager should be more than forthcoming with all required records to run your calculations. Working with a professional investor like those at Pellego will help you make successful investments.
Due Diligence
However, now is not the time to skip steps; hire a professional for an inspection and an environmental assessment of the site before buying multi-family properties in Orange County. You should also review a market survey for the property. Investors should personally inspect the property as well and conduct a thorough walk-through of each unit. If you cannot do so, you need someone to represent your interests. You can count on experienced professional investors like those at Pellego and their team of industry pros to protect your real estate investment portfolio.
Money Matters
Buying multi-family properties in Orange County can save investors money. The number of units in a specific multi-family property can significantly affect your financing, as lenders consider a business investment; therefore, the property’s financial potential is the basis for any loan. Let’s face it; it makes portfolio growth much simpler when you only need to go through the lending process once for several units. There are also tax benefits specific to multi-family properties; depending on the number of units, you can live in one of the units to eliminate your housing expenses. Finally, while having a vacant single-family home can make a significant dent in your monthly cash flow, having several units producing income from one investment can lessen the blow when there is a vacancy.
Scaling
Investors also save time and money by buying multi-family properties in Orange County because of shared expenses spread across the units, such as all being under one roof, which is also time-saving with one repair fixing many units. You also save time and cut expenses because you only need to work with one manager for several tenants. Multi-family properties also have the bonus of additional cash flow streams, such as soda machines, laundry facilities, and the like. Finally, professional investors like those at Pellego make owning multi-family properties easy, with a full-service team that can handle it all.
If you’re looking for real estate investments to diversify and grow your portfolio, Pellego has the information investors need to know about buying multi-family properties in Orange County. At Pellego, we take the time to listen to your goals, and we have the team to make your investment dreams come true. In addition, the professional investors at Pellego are happy to answer any questions you may have or help you with any concerns, with absolutely no obligation. Contact Pellego at (949) 625-4533 today to learn more!
Your real estate investment business and your properties care are crucial to you, making hiring a property manager feel much like rolling the dice with your future. Just as you should meet your potential tenants in person as part of your screening process to ensure the best experience, you should interview your potential property manager and ask questions about the types of properties they’ve previously managed.
Researching their background for yourself can also serve to help you make the right decision. Great property managers are worth their weight in gold; to get recommendations you can rely on, start asking around among your network of fellow property investors. In addition, it can be helpful to have a checklist to guide you to the best property manager. For example, here are five signs to look for in a great Orange County property manager.
Experience is one sign of a great Orange County property manager. Over years of working with vendors who provide maintenance, repairs, and other service providers for properties, an experienced property manager brings along a team of the most qualified professionals to care for your property. In addition, an experienced property manager should have systems in place that will keep them organized despite the multitasking required to keep on top of maintenance problems and marketing screening and eviction of troublesome tenants, scheduling vendors, and bookkeeping duties.
A professional manager understands that whatever happens to your property ultimately falls onto their head. Therefore, professionals don’t procrastinate; they tackle trouble head-on and stay proactive in their management style, understanding that avoiding issues before they become emergencies is most efficient. Professionals also tend to think long-term and set goalposts to mark achievements with a forward-looking frame of mind.
Professionalism also requires patience when things aren’t going right with tenants, vendors, or any number of stressful situations that can arise when managing property. A true pro remains cool under the worst of circumstances and emergencies. Property managers who are quick on their feet and can find creative solutions while always keeping the best interest of your investment in mind are a sure sign of a great Orange County property manager.
Let’s face it; it is always better to work smart, not hard, and utilizing the latest advances in technology helps you stay competitive and shows you have hired a great Orange County property manager. In addition, property managers who take the initiative to educate themselves further in their profession, including remaining tech-savvy in an ever-evolving world of apps, can benefit you significantly.
Last but not least of importance, the ability to communicate well is a vital sign of a great Orange County property manager. A top-notch property manager wants the return on your investment to be the highest possible. Towards that end, they will keep an eye on market trends, upcoming zoning changes, or plans for Orange County growth to keep you updated on the most current information, serving to improve your bottom line further. In addition, tenants tend to be happier overall when your property manager has good communication skills, which equates to lower vacancy rates and turnovers, which is financially beneficial.
Pellego has a highly experienced team that displays all of the signs of great Orange County property managers. Pellego values your tenants and will work day and night to meet their needs. We treat your investments as if they were our very own at Pellego; we listen to your management goals. At Pellego, our reputation in the industry proves we are the cream of the property management crop; our professionals do what it takes to rise above the rest. Contact Pellego at (949) 625-4533 today!
Looking for the best tax tips when selling your property in Orange County? Look no further. Nobody likes to find out they missed a chance to save potentially thousands of dollars while diversifying your portfolio. If you’re selling your property, it is well worth your while to follow a system to organize your business paperwork. You should always work with a tax professional experienced with investment properties and put in the work required to take advantage of the tax benefits available when you file your return.
To ensure you keep everything you’re entitled to by law, and realize the most in savings on your taxes, take a moment to examine these five tax tips for property sellers in Orange County.
Our first tax tip for sellers in Orange County is special savings accounts for real estate investors. These accounts help you save money when you sell. As a result, you may defer the taxes or have zero tax liability. These individual retirement accounts or IRAs include 1031 exchanges, health savings accounts, Solo 401k, and self-directed IRA accounts. So while there are plenty of rules and regulations, you can grow your real estate investment portfolio while enjoying more of the returns on your investments.
When you sell an investment and make a profit, this is known as capital gains, which brings us to our next tax tip for property sellers in Orange County. Using the exemption for capital gains, you could pay no gains tax on the sale. The amount of capital gains on the property is dependent on the time you’ve owned the property and your filing status. Current law requires living in the property as the owner two of the last five years and have owned the property 24 months to realize savings in taxes. You can use the exemption once every two years. There are limits on these exemptions. You must stay on top of current laws and work with a professional to avoid errors and realize the best savings.
You can deduct the costs involved in selling your property. Among the allowable expenses for homeowners are deductions for your property taxes and any interest paid on your mortgage debt. Check current tax laws for the current limits on these deductions. Be sure to follow guidelines in determining if your expenditure is for routine maintenance or a repair, while both are deductible. They are treated differently in the tax laws. Improvements required for the sale of the home may be deductible. Watch your timing on this expense. Carefully tracking expenses will help with this tax tip for property sellers in Orange County, allowable deductions.
Our tax tip regarding passive income for property sellers in Orange County is to take advantage of the passive income deduction; in other words, you don’t physically work to earn this income. In addition, under specific rules, the pass-through deduction allows you to deduct 20 percent of business income.
Property sellers in Orange County can deduct depreciation, which is the loss of value to the structure over time. So naturally, the IRS has a checklist for this deduction that filers must meet as well.
The experienced professionals at Pellego work full time to keep on top of any changes that affect property sellers in Orange County. In addition, at Pellego, let us show you how these tax tips add up to help provide the best income for the properties we manage. And if you’re you looking for an investment property? Pellego has a steady inventory available.
Why not find out how we can help you build your investment portfolio in Orange County? We’re happy to answer any questions with no obligation. Contact Pellego at (949) 625-4533 today!
While not the typical investment that comes to mind, the benefits of the short-term rental property sector of the market merit further investigation. Investors are wise to continually educate themselves on market news, keeping their business riding on top of the wave of real estate investing, with an eye towards the future.
Societal changes created more desirability for the unique features of short-term rentals brings a result, this transformation has come to the attention of investors.
We’ll explore five things you should know about investing in Orange County short-term rental property.
The growth of technology within real estate and consumers who are savvy in using online apps, making it easy to find a property that suits their needs for their visit perfectly, has combined to create a growing trend in Orange County short-term rental property. The industry is multiplying as vacationers and visitors of today have come to expect a more private and home-like atmosphere than noisy hotels packed full of guests. Moreover, guests appreciate the special touches that make the stay more personal, often becoming return visitors.
Due to the nature of more desirable times of year in Orange County short-term rental property, or even more desirable days, like weekends, the general wear and tear effects are lessened by fewer actual occupied days. Turnover costs can be expensive and time-consuming on more long-term rentals, creating a more extended downtime with a vacant unit. Prepping for new tenants typically includes deep cleaning and painting. However, the work required often goes beyond repainting; tenants can add a great deal of wear to a unit in a year that they’ve settled into over a more extended period.
While occupied for a lower actual number of days, the rental rate for a Orange County short-term rental property is much higher per day and more than makes up for the difference in days occupied. In addition, landlords can adjust rates for holidays and other high-demand days on the calendar. You can also require minimum stays, which ensures your bottom line, even if the occupants don’t need the unit for that length of time. As a bonus, you can block off a limited number of prime days per year for yourself, being sure to follow the tax guidelines for vacation investment properties.
Risk management is as important as due diligence when you set out to plan your real estate investment strategy. By spreading your investments across many areas of real estate, you build a safety net to protect your income. As an emerging sector in Orange County, short-term rental properties offer a fantastic opportunity for diversifying your real estate portfolio. The potential tenants for these properties are as diverse as the properties themselves. In addition, there is a wide range of price points among properties suitable for short-term rentals, making it an excellent way for new investors to get started.
Owning Orange County short-term rental property is attractive because it offers the benefits of tax deductions for operating expenses. So naturally, costs for maintaining and refurbishing an investment property are also deductible. Be sure that you keep excellent records and receipts in an orderly fashion. Hiring a property manager and owning your investment business as an LLC carries significant advantages. As always, you have to play by the rules of the tax guidelines, but the work is well worth the effort to improve your income for your rental property.
The pros at Pellego are ready to help you with your Orange County short-term rental property needs. Pellego has properties available and offers management services; we make investing easy. Contact Pellego today at (949) 625-4533.
Renting to own a home in Orange County, or any city for that matter, isn't a new concept... but the whole process of "renting to own a house" is a process that most people have questions about.
Well, you're in the right place!
This article will walk you through what to look for if you're looking for Orange County rent to own houses.
A lot of people who are deciding whether they should just rent or "rent to own" look at the whole rent to own / lease option process in the wrong way. Don't look at it like you're looking for a house to rent for a little bit. Of course, you should find a house that is one you'd love to live in for a longer period of time (no less than 5 years).
Why?
Because with rental houses, you know it's a temporary thing... so you'll settle for a house that is less than ideal.
But since you're really looking to get a house to live in for years and years with a rent to own... it should be one that you can see your family in for years.
Yes, you're renting a "rent to own" house... but you should choose a house you'd be glad to live in for years just in case you do exercise the purchase option at the end of the lease term.
Not all rent to own houses in Orange County have the same contract that goes with them. So make sure to find out the terms of the rental agreement and the terms of the purchase option as well. Usually, the monthly rent tends to be a bit higher with a rent to own agreement vs. a normal rental agreement... because you're basically paying a premium for the ability to potentially purchase that house at a pre-determined price in the future. There's a lot of value in that.
But with rent to own agreements, you should also have some flexibility that protects you. Make sure there are no fees for not exercising the purchase option at the end of the agreement.
Also, clarify with the owner of the house on who will pay for things during the rental term like...
Get it all in writing who's in charge of these kinds of things during the rental term.
One of the big benefits of a Orange County rent to own home is the ability to lock in a home at a set price well in advance of you having to purchase it.
With a rent to own house contract, you agree on a monthly rental rate... a term of that rental (usually 12-24 months)... and a purchase price at a future date.
Because of this the purchase price usually doesn't come at a discount for you... but, if you buy in the right Orange County California neighborhood (one that is increasing in value)... you could be earning instant equity if you decide to purchase the home at the end of your rental term.
If you still have questions about the rent to own process just call us anytime at (949) 625-4533.
And if you want to be put on our local Orange County Rent To Own Home List click the link below to see what's available.
