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Heather Thram
Rick Thram
Christina Meyer

Friday, July 22, 2016

Our Rent-to-Own Advantages Offered in Prior Lake

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Today I wanted to address some questions about rent-to-own homes and contract-on-deed situations.

Should you rent-to-own or buy on contract-on-deed? Traditionally speaking, it's been difficult because there has been no pure method for doing it; you'd have to find a property that the seller has enough equity in to sell on a contract for deed, or you'd have to sell contract for deed into a secondary market, which is not well-established.

Rent-to-own is a great alternative to conventional financing.

Currently we have exclusive programs for people to purchase properties on a rent-to-own basis with as little as two months of the rental price as the down payment. It's actually an option contract, so if they live in the property during the first year of rental and find that they don't want to purchase it, they're not required to purchase it. The benefit of these programs is that you can capture a predetermined price on the new home that you're interested in at today's market rates.

So if there is an increase in the market like the one we've seen in the Prior Lake real estate market in the last few years, you can lock in a price at today's prices, plus an accelerator that's within a reasonable appreciation rate. At the same time, it allows for you to get your home in a solid position even though you might not be able to finance in conventional terms right now. You can choose just about any home that's on the market for a traditional sale and buy it as a rent-to-own.

If this a program you're interested in, click here for more info [link] or give us a call. We'd love to be able to help you!

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