front of house

3 bedroom 2 bath, 2077  sqft with a great Open Floor Plan! This home is move in ready and features large bedrooms and a huge bonus room at the back of the home that could be featured as an extra family room or possible 4th Bedroom. Enjoy the large fenced yard and 2 large sheds for all of your storage needs. The home has a newer roof, upgraded stainless steel appliances, inside utility room and many other features you need for a perfect home. There is no home owner association also in this neighborhood. Lease to own details: Purchase Price $225,000; Minimum down payment: $10,500; Monthly Rent: $1,800, Length of lease option 2 years.

Rental  and Features

  • Address: 1210 Monterey Way, Lakeland, FL 33805
  • Purchase Price: $225,000
  • Minimum Down Payment: $10,500
  • Monthly Rent: $1800
  • Type: Single Family
  • Cooling: Central
  • Heating: Forced air

 

Rent to Own Form

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It means you can rent the property while you build your credit in order to buy the property.

Rent to Own:

Purchase price: 210k
Minimum Downpayment: 10,500
Rent per month: 1800
Period: 2 years

This means you need to make the down-payment of 10,500 out of the purchase price of 210k. You can then move into the property and pay a rent of $1800 a month. Anytime within the next 2 years, you can purchase the property by paying the remaining $199,500. You can choose when the purchase happens. It could happen in the first month or the 23rd month. It’s up to you! It usually depends on how long it takes for you to build your credit and get a mortgage.

This would be great news for you! Regardless of how much the value of the property increases, your purchase price will remain the same :)

All the benefits of appreciation go to you. The projected increase in the value of your property is 7% over the next one year alone. This means you are building 7% equity even before you purchase the property.

You are not responsible for taxes and insurance payments while you are renting. The landlord is responsible for them. You only have to pay rent.

Once you purchase the property, you will be responsible for the taxes and insurance.

As the future owner of the property, you will be responsible for the upkeep of the property.

Any amount that you pay above $1200 a month will be credited towards reducing your purchase price.

2 years.

No. You don’t have to pay any commissions at closing (which are normally thousands of dollars!). You just have to pay the costs towards the closing and the origination of your loan (if you choose to get one).

You will have to restart the process.

Almost everybody. But it’s an excellent fit for somebody who wants to buy a property today but is not able to get a loan. With this option, you can build equity in the property while you improve your credit. You can purchase the property anytime within the next 2 years as soon as you are able to get a loan.

  1. Appreciation is all yours – Regardless of the increase in the price of the property, your purchase price remains fixed. Any appreciation in the value of the property goes to you!
  2. Pride of Home-ownership – You experience the pride of home ownership from the first day even though you haven’t purchased the property.
  3. No tax or insurance payments until you buy – Until you make the purchase, you are not responsible for any taxes or insurance payments.