Grand Rapids is one of Michigan's most major cities, only surpassed by Detroit and Lansing in economic importance.
Because of its many recreational activities, economic activity, and close proximity to Lake Michigan, rent to own grand rapids Michigan is one of the most preferred methods for homeowners to sell their properties and also a great way for buyers to purchase a home in this exciting city.
When looking for Grand Rapids Michigan rent to own properties you may come across ads, whether through a Realtor or a FSBO, that state “lease purchase Grand Rapids Michigan" or “lease option. "
A lease purchase and lease option are just different ways to saying rent to own. The only difference between a lease purchase Grand Rapids Michigan and a lease option is that the lease purchase obligates the tenant-buyer to purchase the property when the option term expires, whereas a lease option gives the tenant-buyer a right to exercise the option and purchase, but does not require him or her to do so.
Grand rapids is one of Michigan's most popular places for rent to own. This is not surprising since potential buyers find it an appealing place to live - with all of its quaint restaurants, golf courses, history, and, of course, beautiful Lake Michigan for boating and fishing. Also, not squandering money on rent without building up any equity increases the allure of a lease purchase agreement.
Sometimes investors, like us here at Buy-Sell-Michigan-Real-Estate.com, help facilitate a lease purchase in Grand Rapids Michigan.
Well through our networking and advertising, we locate motivated sellers who are open to doing a rent to own. If the numbers work. . . meaning if the home they are selling is in the right price range, and the monthly payments are reasonable, we then have the seller sign a simple lease option assignment contract.
As the name of the contract implies, this allows us to assign our interest in the home.
Then we find a potential tenant-buyer who is interested in purchasing that home. After an agreement is reached, we simply assign our interest in the home to the tenant-buyer and they basically “step in our shoes" by taking over the rights in the contract.
Therefore, if you happen to be a motivated seller who would consider selling your home as a rent to own Grand Rapids Michigan, please visit our sellers page .
Dan Ho is a real estate investor in Michigan. If you want to sell or buy via rent to own grand rapids Michigan visit us now.