HomesWest @ blogspot: ARIZONA 3/2---SOLD---

ARIZONA

BED- 3 / Baths2

1,440 Sq. Ft.

Built: 1998

Lot Size: 7,385 Sq. Ft.

Priced at: $135k

Lease To Own Property

Real estate:
While rent-to-own transactions are most commonly conducted in the context of consumer goods obtained at a retail store, this type of transaction also describes a specialized real estate agreement. In a rent-to-own real estate agreement, the tenant has the option to purchase the real property at a fixed price within a specific period of time, usually one to three years.[!] As part of the contract, the renter may be required to make a nonrefundable deposit.[!] Occasionally, a portion of the monthly rent paid during the lease period is counted towards the down payment on the property, often in addition to the monthly rent as a monthly premium that may or may not set the rent above the current market rate.[!] If the tenant is unable to exercise the option to buy, the owner is then free to rent or sell the property to another buyer, or to restructure the contract.[!] Rent-to-own real estate contracts typically become more frequently exercised during housing market downturns.

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Wednesday, March 5, 2014

ARIZONA 3/2---SOLD---

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