What is the process of a Rent to Own?
The rent to own procedure is actually quite straightforward and easy to understand.
Get started now and fill out the form at right to join our property list. Let us know what kind of home you’re searching for, your budget, etc.
We provide home listings in the Utah area for rent to own/lease option homes that fit your criteria. If you have a specific city in mind, just let us know and we will provide you with the appropriate listings.
If you are interested in a home and would like to purchase it, we will provide you with an application form. We understand that financial backgrounds differ from person to person and therefore offer assistance even if your credit score is not the best. As long as you can afford the property, chances are we can help you own it.
Once your application is accepted, you and the landlord will settle on a rent amount as well as the details of purchase. After everything’s finalized, sign the paperwork and you can start living in the property!
Moving in and making your rental payments on time will give you the right to consider buying the home at a pre-decided price when your lease term is up. You can then decide whether or not you’d like to purchase.
THERE IS NO OBLIGATION to purchase the home after the rental agreement expires.
If you decide to purchase through us, we’ll give you a credit for some of your rent payment which could help lower your purchase price. The amount of the credit will be based on the program you select.
How Long Do Utah Rent To Own / Lease Option Last ?
Your lease/option agreement (often referred to as rent to own contract) will indicate the period of time you’ll have in order to wrap up the property purchase – typically 3-5 years, we understand the difficulty of securing a bank loan, and may be able to offer an extension in certain cases if you need more time to increase your credit score or save up for a down-payment.
Purchasing a house often happens with the help of a mortgage loan, but if your finances do not allow it, there are alternative options available that may help you to finalize the transaction.
That’s the process!
You have finally achieved the pinnacle of homeownership – all your hard work to get the mortgage has paid off and now you own your home!