Rent To Own Florida Home Buyers

If you desire to own your own Florida home but are unable to secure conventional financing today, you may want to consider a lease with the option to purchase. A lease with the option to purchase can put your monthly rent money work for you instead of making your landlord rich. Renting to own via a lease and an option requires 2  contracts.

1) A Lease Agreement – A standard lease agreement.

2) Option to Purchase Contract -  A non refundable deposit buys you an option period in order to purchase a Florida home. The option deposit is applied towards the purchase price. If you do not purchase the home within the option period your deposit is forfeited.

Here's how it works:

Rent to own a Florida home on the MLS. As Licensed Florida agents we will attempt to negotiate terms with the Sellers/Seller agent  or Landlord of any Florida property listed on the MLS. When the  terms have been agreed upon you will execute a lease agreement and an option to purchase contract to purchase the home at some point in the future. We work within your budget to create a lease and option to purchase contract that works best for you.  However it is your responsibility to qualify for a mortgage within the lease option period or you could lose your option deposit and rent credits applied towards your home purchase. There are typically three (3) considerations involved in a rent to own transaction:

1. Option Deposit- You must have Option Consideration monies and the first months rent payment. Option Consideration is typically 3.5% to 7% of the purchase price or a minimum of $3500 – $7000 as option deposit money toward the purchase price of home and the first months rent payment. The option deposit money is a non-refundable payment, of which 100% should is credited toward the purchase price of the home.
2. Rent Credits- In order to receive a rent credit of up to 50% (or possibly more) time is of the essence. You MUST pay your rent on or BEFORE the due date of your lease (typically the 1st of the month). Any payment received after the due date will result in a 0% rent credit for that month, a late fee may apply and you will not be building any equity. Also any late payments will further your changes of qualifying for mortgage within the option period.
3. Maintenance- In addition to paying your monthly rent for your housing you are now renting to own and your responsibility as a tenant buyer requires maintenance. This includes cutting the grass, making repairs and fixing, clogged drains, broken appliances, burnt out bulbs, etc. If any major repairs are required to ensure habitability, the owner remains responsible.

If your interested in learning more about our Rent to Own Lease Option Program Simply provide us with the information below and we will contact you immediately * indicates required fields