We want to help you find your new Home in Louisville KY.
Louisville is located along the Ohio River in north central Kentucky.
Louisville has been referred to by some persons as the biggest small town you’ll ever visit – and for good reason. Louisville has many features that some of the more well known and cosmopolitan cities promote including: orchestra, fine arts, theater, etc.
But it also features some “down home” hospitality and “less refined” venues such as: monster truck rallies, tractor pulls, and numerous livestock shows. And….it works. Many persons relocating to Louisville (sometimes against their desire due to a job transfer) find that they quickly fit in, and after a short time – Louisville starts feeling like “Home”.
Purchasing a House is one of the most crucial decisions any family or any person will have to go through. That is why; it is very important that one goes through deep thinking and be guided by people who are knowledgeable about this matter. Buyers, before deciding on purchasing one, need to look into better options and other opportunities in availing a House.
More and more people are taking every step of purchasing anything slowly and surely. This is why real estate brokers are now opening Rent to Own options to people who wish to avail their own House. The Rent to Own option in getting a House is easier and cheaper to avail.
No down payment is needed and less paper work is involved in Rent to Own Houses. It exempts buyers from the hassle of dealing with banks and housing agencies. It is cheaper because the down payment for a Rent to Own House is way lower for only two to three percent of the original price of the property. This will depend on the agreement between the buyer and the seller.
The term of contract also depends upon the agreement between the buyer and the seller but usually it lasts two to five years. Once the period of lease has been completed, the seller gives the tenant the option to buy the House. The tenant can decide to or not to buy the House.
If a tenant decides not to buy the House, the seller can ask him or her to leave so as to look for another prospective buyer. If the tenant decides to buy the House, the seller will have to arrange the contract transferring the responsibility and liability of the House to its new owner.
A tenant, to purchase the House, will have to prepare for the payment of the remaining cost of the original price of the House minus the amount paid from the rental fees earned. Additional miscellaneous for the tenant would be additional taxes and other housing dues.
As long as the tenant is under the term of contract, the responsibility of taking care of the House is under him or her. If the House needs any improvement or repairs, the tenant can decide to apply any changes as long as it is for the improvement of the House and for any value not lower than the cost of the House.
What any tenant should have and keep in mind in the Rent to Own option is, the House he or she is renting will soon be his or her own so it is important that a tenant takes good care of the House and treats it as his or her own.
Sellers are very critical in choosing people as tenants or buyers. Sellers go for sure buyers, so if you are a tenant and are not sure of settling in a place for a long time or for good, then do not go for the Rent to Own option. This will not only save the seller from the hassle but it will also save you from any financial burden later on.