Crystal Lake Rent To Own properties, seller financing & purchase options on home rentals in Crystal Lake, Illinois
Questions? Contact Us:
There is more than one way to buy and sell a home and with Crystal Lake Rent to Own we have the programs and solutions to assist any
buyer or seller. “Rent to Own” is a broad concept for getting into a home through many different home buying options.
If your present financial situation is keeping you from buying a home by getting a traditional mortgage through a bank, financial institution or
mortgage broker, you should consider a Rent to Own property in Crystal Lake. We have properties in Crystal Lake and the Northern
Suburbs of Chicago that allow you to occupy without getting a traditional mortgage. There are two main options. The 1st option is when you
make a monthly mortgage payment directly to the seller through by using seller financing through a land contract or articles of agreement.
The 2nd option is a normal rental with an option to purchase at a later time.
Owning a piece of the American Dream is closer than you may think!
At Crystal Lake Rent to Own we take pride in providing quality homes at affordable prices. Our goal is to assist clients in obtaining a home
that fits their needs. Crystal Lake Rent to Own offers Real Estate For Sale that are in move in condition. Crystal Lake Rent to Own is apart
of the Blue Fence Real Estate network. When you work with Crystal Lake Rent to Own, you get outstanding service that will help you fulfill
your dream of becoming a homeowner!
At Crystal Lake Rent to Own Homes our dedicated staff will ensure that you find the location and type of home that meets your needs. Even
if a suitable home is not found right away, Crystal Lake Rent to Own through Blue Fence has the resources and experience to quickly find
and a property, condo, house, townhouse or home to ensure our clients satisfaction. The Crystal Lake Rent to Own website allows you to
view Rent to Own, Lease Option, Seller Financing, Land Contract and Articles of Agreement Homes For Sale in Crystal Lake, Illinois. As you
continue on the official Crystal Lake Rent to Own Real Estate website, we are going to show you the simple non-traditional steps you can
take to buy a home in Crystal Lake or any of the Northern Suburbs.
Crystal Lake Rent to Own also known as a non traditional home purchase process. It is the process whereby you either rent a property in or
around Crystal Lake Illinois and have an option to purchase the same property at some time in the future at a given price or you have the
seller finance the loan or mortgage and make a monthly payment directly to them. Through Crystal Lake Rent to Own's Seller Financing,
Land Contract or Articles of Agreement, you can build your equity while making a monthly payment. Plus, you can lock in today's prices. Blue
Fence always recommends the use of an attorney prior to entering into any real estate transaction.
"Rent to Own" is a non-traditional avenue for purchasing a
home. Instead of purchasing a property by going to a financial
institution for a mortgage and closing on the home with a loan,
you either sign a land contract (articles of agreement) OR you
rent the property with an option to purchase at a later time.
Both options give you the ability to make a monthly payment as
if you were renting.
Option #1: Land Contract / Articles of Agreement - is the
process when you agree upfront to the purchase terms, close
on the property and make a monthly payment to the seller. The
monthly payment is similar to how you pay rent; but instead,
the payment would consist of principal, interest, taxes and
insurance, similar to a mortgage payment. This is also called
"owner or seller financing". The down payment and monthly
principal payment goes towards reducing the overall principal
balance owed to the seller.
Essentially, the seller of the property is giving you a mortgage
on the property. As sellers are taking a risk, they like to see a
down payment of between 10% and 15% of the purchase price
to see that you have some "skin" in the home.
With a Land Contract, you build your equity while you are
making your monthly payments.
Option #2: Rent with Option - is the process whereby you rent
a property and have the right to purchase the same property at
some time in the future at a given price.
This option is the same as renting, it just gives you the option
of purchasing later on at a predetermined price. You are under
no legal obligation to buy the property if you determine that
doing so is not in your best interest.