Are Eugene Rent To own Houses A Scam? West Coast Property Group

Ed: Hey, everyone, this is Ed at West Coast Property Group and today’s video blog topic is Are Eugene Rent To Own Houses A Scam. So if you spent any time at all driving around Eugene, Oregon or browsing Craigslist or Facebook Marketplace or any of the other websites, you’ve probably seen ads that say something like, “Own a home for $1,200 a month. No credit check required.” It seems too good to be true, but actually our local rent to own homes, they’re really great option for many Eugene residents to take advantage of. So are Eugene area Rent-to-Own houses a scam. Obviously, in any business, there are always scammers who aren’t doing the right thing that can give everybody else and my business a bad name. But renting to own, or a lease option as we call them, they’re not a scam and they are actually a really great way for people to get into the path of home ownership.

So if you’re current financial situation prevents you from getting a home loan right now, you can also find plenty of homes that are available for a lease option. Really the rent to own process, it’s really relatively simple. Basically, you got about three steps. The buyer and the seller come to an agreement on the cost of the home and I’m the guy in the middle that’s going to set this stuff up and negotiate the best terms with the buyer and the seller, the monthly rental payment and how long the buyer will have to purchase the home. That would be the lease term.

Now, the buyer, second of all, the buyer moves into the home and begins paying rent and as this is going on, the buyer’s working on building his or her credit and securing financing to purchase a home using some sort of traditional means. When you work with me, I typically set this up for you. I have a mortgage broker that’s really, really good at doing this and the processes are really streamlined and very smooth. If you prefer and you have your own broker then I will absolutely sit down with you and your broker and we can work out a plan to make sure that you’re successful at the end of this lease period. Because at the end, we ultimately want you to purchase the house. The third thing, at the end of the term, the buyer has an option to buy the home at the price that is agreed upon in the very beginning at the initial agreement.

So things to consider with your Eugene Rent-to-Own home or lease option, Rent-to-Own homes in Eugene is a valid business venture and things that the buyers must consider are about four things. Unlike traditional home ownership, if a renter misses a payment, the entire contract could be null and void. So you need to be very careful and be very diligent with your bills. Make sure that you pay your lease on time. Make sure that you read the fine print, ask the property owner what default clause there is. And again, I’m in the middle so I will be your go-between person. Any reputable real estate company like myself and West Coast Property Group, they’ll give you this information and we can answer any of the questions that you have.

If you decide not to purchase the home at the end of this lease period or if you’re unable to secure financing and you still have some credit issues, the down payment that you put down is likely going to be lost. Now, we can work out some extensions so every situation is unique and different. Another thing to consider is the upfront option fee for the Rent-to-Own agreement is usually nonrefundable, so be sure when you sign on the dotted line, make sure this home is right for you.

The next thing is unlike traditional rental agreements and in Rent-to-Own home situation, the renter is responsible for repairs, so keep that in mind. Some of the advantages of Rent-to-Own homes in Eugene, Oregon, a few items, buyers can check out the neighborhood before committing to a long term 30-year mortgage. Family can move in quickly and children can get enrolled in the school district, which more often than not, that is one of the main purposes while you’re looking in this area as well as some credit struggles you’ve had in the past. Buyers with credit problems, we have time to get their financial situation in order and like I mentioned before, I do quite a bit of time setting things up for you and helping you along in that situation.

Another thing, the seller has a tenant who has a good reason to keep the property in great shape. That’s a benefit for the seller. The seller’s going to receive monthly payments which can cover their mortgage payments. Another great benefit for the seller is the seller’s exposed to a larger market share because traditionally house buyers are pre-approved and have great credit. So it’s kind of like the best of the best. When you deal with lease to own, you open up that market-share to a lot more people.

So all things considered, back to the beginning Are Eugene Rent To Own Houses A Scam. Definitely not a scam, but they are a legitimate option for both buyers and sellers. And if you want to know much more information about renting to own houses in Eugene and our process, or check out our available homes, you can go to our website at www.westcoastpropertygroup. com. You can also learn more about our program, Just give us a quick call at 541-780-2424. You can also subscribe to my YouTube channel. Click on the link down below, leave me some notes, let me know what you’re wanting to hear about. I do a lot of lease options and I talk to people every day and there’s always lots of confusion about what it is, how it is, what it works, benefits, drawbacks, all that. So leave me a reply down here in the bottom and I would love to do some more video blogs for you. So thanks again.

https://youtu.be/BoSnfnAu5xo
Video Transcription

Ed: Hey, everyone, this is Ed at West Coast Property Group and today’s video blog topic is are Eugene Rent-to-Own houses a scam? So if you spent any time at all driving around Eugene, Oregon or browsing Craigslist or Facebook Marketplace or any of the other websites, you’ve probably seen ads that say something like, “Own a home for $1,200 a month. No credit check required.” It seems too good to be true, but actually our local rent to own homes, they’re really great option for many Eugene residents to take advantage of. So are Eugene area Rent-to-Own houses a scam? Obviously, in any business, there are always scammers who aren’t doing the right thing that can give everybody else and my business a bad name. But renting to own, or a lease option as we call them, they’re not a scam and they are actually a really great way for people to get into the path of home ownership.

So if you’re current financial situation prevents you from getting a home loan right now, you can also find plenty of homes that are available for a lease option. Really the rent to own process, it’s really relatively simple. Basically, you got about three steps. The buyer and the seller come to an agreement on the cost of the home and I’m the guy in the middle that’s going to set this stuff up and negotiate the best terms with the buyer and the seller, the monthly rental payment and how long the buyer will have to purchase the home. That would be the lease term.

Now, the buyer, second of all, the buyer moves into the home and begins paying rent and as this is going on, the buyer’s working on building his or her credit and securing financing to purchase a home using some sort of traditional means. When you work with me, I typically set this up for you. I have a mortgage broker that’s really, really good at doing this and the processes are really streamlined and very smooth. If you prefer and you have your own broker then I will absolutely sit down with you and your broker and we can work out a plan to make sure that you’re successful at the end of this lease period. Because at the end, we ultimately want you to purchase the house. The third thing, at the end of the term, the buyer has an option to buy the home at the price that is agreed upon in the very beginning at the initial agreement.

So things to consider with your Eugene Rent-to-Own home or lease option, Rent-to-Own homes in Eugene is a valid business venture and things that the buyers must consider are about four things. Unlike traditional home ownership, if a renter misses a payment, the entire contract could be null and void. So you need to be very careful and be very diligent with your bills. Make sure that you pay your lease on time. Make sure that you read the fine print, ask the property owner what default clause there is. And again, I’m in the middle so I will be your go-between person. Any reputable real estate company like myself and West Coast Property Group, they’ll give you this information and we can answer any of the questions that you have.

If you decide not to purchase the home at the end of this lease period or if you’re unable to secure financing and you still have some credit issues, the down payment that you put down is likely going to be lost. Now, we can work out some extensions so every situation is unique and different. Another thing to consider is the upfront option fee for the Rent-to-Own agreement is usually nonrefundable, so be sure when you sign on the dotted line, make sure this home is right for you.

The next thing is unlike traditional rental agreements and in Rent-to-Own home situation, the renter is responsible for repairs, so keep that in mind. Some of the advantages of Rent-to-Own homes in Eugene, Oregon, a few items, buyers can check out the neighborhood before committing to a long term 30-year mortgage. Family can move in quickly and children can get enrolled in the school district, which more often than not, that is one of the main purposes while you’re looking in this area as well as some credit struggles you’ve had in the past. Buyers with credit problems, we have time to get their financial situation in order and like I mentioned before, I do quite a bit of time setting things up for you and helping you along in that situation.

Another thing, the seller has a tenant who has a good reason to keep the property in great shape. That’s a benefit for the seller. The seller’s going to receive monthly payments which can cover their mortgage payments. Another great benefit for the seller is the seller’s exposed to a larger market share because traditionally house buyers are pre-approved and have great credit. So it’s kind of like the best of the best. When you deal with lease to own, you open up that market-share to a lot more people.

So all things considered, back to the beginning Are Eugene Rent-to-Own houses a scam. Definitely not a scam, but they are a legitimate option for both buyers and sellers. And if you want to know much more information about renting to own houses in Eugene and our process, or check out our available homes, you can go to our website at www.westcoastpropertygroup. com. You can also learn more about our program, Just give us a quick call at 541-780-2424. You can also subscribe to my YouTube channel. Click on the link down below, leave me some notes, let me know what you’re wanting to hear about. I do a lot of lease options and I talk to people every day and there’s always lots of confusion about what it is, how it is, what it works, benefits, drawbacks, all that. So leave me a reply down here in the bottom and I would love to do some more video blogs for you. So thanks again.

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