How to Sell Your House Fast – The Benefits of Using a Rent to Own Agreement

Plenty of people are putting up their homes for sale in Bergen county NJ, they often struggle to look for a buyer. Faced with a similar situation, many have turned to “rent to own” payment schemes in an effort to sell their houses. Although not the most traditional way of selling a house, using this structure when putting up your house for sale in Passaic NJ is worth a risk. We discuss the pros of using a “rent to own” structure in our post below.

“How to sell your house fast”

This is a very common search term in Google, regardless of the area. If that’s a problem for you, then you might want to consider selling your property via a “rent to own” structure. This is especially true if you don’t necessarily need the money upfront from a cash sale and perfectly fine with a long-term return for your investment.

Below are a couple of reasons why you should consider this method before putting up your house for sale in Passaic NJ:

You Get the Full Price

When listing a property or selling it for cash to an interested investor, you don’t always get the price that you want. But, with a rent to own scheme, you can, and you’ll probably be able to sell it for the full price.

Just like renting your house out, you can set a considerable amount of money for a sizable deposit, and the rest becomes essentially monthly rent and final payment. You can figure out how much by how long the terms of payment will be. For example, if you set the payment terms to three years, you can set an amount as a security deposit before they can move in. The remaining balance will then be divided into 36 months or 3 years, which will serve as the monthly payment, and a predetermined amount that will be paid in lump sum after the “monthly rent” period.

You can lay out all of this before the signing of the contract, and once you have come to an agreement, the final price of your property will never change, regardless of the market.

You Broaden Your Market

By putting up your house for sale in Passaic NJ via a rent-to-own agreement, a lot more people will be interested in buying it.

It’s no secret that the market is full of interested buyers that would’ve already bought their homes if not for a small financial mistake in the past that prevents them from applying for a mortgage. By putting up your property for sale via rent to own, such individuals can buy their own house, get their finances in order, and finally, loan money from the bank or a credit union to pay you the remaining balance after a few years. It’s also possible that an interested buyer has a good credit score, but just don’t have enough cash to apply for a regular mortgage.

Regardless, a rent-to-own option allows interested buyers to focus either on fixing their credit score or coming up with the money and eventually pay the outstanding balance and buy the property.

Your Property Generates Passive Income

Perhaps the best part of rent-to-own agreements is that you get a deposit, monthly payments, and the final payment for the outstanding balance. This means you have passive cash flow every month, which can help you financially and plan ahead better.

You Won’t Have to Worry About House Damage

Because your tenants plan on buying the house one day, they will take care of it as if it was their own! This lowers the cost for maintenance considerably.

Some tenants might even consider improving the house and making upgrades, further increasing the monetary value of your property. Of course, legally, they’re still required to clear any planned renovations with you first.

It’s a Win-Win Situation

If the tenant follows through and pays the final balance, great! Your property is finally sold, and at full market price at that! If not? That’s okay. Your property will remain yours until the tenant has paid the full balance.

Essentially, this means that you get to keep all of the money paid, including the monthly rent and deposit, if in case the tenant suddenly decides that they don’t want to buy the property anymore. The best part? You’re free to sell or rent the home again! While this doesn’t happen often, it’s nice to know that you can put your house for sale in Passaic NJ via rent to own and not have to worry in case the buyers or tenants change their mind.

Download our
FREE Market Guide

  • This field is for validation purposes and should be left unchanged.

See Our Google Reviews

Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or more
15:13 02 Aug 21
Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
Vishrut Patel
Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy more
Chelsea Grant
Chelsea Grant
15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
Next Reviews

Site Map
Privacy Policy

Click for the BBB Business Review of Cash Buyer New Jersey