How To Find More Buyers For Your House In Middlesbrough

How To Find More Buyers For Your House In Middlesbrough

If you are finding it difficult to sell your property in Middlesbrough, using a simple tool called rent to own contract can do the trick for you. This simple method can find more buyers and help you sell your house at the asking price! In today’s post, we shall discuss in detail if this method is perfect for your house.

More often than not, people trying to sell their houses in Middlesbrough list them on Zoopla and Rightmove. But the movement usually is very slow and you might find your house sitting on the list for months. This is a frustrating scenario where you may need some quick cash but your Middlesbrough house keeps incurring expenses as it fails to attract buyers.

This uncertainty can be circumvented by offering rent to own contract. This contract has the power to find more buyers, get your Middlesbrough house sold at the asking price quickly and let you move on with cash in pocket. Rent to own contract works because it creates a win-win scenario for both buyer and seller. Let’s elaborate on why rent to own is a great method of selling your house in Middlesbrough.

A Whole New Buyer Market

Rent to own allows you to reach out to a whole new class of buyers that traditional listings fail to attract. These are buyers who want to buy a house in Middlesbrough but have been impeded by one or the other financial constraints.

Buyers with Bad Credit History:

Bad credit history does not immediately mean that the person is financially irresponsible. It could be a bad loan, unfortunate circumstances or a mistake in the past. But a bad credit record is difficult to repair and might take years. In the meantime, the person may not qualify for a loan which makes it very difficult for them to buy a property. If you find such a buyer, they may not be able to secure a loan but have no problems making monthly payments.

Buyers who have Not Saved Enough for a Down Payment:

In today’s economy, making a handsome saving each month is a tall order. It is especially difficult if one is supporting a large family, has to stay in an expensive neighborhood or has to pay off existing debts. Such buyers may have the cash flow to buy a house and pay off loans, but do not have enough money put away to make the down payment. Rent to own contract allows them to own a Middlesbrough property and 2 to 3 years to secure the required sum.

How it Benefits Sellers:

For sellers like you, a rent to own contract brings manifold benefits. First of all, under this contract, the people you will be dealing with are not regular tenants. These are people who have a genuine interest in owning your house and likely will keep the house in a condition that is preferable to them. Secondly, you Middlesbrough house will attract more buyers as there is no dearth of people who are down on credits but would like to become house owners. And finally, since they are entering into a contract, you can expect monthly payments from them without fail as missing rent could mean violating the contract which allows you to foreclose on the property.

Following are a few of the benefits:

  • Exposes your property to a whole new class of buyers.
  • Higher rent than similar Middlesbrough properties.
  • Regular on-time payments as the buyer run the risk of violating the lease by missing payments.
  • You do get a down payment upfront which you can utilize any way you want.
  • If the lease is violated, you get to keep the down payment and rents paid thus far.
  • Instead of your property sitting idly for months, it starts generating an income.
  • Property upkeep is handled by the tenants.

Rent to Own Contract Means Low Risk:

It is a low-risk lease to get into as you have all the control once the contract starts. Not only do you start getting monthly payments, but buyers with a bad credit history are more likely to agree to pay the asking price to be able to own a Middlesbrough property. If rent is missed, you have the power to foreclose on the property. You would have to start the whole process all over again but the down payment and the rents paid make the venture profitable. More often than not, rent to own contract can net you more money than a traditional listing method.

When is Rent to Own not Suitable?

If you are in the market to make a quick buck, this method is not for you. Once you get into this contract, you have to give the buyer at least a couple of years to get his finances in order. Before you brush off this method, do understand that you have the potential to earn considerably more by using the rent to own method to sell your Middlesbrough property.

These are just a few of the benefits you can derive from a rent to own contract in Middlesbrough. According to a CNBC report, “rent-to-own arrangement can yield positives: steady monthly income while moving toward the promise of a sale.”

If you are also looking to find more buyers for your property in Middlesbrough, let us help you out. Reach us by clicking here or call us 0191 486 2386 today!