To have a house that he can call his own is probably one of the fulfilling achievements a person can have. Who wants to live in a place with no certainty and who wants to pay for rent his entire lifetime? It is rather more appealing to have a house you can call your own, remodel or arrange it to fit your preference. That's why there are rent to buy mortgage scheme that are available nowadays.
If you have been a council tenant for quite some time, then you have the council right to purchase it at a discounted price. This council right serves as a chance for your to be the owner of the house and fully benefit from the conveniences that you have been seeing from a distance for so long.
However, the discount that you can avail in rent to buy mortgage is based on the number of years that you have lived in the house. The longer you stay, the bigger your discount.
In the event that you decide to avail the rent to buy mortgage, there are additional benefits that you can take advantage of, like easy, affordable and flexible repayment terms. Council right gives tenant a chance to buy the house in a constructive manner so a bad credit is not really an issue.
The only big distinction in rent to buy mortgage from the usual rental agreement is that, a part of your money spent every month goes to your acquiring the house in the future. This gives you the chance to own a house without you having to spend so much on down payments. In this way, this gives you more allowance to spend the money on renovations, thus, adding value to the property if you are thinking of selling it in the future.
But if you do not want to own the place you are renting and prefers to buy another property that is near foreclosure, yet do not have enough money it, do not fret. As you may not know, there are a lot of pre-foreclosure houses with mortgages too. This is a huge slice that is still unexploited in the mortgage note industry. If you are interested, it is feasible to own the mortgage note on a defaulted property. This mode of real estate investment requires you to personally contact the owner.
So once the owner agreed to sell the property, you have him sign the contract; notwithstanding that you, are going to procure the note on their mortgage in their behalf. This signing of contract gives you the right ot hold the property in your possession while processing the papers in the bank and will prevent the homeowners from turning their back and sell it to another buyer. The contract turns immaterial the moment you acquire ทาวน์โฮมมือสอง กรุงเทพ the note.
Upon getting the mortgage note from the bank, you have the preference on what to do with the property. You can either obtain a "Deed in Lieu of the Foreclosure" or you can force them to leave the house.
The "Deed in Lieu of Foreclosure" makes the homeowner hand you the property deed in the event that they cannot make payments. Then the homeowner can move out without the foreclosure mark on their name since the property is already in your possession.
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