Prospective homebuyers sometimes find themselves in the position of being emotionally ready to buy their first home but not quite financially prepared. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that rent-to-own agreements might be an option for you but they vary in their exact terms. Generally, the property owners and renters sign a contract in which the renter agrees to rent the property for a specified time, typically one to three years. During that time, the renters usually pay an above-market rent, with the excess rent credited toward a down payment when the contract ends. The contract typically sets a price for the home at the end of the lease. Check out below to see what sold in Highland Lakes in June 2015:
42934 Richards Court, Northville: 3 bedrooms, 1.1 bathrooms, 2,022 total sq. feet, Sold Price: $127,500
Highland Lakes Home Sold in June
42805 Itham Court, Northville: 3 bedrooms, 1.1 bathrooms, 1,422 sq. feet, Sold Price: $132,000
Highland Lakes Home Sold in June
42270 Norwood Court, Northville: 3 bedrooms, 1.1 bathrooms, 1,664 total sq. feet, Sold Price: $135,000
Highland Lakes Home Sold in June
A rent-to-own deal offers prospective buyers an opportunity to settle into a home they want to purchase while they continue to save for a down payment, improve their credit score, or wait for a negative factor on their credit report. For more information on Highland Lakes, or similar Northville or Novi neighborhoods such as Lakewoode Parkhomes, Olde Orchard and Crosswinds West, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.