6638 US 322, Franklin, PA 16323 for RTO (Cranberry school district) BAD CREDIT IS OKAY! Prime location 4 bedroom 1.5 bath, with a .69 acre lot located 1 minute from the cranberry commercial development in Venango County. Property has a 48x24ft metal garage with 3 overhead doors. House has newer laminate flooring throughout the first floor, and new luxury vinyl plank in the bathrooms, entry-way, and rear porch room. All bedrooms have new carpet. Full house has new interior paint. Ceiling fans in all the bedrooms and living/dining rooms. Kitchen has new countertops, tile backsplash, and has a stainless steel electric stove and a stainless steel fridge with ice maker. First floor master bedroom, first floor laundry room. House has all vinyl replacement windows from window world. Exterior house has been painted, along with 3 porches stained. Small 12x16 storage shed in the back of the lot. New propane furnace and electric hot water tank. Long term lease with the option to buy at the end of the lease. $8,000 required upfront for the option to buy, as well as first months rent. Must make 3x the rent in gross monthly income and be able to pass a background/eviction check. Must be willing to sign a 3 year lease. Pets negotiable for a fee. Bad credit is okay. Flexible and open minded. This house will not qualify for HUD. Please message for more information, and to set up a viewing with the property manager. 6638 US 322 Franklin, PA 16323 (Cranberry School District) BAD credit is Okay! Lease with the Option to buy details: The sale price of the house will be locked in at $240,000 on a 3 year option contract. There is an option fee required upfront ($8,000) to reserve the house in 3 years. If you decide to buy the house the option fee would go towards the purchase of the house. You are not obligated to purchase the house if any circumstance may arise or you decide to move at the end of your lease. If so, this fee would be non-refundable. The rent would be locked in at $1600, for 3 years and at the end of the lease you would have an additional $10,800 credited on top of the $8,000 option fee for a total of $18,800 towards the purchase price of the house at the end of the lease. Tenant will be responsible for all maintenance and repairs under $500 with authorization of the landlord. Landlord will cover any repairs over $500, and Tenant will be responsible for the first $500 of the repair. Total upfront moving cost is the option fee plus first months rent ($8,000 + $1600) = $9,600 Move In Now, Buy Later with Rent-To-Own Lease the home until you qualify for financing. Leasing to own can be the best option to locking in your new home while giving you time to build your credit and receive financing Also known as rent-to-own, leasing to own is one way to become a homeowner when you are working on qualifying for bank financing. You can lock in the home that you want to own, move in right away, and have the option to purchase within a set amount of time. You won't have to miss out on owning your house just because your financing isn't ready. How Rent-to-Own Works Lease-to-own situations creates a win-win situation for both the buyer and the seller. For the homeowner: Since the tenant-buyer (that's you!) will rent the property for a time period and then buy the home, the landlord receives upfront cash and and secures a buyer. ($8,000 option-fee) For you as the buyer: You won't be stuck having to wait until financing is ready to move into your new home, and at the end of the lease there will be a final credit applied to the sale price or deducted from the sale price, known as the "one time credit" ($10,800) This arrangement is ideal for buyers that: 1. Need more time to fix their credit 2. Need more time at their current job or self-employ to qualify for financing So, what does the arrangement look like? When you enter a lease-to-own agreement, you are contractually renting for a certain time period, with the option to buy within that period. In order to qualify for that option to purchase, you pay an option fee, which is non-refundable but applicable to your purchase price. Think of it like a payment to the seller to reserve the property for you. Since you've paid the option fee, they are not allowed to sell the home to anyone else. This can be an excellent option if you're an aspiring homeowner, but aren't quite ready financially. This opportunity gives you the chance to get your finances in order, improve your credit score, and save money for a down payment, while "locking in" and living in the house you'd like to own. Please let me know if this sounds like an opportunity for you. 3 year lease with the option to buy
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