$480,000 EMV


2 Beds   2 Baths   Single-Family

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E Erie St Apt 3905,
Chicago, IL 60611

Status: Active
Listing ID: 55714229

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Rent to Own

Rent to own properties are ideal for homebuyers who are on the fence and not quite ready to go "all in" on a specific real estate investment. It's basically like taking a home for a "test drive," getting to know the neighbors, local school districts and community benefits (and drawbacks) before making the all-important decision to buy.

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First Steps to Buying a Rent To Own Home

This type of real estate deal entails an agreement to rent a property with the option to purchase it at a predetermined date and price. Under some structures a portion of the rent paid during the lease period can be applied to the purchase price. Also, during the lease period, the purchaser/lessee can use that time to save for a larger down payment or fix personal credit issues. As a third incentive, the purchaser/lessee can move into the property, get to know it thoroughly, get to know the neighborhood, and either complete the purchase or walk away from it, if the property turns out to not be suitable for him. For the seller, the rent to own option adds value to the sale of the property and broadens the market for potential buyers.

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Chicago, IL
Home Inspectors

Edward C Kelly
Safeco Home Inspections
Michael A. Peters
800-290-1119
Jez Home Services
Asmir Zenkic
773-653-3383
JRW Property Inspection and Consulting LLC
Jerry Woznyj
773-774-4260
Buyers Protection Group Inspections
Lesley (Les) W Glowacz
800-285-3001
foreclosure.com

E Erie St Apt 3905
Chicago, IL 60611

2 Beds   2 Baths   Single-Family

$480,000 EMV

Status: Active Listing ID: 55714229

Property Information

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Listing URL

https://www.foreclosure.com/listing/address.html?address=E-Erie-St-Apt-3905-Chicago-IL-60611/55714229_lid

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