$25,000


Land

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E 2nd St
Duluth, MN 55805

Status: Active
Listing ID: 56556509

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Current Value
$25,000
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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.

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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Duluth, MN
Home Inspectors

Van Dyke Home Inspections
Ken Van Dyke
218-391-0356
Cover-All Home Inpections
Paul Bachinski
218-391-9522
Inspection Protection
Paul J Bugge
218-525-3936
foreclosure.com

E 2nd St
Duluth, MN 55805

Land

$25,000

Status: Active Listing ID: 56556509

Property Information

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Property Description

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Listing URL

https://static.foreclosure.com/listing/address.html?address=E-2nd-St-Duluth-MN-55805/56556509_lid

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