No bank financing. Land Contract or rent to own. Be the proud owner of your own home. If you're willing to do the work, you can build equity right away. I may even pay for materials. What are the benefits of a buyer purchasing with a land contract and doing your own fix up. The purchase price before fix up is $79,900, the down payment is $3000 and the monthly payment including taxes and insurance is $799. After you do repairs and fix up the comps support a purchase price $129,900. Why should a buyer purchase this? Purchasing a property through a land contract, especially in this scenario, offers several advantages for buyers, particularly those willing to invest time and effort into renovations. Here are some key benefits: 1. **Lower Upfront Costs With a down payment of only $3,000, the initial financial barrier is significantly lower compared to traditional financing options, making home ownership more accessible. 2. **Potential for Increased Equity By purchasing at $79,900 and investing in repairs, the buyer can significantly increase the property's value. If comps support a value of $129,900 after renovations, the buyer stands to benefit from immediate equity. Do your own comps you'll be surprised at today's prices. 3. **Flexible Terms Land contracts often come with more flexible terms than traditional mortgages, which can be advantageous for buyers who may have less-than-perfect credit or who are self-employed. 4. **Control Over Renovations The buyer has the freedom to choose how they want to renovate the property, which can lead to a personalized living space that meets their needs and preferences. 5. **Potential Tax Benefits Depending on local tax laws, buyers may be able to deduct certain expenses related to renovations, property taxes, and mortgage interest, which can lead to significant savings. 6. **Investment in a Growing Area If the local market is appreciating, the buyer could capitalize on future property value increases, especially after making improvements that enhance the home's appeal. Overall, purchasing with a land contract and doing the fix-up work can be a smart investment strategy for buyers willing to put in the effort to improve the property and increase its value.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
