Rent To Own this house in Montgomery, Alabama. Renovations should complete October 1, 2008. 3 bedroom house 10 minutes to city center of Montgomery or Maxwell Airbase.

You are asked to pay the Option Fee (or the Down Payment if you want to buy outright instead of with Rent To Own),
100% of Option Fee counts towards the purchase price.
Owner Financing.


Address: 4031 Gaston Avenue, Montgomery Alabama 36105, USA.
Market Value: $58,000.
Rent To Own Price: $48,900.
Rent To Own Payments: $640/month, with the Option to Buy.

This 3 bedroom, 1 bath home (1170 square feet) was renovated in 9/2008. Built in the 1953 in Ridgecrest community, this house is less than ten minutes (during business hours) from downtown Montgomery or Maxwell Air Force Base. The Montgomery Area Transport bus route 11 runs by the house to the downtown areas.

For a floor plan, area map, list of renovations, and photos, please see the home's webpage at http://www.Heart-dixie.com. (Heart of Dixie Real Estate Investments). This home is featured in the middle of the webpage. Click on the photo or address there for full details.


How to Buy This Home: You have two choices.
1. Straight Purchase Choice
Your new home is for sale at only $48,900. You are paying the down payment. The sale price is $48,900 and your are paying for the amount of the down payment for this house. $5000 only.

2. Rent To Own Choice
Your monthly payments are only $640/month, with 50% of your monthly payments crediting towards your purchase price. No security deposit! You are paying on the option-to-buy fee, and your option fee will be credited 100% towards the purchase price.
Your monthly payments will be only $640 each month, and $320 of your payment each month will count towards the purchase price of the house. There is no prepayment penalty and you can pay off the balance owed at any time.
You do not need bank approval or even a certain credit score. Your Option Fee, and half of all rent payments count towards your purchase price. Low monthly payments, low purchase price. No obligation to buy. Your non-refundable option fee locks in your rental amount and the purchase price.

This property is sold "AS IS, WHERE IS" with any and all defects, flaws, and benefits. This property has a free and clear title, and there are no liens or encumbrances attached to the property.
There are no Property Owners Association or Home Owners Association dues in this location.

The Option to Buy Fee is not a down payment, but it does secure your right (your "option") to buy the property at the stated price at any time during the rental period.

Why is this important for you?
Because you know exactly what your purchase price for the house will be while you are paying rent on it.

As is explained in the website (Heart of Dixie Real Estate), there is no penalty for paying off the purchase early. BUT, if you miss or are late with a payment, you break the rental agreement and the rent-to-own agreement and you lose your right to buy the land at the discounted price of $48,900.

Owner financing and rent-to-own is perfectly legal in the USA, and this is a legitimate and honest transaction. If you are uncertain about the Rent To Own process, please read the documents on the website at Heart of Dixie Real Estate. Email me if you still have questions.

If you are uncertain about whether to buy or Rent To Own, look at it this way: if you buy, you can arrange low-cost financing using your own bank or credit union or other lender. If you buy, you will receive full title (deed) to the property. If you buy, you can immediately sell the property to someone else to make a profit. (The house is valued at $54,000 - $58,000 based on similar houses in this community).

If you Rent To Own, you have the Option to Buy the house, but are not obligated to buy the house. Your rent payments are reasonable for a nicely-renovated house this close to the downtown area. Gaston Avenue has some really nice houses on it, and this is one of the cleanest and neatest streets in Ridgecrest community.

Payment may be sent by PayPal (beware that the eCheck option with Paypal takes 5-7 days to clear), Cashier's Check (drawn on USA bank only), or a Money Order (drawn on USA source only), and must be sent by Priority Mail. No personal checks will be accepted.

Please download and study the Rent To Own and rental agreements from my website (http://www.Heart-Dixie.com). Please also study the pre-application form that will be required.



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How Does This Rent-to-Own Work?
I have a nice home in Montgomery, Alabama, that I want to sell to good people who will be good community members. The price on the home is $48,900.00 + a filing fee of $100.

In my Rent To Own process:
1. You (the buyer), read the rental agreement and the Rent To Own agreements, and agree to comply with terms of the agreements.

2. You pay only on the "Option To Buy Fee" of $5,000. The "Option Fee" gives you (as the renter and the buyer), the right to rent the home at $640 per month, and it gives you the right to buy the home for $48,900 at any time during your rental period, with credit given for the Option Fee and for half of the rent monies that you paid to me. Because the option fee reserves for you the right to buy the property for a fixed total price and at fixed monthly payments, it is non-refundable.

3. We both sign the standard rental agreement and the Rent To Own agreement.

4. When I receive:
a. the signed agreements (both the Rental Agreement and the Rent To Own Agreement), and
b. the non-refundable payment on the option fee, and
c. the non-refundable payment of the filing fee of $100, and
d. the first month's rent of $640, then,
you are given keys and access to the home.

5. You make monthly payments of $640, payable on the first day of each and every month. These must be paid on time. I prefer to receive payments by Paypal to give you guarantee that you have paid. Beware that Paypal usually takes 4-6 business days to send rent money. You need to allow extra time, or talk to Paypal about ways to speed up the process.


Buying the Property.
Now, about the regular purchase Choice.
Closing and transfer of title can easily be handled through email + post office mail delivery; you do not have to be present to close on this title or to receive full and legal ownership. You can buy this house and sell it again, or you can buy it to rent out, or you can live in it yourself. It's a nice neighborhood with many children playing outside and families sitting on front porches.

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Example
What if you have a change in your life, such as, you are transferred to another job and you stop paying your rent-to-own monthly payments. Your contract ends, and you can move on to your new life. You will have lost your right to buy the property at $48,900, and you will not be entitled to a refund for the option fee, nor for rent monies paid.
However, you also will not have to be concerned with having a large sum of your money tied up in property you no longer want.

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Why Rent-to-Own?
Why would I (the seller) offer this property as Rent-to-Own instead of only selling it for cash all at once?
Answer: This is a nice house in a nice neighborhood. I want nice people to live in it.

But, many good tenants cannot afford to buy a home because of temporary credit issues. By offering to you a Rent-to-Own option, I can make my home available to good people, like you, who want a home, and have a temporary credit or cash limit that keeps you from buying a home that is in good condition.

I do ask for basic information to find out if you have problems with paying bills on time. I do run a background check. I want a good tenant who pays bills on time, because I have found that if a tenant does not always pay bills on time, they are not likely to be a peaceful and helpful member of my community. That is why I offer Rent-to-Own, but do not do rentals only. I want tenant-buyers in my community, not renters.

For more details on Rent-to-Own, as I do it in Alabama, see my website at:Heart of Dixie Real Estate.

Generic rental agreement, Rent-to-Own agreement, and pre-application forms are on the Heart of Dixie Real Estate website, http://www.Heart-Dixie.com, at the link "Rent to Own."


Why am I selling this property?
Answer: I invest in older homes that are in good neighborhoods, update them to be fresh and appealing, and then I make them available as Rent To Own homes.

I also sell land. See the website for more properties.


Why Buy From Me?
Answer: I have excellent eBay feedback, with 12 positive feedback comments in the past year and zero neutral or negative feedback comments. I own and manage several properties, and I love working with people who want to contribute to peace and calmness in their communities.


Examples of comments received from eBay:

"" A TRULY PHENOMINAL E-BAY SELLER AND EXTREMELY WONDERFUL PEOPLE. THANK YOU""

"Thank you for an easy, pleasant transaction. Excellent buyer. A++++++."

"Great transaction!"

"****SUPER HALF.COM CUSTOMER*****"





What about You?
Answer: You must be serious about buying this property, and are ready to pay a serious option fee and transfer cost upfront, and then follow through with your $640/month rental payments.
If you are not ready to make that commitment, please do not spend a lot of your time on trying to make this deal work.

You are buying this property "As Is, Where Is." It is being renovated and it looks good. The photos on the website are before I began any work on the home. I will post new photos onto the website listing as soon as I can.

Due Diligence
Agree with the Rental Agreement.
Agree with the Rent-to-Own Agreement.

Your Option Fee and $100 transfer fee are non-refundable

You are paying on the Option Fee / Down Payment of $5000.
The Total Purchase Price is $48,900.


If you default on your purchase contract, we have the right to take legal and/or collection action to collect the amount of your bid + any costs and any fees incurred by us, including costs of collection and/or damages. Jurisdiction for any dispute resides in Montgomery County, Alabama. Read the eBay rules and regulations if you have questions.


Other properties for sale can be seen at: Heart of Dixie Real Estate.

I also sell notes on properties that I own. If you are interested to buy notes on this house or other properties that I own, please email to me.

Sign up on the website for my newsletter on real estate in Alabama, including listings of properties for sale and advice on buying and selling homes.

Thank you very much,

Jon Gresham

P.S.: The photos of the house were taken before completion of the renovations. Kitchen is having new counters and cabinets installed. New plumbing, electrics, hot water heater are new. Ceilings were re-surfaced. Walls are being painted. Floors will be resurfaced.