This property is available on a rent-to-own basis.Would you rather Rent or Buy? Since you must live somewhere and the purchase payment equals your rent payment, you may as well buy a property and have your money create some equity for yourself.Due to an attractive employment opportunity, our tenants are moving out of state on a very short notice. Therefore house showings and interior photos will be added to this listing after the weekend of October 5th-6th. We are pleased to offer a gorgeous 3 bedroom, 2 bath colonial in Cleveland Heights. Recent renovations throughout the entire house include all new windows, a finished 3rd floor, a renovated bathroom, new vanity and medicine cabinet, new painting throughout, renovated kitchen and a partially finished basement.Size of home is 1250 sq + 600 sq ft for the basement plus 400 sq. ft for the 3rd floor. Lot size is 9600 sq. ft., and the 2 Car Garage is 360 sq. ftTwo Options to Purchase this home:1. Straight Sale using a bank loan for a purchase price of $79,000.2. Lease with an Option to Buy for $89,000. Use us as your bank to build up equity for the next 3 years.Terms for our Lease with an Option to Buy: An Option Consideration Fee of 5% ($4450) is due - fully credited towards the purchase price. Sign a Three (3) Year Rental Agreement at $945 per month. $200 from every timely monthly payment is credited towards the purchase price. After renting for three years, you would have earned the following credits towards your purchase: Monthly credits of $200 x 36 months = $7200. Option Consideration Fee paid upfront = $4,450. Total Credits Earned: $7200 + $4,450 = $11,650.Requirements for our Lease with an Option to Buy Program:We're taking a risk by carrying your loan for three years and paying all the taxes and insurance prior to you obtaining permanent financing. Therefore, all applicants must complete a $30 online TransUnion's Credit and Background Screening. Acceptance decisions will be based on TransUnion's recommendations. Applicants must not have had any eviction or charged with a felony during the past 5 years. A minimum Credit Score of 550 is required for the principal buyer -- as you'll need to reach 640 in a couple of years to be approved for financing. Total monthly household income should be at least 2.5 times the monthly payment.If serious, please contact Jonathan Fields, Fields Collins Properties LLC, A Better Business Bureau Accredited Business, 91 N. Main Chagrin Falls OH 44022. Tel: 216-647-7701.Rent To Own! 5% Down with $200 of every rent payment credited towards purchase price. Please see listing for details.
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