Your Local Wilmington Real Estate Partner
Hello, I’m Jonathan!
I’ve lived in Wilmington since 1995 and began investing in real estate in 2004 after leaving the corporate world.
I’ve also served on the board of the Coastal Carolina Real Estate Investment Association to support local investors and promote real estate education.
As a Broker with Sea Gate Realty, my goal is to help homeowners sell their house fast. Even if it needs repair, despite the situation you are in.
Here’s How I Can Help…
Help You Explore Your Options
Are you unsure about buying a Wilmington home right now? Or you just want to live in a home first and think about it later. Don’t worry. I’ll help you understand the options you have right now.
Connect You with Affordable Homes
Finding a home that fits your budget can be hard. So, let me help you. I focus on homes in Wilmington that offer flexible ways to move in without a big upfront payment.
Simplify the Paperwork and the Process
Moving to a new house or converting it to a Rent-to-Own requires a lot of real estate papers. And it can get confusing! If you need a little assistance, I can help you manage them.
Offer Ongoing Support and Expert Advice
Just need someone to talk to about your home? I’m willing to share my expertise with you. Even after you move in, I’m here to answer your questions and help you take the next steps.
Are you ready to rent-to-own a house?
It’s OK to Message Us!
Why Is Rent-to-Own a Good Idea?
Rent-to-own is a smart way to move into a home without needing a full mortgage right away. You rent and live in the house while preparing to buy it later, giving you time to save money and improve your credit. It also benefits sellers who get steady rent and a good chance to sell to someone who cares for the home. Here’s a deeper look:
For Buyers
It makes getting into a home easier because you don’t need a full mortgage upfront. You get time to improve your credit score or save money while living in the house.
For Sellers
You get steady rental income and someone who cares for your home. It can also mean a sale later, since the renter plans to buy.
For Both
Rent-to-own lowers moving hassle because buyers live in the home while preparing to own it, and sellers avoid empty properties with no income.
Bottomline: Rent-to-own offers a flexible way to move toward homeownership by living in the home while saving and preparing to buy, making it easier for buyers to get started and giving sellers steady income with fewer risks.
Frequently Asked Questions on Frustrating Tenants
What if I want to rent now but am unsure about buying?
Rent-to-own gives you the chance to try living in the home first without rushing into buying. As a buyer, this helps you make a confident decision about ownership after experiencing the home and neighborhood.
For sellers, it means having a tenant who intends to buy, which can reduce vacancy risks.
How does my rent payment turn into part of the home purchase?
In most agreements, part of your rent goes toward building credit for your future down payment. This helps buyers save gradually while living in the home, making it easier to afford purchase costs.
Sellers gain steady rental income with the potential of a future sale, offering financial stability and commitment from the tenant.
What if I decide not to buy after renting?
Buyers usually have the option to walk away, but they risk losing any rent credits or upfront fees paid.
For sellers, this means they keep the option fee but regain control to find another buyer or renter, so it’s important both sides understand the terms to avoid surprises.
Who is responsible for repairs and maintenance during the rental period?
Responsibilities vary by contract. Buyers often handle minor repairs and day-to-day upkeep since they’re preparing for ownership.
Sellers usually take care of major repairs like structural issues. Clear agreements help both parties avoid disputes about who handles what costs.
Can I make improvements to the home while renting?
Buyers might want to make changes or upgrades, but they should always get the seller’s approval first. While improvements could increase the home’s value, buyers might not be compensated if they don’t complete the purchase, so discussing this beforehand is key.
What happens if the buyer can’t get a mortgage when it’s time to buy?
If financing falls through, buyers may lose their option to purchase and any credits paid.
Sellers then can look for other buyers or renters. This risk encourages buyers to improve credit and finances during the rental period to increase their chances of mortgage approval.
How long do these agreements usually last, and what happens afterward?
Typical agreements last 1 to 3 years, giving buyers time to prepare financially and emotionally. At the end, buyers decide whether to complete the purchase or walk away. Sellers get paid rent in the meantime and have a potential sale lined up, but if the buyer opts out, the property is available again.
Read About Selling and Buying Homes in Wilmington
You might find these helpful on your journey:
- 3 Steps To Selling Your Property Via A Rent To Own Agreement In Wilmington
- How You Can Find Free Rent to Own Home Listings in Wilmington
- How Do Rent To Own Homes Work In Wilmington?
More Resources About Rent-to-Own
- North Carolina Housing Finance Agency — How to Rent to Own
- University of California Berkeley Terner Center — Lease-Purchase Homeownership Models
- North Carolina Department of Justice — Rent-to-Own Consumer Protection
Connect With Us
Feel free to reach out with questions or just to talk about your options. Whether buying or selling, there are ways to make it all easier and less stressful.
You can fill up the form below or contact us at (910) 538-7737.
