GREAT HOUSE IN EUCLID - 3BR/2BATHS RENT TO OWN - OPEN HOUSE SUNDAY 3-4PM - OPEN HOUSE SUNDAY SEPTEMBER 22ND 3-4PM
THIS OFFER IS FOR DESERVING TENANT BUYERS WHO HAVE GOOD CREDIT AND A $1500 DOWN PAYMENT.
We are pleased to offer 23800 Puritan Ave. Euclid OH 44123, one of our most attractive single family homes.
Property features, 3 bedrooms, 2 baths, a semi finished basement, a rear fenced in yard and a 1 car detached garage.
Since we have an underlying loan that must be paid off in 3 years, the property is offered as a Rent to Own (or an outright purchase) and NOT as a regular rental.
Two Options to Purchase the House:
OPTION 1:
$1500 Down Payment, $895 per month - A 3 YEAR LEASE WITH AN OPTION TO BUY
1. Purchase price is $74,000.
2. $1500 Option Consideration Fee INSTEAD of a Security Deposit. It is fully credited towards the purchase price when you actually buy the property, but like a car purchase, non refundable if you walk away from the deal.
3. Rent the House for 3 Years at $895 per month.
4. If you pay your rents on time and purchase the property before the expiration of your 36 month lease, you will receive a $3000 seller concession which can be used towards the purchase price, the down payment, or for any future upgrades you may be wish to implement.
5. Pets: One dog (less than 45 lbs) OR one cat will be allowed.
Pet security deposit: $200 – refunded upon purchase of property.
Pet rental amount: $50 per month.
OPTION 2:
AN OUTRIGHT PURCHASE FOR $69,000.
If you have good credit and stable income, then consider this option as banks will stretch payments over 30 years at a low interest rate.
As an example, a $65,000 Loan at 5% over 30 years results in a monthly payment of $348.93. Add taxes and insurance and your total housing costs should be under $600 while the property is YOURS.
Tenancy Requirements:
All applicants over 18 years must complete a $30 Credit, Criminal and Eviction Screening. If the first person in a couple gets approved, then we will cover the cost of the second $30 application.
Tenancy decisions will be based on a COMBINATION of the following criteria:
1. A minimum of 2.5 times verifiable household income compared to the property's rent.
2. Most emphasis will be on your credit and criminal history. Credit screening will include timely payments, delinquencies, number of collections, past judgments, no evictions and no bankruptcies in the last 5 years.
3. Criminal background: No drug related felonies, no sexual predators and no crimes against children. No felonies or imprisonment for felonies within the past 10 years. No crimes against properties and landlords - to include theft of materials from properties, arson and vandalism.
4. A minimum of a 575 credit score for an applicant or for a co-signer.
5. Please No Section 8.
If you viewed the property in person and wanted to reserve it, a $100 Reservation Fee for 48 hours (fully credited toward the first monthly payment) will be due.
QUESTIONS? please email us by clicking the link at the top of the page. We reply to inquiries and concerns IN WRITING ONLY as we want to be as fair and consistent to all prospective residents. SE HABLA ESPANOL.
(RLNE5161668)

23800 Puritan Rd

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