Selling your property through a rent-to-own agreement is one of the easiest ways to get the price you want for your Lexington, South Carolina home, even if you’re struggling to find a traditional buyer. The process can be simple, fast, and flexible. In many cases, you may even find your buyer among your current tenants.
At Table Rock Homebuyers, we help Lexington, South Carolina homeowners explore creative solutions like rent-to-own or direct cash sales to achieve their goals — without the stress of repairs, listings, or waiting for months.
If you’re curious about how to structure a rent-to-own home sale in Lexington, South Carolina, here are the three key steps to make it happen successfully.
Step 1 – Find the Right Tenant-Buyer
The success of your rent-to-own agreement depends heavily on finding a reliable, trustworthy tenant. Remember, you’re delaying your full payout in exchange for a higher sale price or steady income, so you’ll want someone who’s committed to eventually buying the home.
Start with people who already have a proven track record, such as long-term tenants who have taken good care of your property. Make sure your tenant-buyer has stable income and is serious about ownership.
Pro tip: Ask potential buyers for proof of income and a credit improvement plan so you can feel confident they’ll be able to qualify for financing when the time comes.
Step 2 – Run the Numbers and Protect Your Bottom Line
Before you commit to a rent-to-own structure, take the time to analyze the financials. Unlike a traditional sale, you’ll receive your proceeds gradually, so make sure the deal makes sense long-term.
Here’s what to consider:
- Option Fee: A non-refundable deposit that gives the tenant the right to buy later.
- Monthly Rent: Often slightly above market rate, with a portion applied toward the purchase price.
- Ongoing Costs: You’ll still own the property during the lease, so make sure rent covers taxes, insurance, and maintenance.
- Purchase Price: Lock it in now, or agree to base it on future market value. Each option carries its own risk and reward.
Some homeowners in Lexington, South Carolina prefer locking in today’s price for security, while others allow flexibility if property values are rising.
Step 3 – Set Clear Terms and Get It in Writing
Once you’ve found your buyer and the numbers make sense, it’s time to finalize your rent-to-own agreement. This is where details matter. Work with a real estate attorney familiar with South Carolina law to ensure your contract protects both parties and prevents future issues.
Be sure your agreement clearly defines:
- The down payment amount or option fee
- Monthly rent and how much applies toward the purchase
- The purchase deadline (typically 1–3 years)
- Maintenance and tax responsibilities
- What happens if the tenant defaults
Having everything spelled out upfront avoids disputes and keeps the process smooth from start to finish. When handled correctly, a rent-to-own arrangement is a great way for Lexington, South Carolina homeowners to sell quickly while earning steady income in the meantime.
Explore All Your Selling Options with Table Rock Homebuyers
At Table Rock Homebuyers, we help homeowners across Lexington County, including West Columbia, Irmo, Cayce, and Red Bank, find the best selling solution for their needs. Whether you want to structure a rent-to-own deal or prefer a fast cash offer, our team can guide you every step of the way.
Call us today at 864-272-5400 to learn more about selling your Lexington, South Carolina house quickly and on your terms.