72 Shady Lake Rd, Tarboro, NC 27886

REALTORS WELCOME!

RENT TO OWN! Beautifully updated manufactured home offered as a Rent To Own with Seller Financing, Dueno-a-Dueno! This home features tasteful cosmetic updates, a brand new metal roof, spacious rear yard & deck, and so much more. Situated on .47 acres in a convenient location of Tarboro, close to both Rocky Mount & Wilson. Come have a look at this lovely home today!

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Price: $175,000
Down Payment: $20,000
Estimated Monthly Payment: $1,550 - $1,650/mo
Income Requirement: $6,000/mo

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Bedrooms - 3

Bathrooms - 2

SQFT - 959

Home Type- Manufactured Home

Heating/Cooling Type- Central HVAC

Acres: .47 Acres

More Information

Address: 72 Shady Lake Rd, Tarboro, NC 27886

Price: $175,000

For more details contact:

Michael Agins

919-307-6292

MichaelAgins@outlook.com

Financing will be offered with an 8 year Rent To Own program and then remaining balance will be seller-financed on a 30 year fixed traditional mortgage. No bank required!
Down payment will be $20k, payment plan available, will be applied toward sales price.
Monthly payments will be between $1,550 - $1,650/mo during the Rent to Own period of 96 months. During this time, the Buyer shall receive a credit of $300 per month from each payment made, to be applied toward the purchase price at the end of the Rent to Own period.
At the end of the 96 month Rent to Own period, title will transfer to the Buyer via closing attorney. The Seller (us) will carry the financing for the Buyer at that time on a 30 year fixed traditional mortgage. The Buyer will be credited for their down payment plus rent credits owed per the contract. The Buyers monthly payment will also decrease at this time.
Recently Renovated
Home & land included
This home was rennovatated within the last 12 months by the previous Owner. It has not been lived in yet, so everything is in like-new condition. The data plate & HUD Cert is not available with this home, so traditional bank financing is not available. We provide long term seller financing for qualified Buyers that are looking for a path to home ownership!

Frequently Asked Questions

How do I qualify? Do you look at credit score?

Once I own the home, can I make changes to it?

How do taxes & insurance work?

Will my monthly payment ever change?

Your monthly payment is made up of 5 items typically: Principal, Interest, Taxes, Insurance, Servicing Fee. The principal & interest portion will never change. Taxes may change if the city or county changes the tax rate over the years. Insurance may change from year to year as the home gets older or you make updates to it (such as new roof, etc.). Insurance is the biggest variable typically and you are able to shop around for the best price and change policies at any time. The Servicing Fee will is subject to change if the servicing company changes their fees.

How does the pricing & interest rates compare to the market?

Generally speaking, we are providing a pathway to homeownership to home buyers that wouldn’t otherwise have one. We always tell prospective clients that if they can get a bank loan, that is going to be their least expensive option. However, because we take on some risks with this type of transaction, we will typically charge a moderate premium on the mortgage interest rate as well as the sales price of the home (versus if you were paying cash for the property we are selling).

Are there any reasons I should not purchase an Owner Finance home?

What happens if I miss payments or default on the mortgage?

The most important thing is communication. Even if you are late or have a missed payment, it is best for you to reach out to us or the loan servicing company as soon as possible to discuss any potential options. We will often try to work with you so you can stay in and keep the home. As a last result, we reserve the right to foreclose on the property, but this is only after all other options are exhausted.

**Disclaimer **

We make no representations or disclosures about the property. Often times, we have not owned the property very long and do not have much information on it. We have not hired a licensed inspector to assess the property. It is important to do your own due diligence and utilize any 3^rd party professionals you wish to determine if the home is right for you & you are clear on the condition of the property. Should we have any reports on the property, we will provide them to you up front. You must complete your due diligence BEFORE entering into a legally binding contract with us and placing your deposit. One or more members of our team are licensed real estate agents, however, we represent you in no capacity. Any and all disclosures shall be provided if the Seller is a licensed Realtor. Should you desire representation, it is advised that you retain your own Realtor or other representative of your choosing. Homes are sold as-is we are not licensed mortgage broker/lenders in the state of North Carolina.

Sample Documents

These sample documents are solely for informational purposes. Actual purchase documents may vary from transaction to transaction.

Buyer Purchase and Loan Process

Loan Application

Offer to Purchase and Contract

Seller Financing Terms Addendum

72 Shady Lake Rd, Tarboro, NC 27886