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Before you buy a second home, get clear on how you want to use the property. ... You could buy a home to flip and sell for a profit or use it as a short- or long-term rental property. Vacation ...
Doing so helps ensure your vacation home purchase is a wise investment that stands the test of time. Here are 15 things you must do before buying your second home. ... for short term rentals ...
“Exploring short-term rental options could be a savvy move for anyone eyeing a vacation home purchase,” says Johnson.”They can help offset the costs of owning a vacation home by generating ...
Lease purchase agreement (click to view pages) Rent-to-own, also known as rental purchase or rent-to-buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, engagement rings, and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during ...
Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.
A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1] As a minimum, the agreement identifies the parties, the property, the term of the rental, and the ...
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