What could be better than cash? More cash of course!
Often time, when a home owner is trying to sell their home, there are two options
- Sell For Cash
- Rent the Property Out
The truth is, a lease option can be a fantastic second option, with just offering a straight rental as a distant third option. Just some of the benefits for the seller utilizing a lease purchase are:
- – Absolute top dollar for the property
- – No haggling, no negotiating with the buyer
- – No commissions which will save you 6% in most cases
- – Cash flow each month
- – Purchaser Obtains a Home Warranty Through Old Republic Home Protection
- – You are not responsible for any repairs other than what is covered by your insurance, such as storm damage, etc
- – Although we draft 12-36 month contracts, most of the buyers that come through our program get permanent financing withing 8-10 months, as they close as fast as they can.
How Can a Lease Purchase Help Me?
With lending guidelines tightening up, and a large number of houses on the market, it is going to take longer and longer to sell your house.
Our program is a great alternative to get cash flow coming in while the occupants are preparing for finance!
Problems Sellers Face
- Too many houses to compete with
- Not enough buyers
- Have to keep dropping sales price
- Not much equity
Problems Buyers Face
- Lending Guidelines tightening up
- Old or incorrect items on credit report
- Not enough trade lines
How we Solve it
- We expand your pool of buyers and draw motivation and demand for your home
- We work with a ton of buyers that need more time to qualify for financing.
- We have affiliate partners that can assist with credit and financing to expedite the approval process
Why a Short Term Lease Option?
If you currently own a home and have any interest in selling or renting it at some point in the future, selling as a rent to own can potentially put tens of thousands more in profits in your pocket.
If you’re renting, a rent to won almost completely eliminates all landlord headaches. Plus, right now there is a huge opportunity to apply this technique in today’s market
- Reason 1 : More Money and Top Dollar for your property
- You can typically sell a rent to own at the top end of what it is appraised for as-is, which is often more than it would sell for in the open market. When you sell a rent to own you can have an increased sales price and because there is no real estate agents involved, you will save on that 6% commission.
- When you offer a property on a rent to own, you first get what is called an up-front option payment. This payment is a nonrefundable, upfront payment that can range from 4% – 5% of your sales price.
- Reason 2: Cash Flow every month
- Many times you can increase the rent by offering rental credits on a property. Rental credits are applied towards the purchase price of the property.
- Get paid additional income while your buyer works on getting financing
- No Traditional Landlord Issues.
- When you’re a landlord, there is always a fear of something going wrong and needing fixed. With a rent to own, since the person is going to become the owner, the tenant is responsible for most maintenance of the property. Because the tenants are in a locked-in-option price, they feel responsible for fixing up their own home.
- Often times, your tenant buyer obtains a Home Warranty Protection Plan to protect again mechanical issues like(HVAC, Plumbing, and Electrical)
Here’s How it Works
Most people have credit scores between 560 and 620, but the lenders require a 620 or higher, which means you aren’t marketing to most people! One incorrect item can keep someone from buying your home! Many of the people that come to us for our program were turned down at the last minute for financing on a house, and need to address a couple of items, but they want to keep the kids in the school district and are serious about buying as soon as possible. This is NOT a rental situation as they are simply making the payments directly to you while preparing for permanent financing on your home.
We Help You Facilitate a Lease Option for your home
Get Top Dollar for your home
Our affiliate partners assist the tenant buyers with credit and the mortgage approval process
We typically see approvals between 6 to 9 months into the lease
While working on financing, they are responsible for the repairs
Cash flow passively while your tenant buyer obtains financing
What’s the Catch?
Well, it’s still time. We still need up to 12-36 months to work with and prepare our buyers for financing. In a perfect world, you could simply put your home on the market and sell it immediately. Unfortunately, we don’t live in a perfect world and everyone’s situation is unique. The bottom line is that if you have the luxury of willing to wait 12 months or less to sell your home while allowing us to work with the buyer during that time then we can cash you out at full market value for your home, all with no commissions or costs to you.
Please do not prejudge whether we can or can not buy your house. Many times sellers are amazed when we show them what we can do for them! There are many variations and possibilities in addition to the above mentioned solutions. So, fill out the quick form below and we will get back to you A.S.A.P. to discuss how we can buy your house.