Hi; I’m Anna Carbonell the Realtor Next Door today I’m looking at some properties for clients of mine. They are looking into a Rent to Own Program that we are partnered with our broker’s office. My clients are not able to purchase a home at this time on their own, the solution we decided would be to discuss a possible Rent to Own option. A quick cap on this program is as follows…apply and get approval for a set amount, then find a property at or below the approved amount, make an offer on it on behalf of our National Rent to Own partner. The national Rent to Own partner would purchase said property, after due diligence of inspection period and the appraisal of the home. Once property closes clients are given the keys to the house and the ability to Rent the Home for up to three years with the option to purchase. Home rental would be based on the average rental amount in that city Plus an additional fee that would be deposited into an escrow account. On the anniversary date of 3 years the client has the option to purchase home with the savings from the escrow (Usually 5% to 10%) or walk away minus a small fee.
This is a great program to rent and save at the same time for those not ready to purchase or are saving to purchase a home. If this is something that you may be interested in, please feel free to contact us.
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