The advantages to our Lease Purchase Program are endless.
If your credit is bad – this program gives you the time to clean up all your credit issues. If you have no credit – this program gives you a years’ paper trail. If you’re already renting from us you’re half way there – you buy the house where you live and you don’t need to move. You know exactly what you buy – no surprises.
LEASE PURCHASE NOW!
In today’s economy getting a mortgage is becoming more difficult for many people. In addition to this, the cash requirement to buy may be increased by 2-5%. All of this has to do with the “Sub-prime-Crisis”.
Our program will prepare you with enough cash to close and in the meantime give you a place to live… a place you can plan to buy whenever you qualify for a mortgage.
You have nothing to lose. You need to live somewhere, so rent from us and the opportunity for the option to buy is yours. You are under no obligation to buy… it is your option.
At the end of this lease, Lessee will have the OPTION to purchase the leased premises “as-is.” The purchase price shall be the appraised value determined by a neutral licensed real estate appraiser, chosen by a lending institution, or as agreed upon by the parties. The value has to be approved by both the “buyer” and the “seller”. This offer of option is made expressly contingent upon Lessee being current with all rent payments and any and all other charges and upon Lessee’s ability to obtain third party financing. Closing of the purchase shall take place not later than thirty (30) days after the expiration of the lease. Any balances in Lessee’s Security Deposit Account after all inspections have been made and costs of repairs have been charged against the account may be applied toward the purchase price of the premises. If all described conditions are met, Landlord will pay up to Ten Thousand ($10,000.00) Dollars toward Lessee’s loan and Closing Costs including but not limited to title insurance, loan origination fees and discount points, document preparation and closing fees, transfer taxes and recording fees.
HOW TO LEASE PURCHASE
This is a buyer’s market. Prices of houses and the cost of money (mortgages) are at a historical low.
Once you’ve signed your Lease Agreement you have the option to purchase the house you rent “as is” when you can qualify for your own mortgage. The Landlord/Seller will contribute from your monthly rent, *UP TO $10,000, toward closing assistance. This is unprecedented… no one is offering to help you financially like this!
The steps are simple:
1. Be approved and sign a Lease Agreement with The Real Estate Center.
2. Contact us as soon as you have decided to buy your house under our Lease Purchase program. At that time we will provide you with all the information you will need.
3. We will connect you with the Landlord/Seller’s agent who will walk you through the buying process.
4. Sign a Purchase Contract with the Landlord/Seller.
5. Close the Purchase of the house you are renting.
6. Begin your new life as a homeowner!
The Property will need to be appraised, usually by the mortgage company’s appraiser. If the appraisal does not meet the requirements, then the buyer or seller will have the right to cancel the contract.
*The amount offered to you in closing assistance is limited to $10,000. There are no exceptions. We do not pay over and above closing costs, repairs, real estate commissions, etc.