If you choose to not exercise your option to purchase, that’s no problem at all. There will not be any penalty fees or charges issued. You can simply let the lease term expire and move on! That’s part of why purchasing a home this way is so attractive…flexibility!
How It Works
We sell all of our properties “rent-to-own”. What that means is that we lease the property to you for a specified period of time, during which you have the option to buy it from us at a price that we both agree upon when you first move in. This is a wonderfully flexible way to purchase a home, as you don’t have to qualify for a mortgage in order to move in, and all of your rent payments will go directly towards the payment of the home when you eventually buy it from us. You keep that money! Unlike traditional renting where your payments go into the Landlord’s pocket instead of into equity in your home.
It’s our goal to help you eventually get a mortgage so you can stop leasing and exercise that option to purchase. However, you are under absolutely no obligation to do so. That allows you the freedom to simply walk away from the lease if your situation changes for any reason (unlike purchasing a home traditionally where you are on the hook for getting the home sold yourself).
If you find yourself unable to qualify for a mortgage for any reason at all, buying your next home rent-to-own is a great way to retain the flexibility of renting, while still reaping many of the financial benefits of buying.
We are happy to walk you through the process in as much detail as it takes to get your questions answered. We want you to have all the information you need to make informed decisions, and we’re here to help provide it.
Reach out with any and all questions. We look forward to hearing your story and helping you purchase your next home!
Why Buy from Us?
Frequently Asked Questions
We want you to feel fully informed before purchasing a home from us. You can always reach out with additional questions, but this should give you a good place to start. Below you’ll find some of the most commonly asked questions that we see people asking and the answers we’ve found to be most helpful!
When purchasing a home with us, you are cutting out a a lot of what makes the buying process more expensive than it needs to be! We aren’t agents, so we won’t be charging you any kind of commission. And since you’re representing yourself there is also no buyer’s agent fee. Those two things can total 5-8% of the purchase price in costs, so eliminating them right off the bat puts you in a much better place than buying off the MLS.
We also have a great relationship with our partners, making closing costs far more reasonable than what you typically see in a traditionally listed purchase. And we even split that reduced price with you 50/50.
Our contract is viewed as a Purchase Agreement. You are buying the home from us! You will have the freedom to make upgrades and changes as you’d like. That’s not something generally afforded to people who rent!
Treat this home like it’s your own…because it is!