Selling
Learn How We Can Help
- Get your asking price! Since you're allowing the tenant/buyer to lease purchase the home, you get your price.
- Fill the house quickly. With the massive database of tenant/buyers that the Marketing Affiliates have access to, they can normally assign the option within 45-60 days.
- No commission fees! There are no fees to the seller and no agents. You pay nothing to the lease purchase specialist!
- Less maintenance! Most maintenance is up to the tenant/buyer and it is highly recommended that they purchase the Home Warranty.
- Tax benefits! You will receive benefits such as depreciation etc
- Largest market of tenant/buyers! With thousands of visitors per month looking for a lease purchase, there is a massive database of people that are very close to being ready to finance that need a lease purchase to finish meeting the lender’s guidelines.
- Better quality tenants! These aren't renters, these are tenant/buyers. They fully intend on exercising the option as soon as they can qualify.
- The tenant/buyer takes wonderful care of the property! Since they are buying the property, they take care of it and keep it well maintained. Plus, it is always recommended to them to purchase the Home Warranty to eliminate the repair worry and ensure necessary repairs are done.
Questions About Selling?
Every case varies some, but most tenant/buyers that come to us can actually qualify within 10-12 months. There may just be old just blemishes on their credit that need to be resolved or removed. If the tenant/buyers need to have discrepancies on their report resolved, we require that they begin the process with our partner lender Total Lending before they are able to move in. This way we know the process is started, and it reduces the amount of time needed before they can qualify for a mortgage.
Keep in mind, approx. 60% of the Tenant/Buyers that come thru us have great credit and strong financials, but they are simply self employed business owners that need time to get things in place with their CPA to obtain financing.
The tenant/buyers that are approved or that come to us are not what you would typically think of as renters. The people that come to us are great people with great jobs, but something has happened in the past that has caused them to feel as if they can’t qualify for a mortgage. Most of the people that come to us have been paying quite a bit to lease nice homes in nice neighborhoods for sometime. The family and kids are established in the neighborhoods and schools, and now the family is tired of leasing and ready to lease purchase, but they just need a small cushion of time.
This is highly unlikely, as the tenant/buyer has two major ties to the property. A financial tie, and an emotional tie. The financial tie comes from the fact that all of the money they have paid is non-refundable. This is normally thousands of dollars in most cases. The only way they will see that money again is if they close on the property. They would be better off to close on the property and then resell it themselves.
There are only three cases that we have come up with where someone may not purchase the property, and they are all pretty catastrophic situations.
- Loss of or transfer of job
- Death
- Divorce
We have purposely put everything into place in our program to get the tenant/buyer to close on the property. From the non-refundable option fee payment, to the large rent credits, to immediately putting them in contact with a mortgage broker.