You Can Own The Home Of Your Dreams
The lease with a Right to Purchase Program allows you to find a home that you want to rent initially, but may also like to buy in the next three to five years. There are many households who may be thinking about buying a home but for whatever reason would like to rent at the current time. You can lease the home for three to five one-year terms, depending on the state, and you may purchase the home at any time at a predetermined price in accordance with the Right to Purchase agreement. You are only obligated to the first year lease, Once the one-year lease is fulfilled you do not have to purchase or continue to lease the home. Monthly rent payments are not applied to the purchase price of the home.
You should work with Tamara to search for homes that meet the purchasing criteria according to the program.
Generally, this means that the home should be:
1. Located in an approved community (not adjacent to features that may negatively impair value);
2. Listed for between $100,000 and $550,000 in most states, though exceptions apply in California, Oregon, Virginia and Washington.
3. Located on a lot no more than three acres with a minimum of two bedrooms;
4. A single family home or fee-simple townhome; condo associations, condo interests, commercial
and multi-family properties are not eligible for the RTP Program;
5. A traditional sale. Short sales, auctions, and REOs are not eligible for the RTP Program; and;
6. Free from material deficiencies (e.g., major structural issues, pervasive mold, etc.);
7. No guest houses/ in-law suits with separate entrances;
Once you have selected a home, let Tamara handle the rest.
On average, it takes approximately six to eight weeks from the time the realtor enters into a purchase agreement for a home until the day you are able to move in. There are a number of variables that may affect the move-in timeframe, including the length of negotiation with the seller leading up to when we enter into a purchase agreement, what the home inspection reveals with respect to required repairs, and the renovations you request. We will keep you informed throughout the entire purchase and renovation process so that you are aware of this timing.
Still Interested? Email Tamara at: email@example.com and she will go ahead and send you the link to apply for approval. Good luck and If you have any questions or concerns please call Tamara directly at:
Coldwell Banker Real Estate
::: The Griffin Group :::
YO HABLO ESPAÑOL
2201 W Swann Ave #100.