How Does Rent To Own Work?

RENT TO OWN HOME PURCHASE REQUIREMENTS:

To start off, renting to own is an agreement whereby an investor rents out a house to a tenant and gives them the option to purchase the property after a certain period of time at a predetermined price.
In general terms, a rent to own contract consists of two agreements that run at the same time. The first is a lease that you sign on the property. The second is the purchase agreement, which sets out the purchase price that you agree to pay for the house in the future.

Benefits of Rent to Own

• You could get into the home of your dreams TODAY!
• Get into a Home and Cap the Future Purchase Price!
• Get into a Home even if your Credit is Bruised!
• Get into a Home today with a lower Down Payment!
• Get your Family settled into their neighborhood and Schools!
• You get your Credit Profile improved to meet Bank Lending Guidelines!
• Stop Paying Rent!
• CHANGE YOUR LIFE!

 WHAT YOU WILL NEED TO BUY YOUR HOME.. TODAY!

• Steady Income
• A desire to Stop Paying Rent!
• A desire to Repair any Credit Issues
• 3% or $10,000 Down Payment Required

Here is a summary of events which occur during the Rent To Own Program:

You work with your own realtor or one of our associate Realtors to find the house you want to own in the future…we do not have an inventory of houses to choose from.	Once your Funding Partner is located, we will draft the Contracts which contain the financing details of your Lease Purchase Program.
Our Underwriting department analysis your application to ensure you can afford the Monthly Lease to Own Payment and that we can formulate a plan to get you into Home Ownership in the future. Basically we make sure we can resolve the issues that make Banks say no today. Once we are confident you can exit our program we will send you a Rent To Own Program offer for your consideration.	You “must” take these Rent to own program contracts to your lawyer to obtain Independent Legal Advice (ILA)…it is mandatory with our program. Once your lawyer has given the “green light” you will need to sign and return the contracts.
If you agree to the terms of the Rent To Own Program, we then ask you to send us back a signed copy of your acceptance along with supporting documents for our review.	The Real Estate contracts are then signed between the Seller of the Property and your Funding Partner…remember…your Funding Partner will actually buy the house on your behalf and you sign contracts to become the future Home Owner using our Rent To Own Program
Once your lawyer has given the “green light” you will need to sign and return the contracts.
Once we are satisfied your rent to own program will achieve the end goal…a successful exit…we will find a suitable Funding Partner.	We close…you move in and we start working on the “Exit Strategy” put in place before you were approved your Rent To Own Program Contact Us Tel: 416 822 5886 Email: edwin.m@moneyvalue.ca Visit: https://moneyvalue.ca