Rent to Own - Rent to Buy - Rent 2 Own - Lease to purchase.... all these phrases mean the same thing.....
COUNTRY:
NEW ZEALAND - CLICK HERE TO FIND OUT MORE
AUSTRALIA - CLICK HERE TO FIND OUT MORE
– The try before you buy house buying system that really works.
- Ever wanted to own you own home but never quite had enough deposit or banks and lenders won’t give you a chance?
- Perhaps you wanted a system that you can try before you buy and can get your feet wet first before you have all the commitments of a mortgage over your head?
STOP PAYING DEAD RENT TODAY!
Rent to own has been around for over 100 years and is a great way to
beat the frustration of not being able get into the housing market.
We find that lots of people that are not able to get into property market
& here are some of the challenges they have faced:
• They do not have the 5 – 10% deposit required to get lenders approval.
• Impaired credit history (but have cleaned up your act since)
• Bankruptcy
• New immigrants and no credit or job history
• Businesses with less than 2 years trading history
• Do not like dealing with lenders lack of service or contact
• Recently changed job and lenders will not lend to them.
• Had the deposit and the market boomed and deposit was no longer enough.
• Spent the deposit on a car, home entertainment system, Family crisis
or holiday
Rent to own gives the opportunity to rent a home with the view to purchase it. Here are some of the advantages:
• The price of the home stays the same for the term of the rent to own
agreement even if the market price goes up
• Some of what you pay each week can be used as a deposit for the future purchase of the property.
• Gives you a chance to see if you like the home and system without all the commitments of a home loan.
• Unlike renting, the home can not be sold whilst you are making the weekly
payments
• You are building a consistently strong case for a lender to support
you in the future so if you are making payment on time every time, your
position is much stronger than if just renting.
• It is easy and not complicated so that you know you are taking another step toward home ownership.
How long does it take?
Around 10-15 days. This is the good part… Normally when you start looking
at buying a home it takes around 3-6 months to get into one from the time
you start with all the applications to the lenders, find a house to suit
your budget, wait for all the legal paperwork to be processed and then
wait for the settlement period to complete.
Using our “Rent To Own” system you simply fill in some paperwork and you could be moving in within 10-15 days from the time you fall in love with the house.
We have even had one family move in the same day as the paperwork was completed!
How much do I need to get into a Rent to
Own?
It really depends on the applicant, the more you have the hihger up the list you go when we are accepting applications ....
as there is a tough market out there (more people wanting homes than we can supply!) we process each application on its own merits, however we need to see serious people trying to get a kick start into housing.
Consider this:. it takes 5-10% before typical lenders will supply the funding to own a home and 4 to 6 weeks rent for Bond.
The more you put in... the lower the weekly amount can be or the more comes off the price of the home so that when you buy you have much more deposit built up.
-AND THE BANKS LOVE THAT!!!
For all enquiries 
US
Application Forms
From the horses mouth! - To You
Here is what the Real Estate agents have to say about how lease options work.... Find out more
Here are some features and benefits for the tenant/buyer:
- Faster equity growth: Equity accumulates much faster (five times or more!) than with conventional financing through a bank or lender.
- Rent money is working towards purchase: Every month a portion of your rental payment (typically $25-$100/week) is credited towards your deposit or off of the sales price.
- Option money is credited towards purchase: When you sign a Rent 2 Own contract, you will pay the seller an option fee. This money is your vested interest in the home and will be fully (100%) credited to you when you buy the home.
- Minimum cash out of pocket: When you purchase a home the conventional way, you must pay at least 5% down plus 5% closing costs (including stamps, duties, insurances and solicitors fees etc. When you buy with a Rent 2 Own, you only pay first month's rent and a small option fee.
- Frequently no more finance needed at settlement: Since you have given the seller an option fee and you have been receiving monthly rent credits, there will frequently be very little or nothing left to pay at settlement.
- Profits from appreciation: Since the sales price is locked in,(as specified in your agreement), any increase in property value will mean that your equity (what you owe minus what it's worth) is increasing in the home.
- Possible
sale for a profit: If you are allowed to sell (assign)
your option (it will be in your agreement), you may sell it to a
third party for a profit.
Increased buying power: When you buy a Lease 2 Purchase home, you
can put down as little as first month's rent and 1-2% of the purchase
price as an option deposit. Compare that to a typical bank or lender
who requires 5-30% down plus closing costs of around 5%.
- Credit problems okay + Easy Terms: Qualification restrictions simply do not exist. You will be approved at the sole discretion of the landlord/seller.
- No lengthy mortgage approval processes: Your approval will be based solely at the discretion of the landlord/seller and can be as litle as a week or two, instead of a lender who can take up to a month (or longer) to get a decision.
- Control of the home: You will be put in full legal control of the home for a specified period of time without actually having to own it.
- No taxes, less liability: Since you do not own the home (yet), you will not have to pay property taxes and your liability exposure will be dramatically reduced.
- Quick move in time: You can typically take possession of the home in a week or two (sometimes less), instead of conventional move in times of one to three months, after your offer was accepted.
- Maximum leverage: You are spending very little money to control a potentially very expensive, and very profitable, piece of real estate.
- Time: Before you actually buy the home, you will have 3-36 months (depending on your agreement) to repair your credit, find the best interest rates, investigate the home and research the neighborhood and/or schools.
- Minimal maintenance: Large maintenance problems or any maintenance problems that exceed a certain amount of money can be delegated to the landlord/seller.
- Privacy: Your name will not be on the deed or in the public records until you exercise your option to buy.
- Peace of mind: You will have full control of the home and can maintain or improve it however you wish.