The pathway to homeownership is truly simple and our team of REALTORS are here to guide you and help you along every step of the way.
The first step is to apply for the program. To begin the application process, first review the qualification requirements here on our website. Once you have done that, then complete the pre-qualification application which will let us know if you are a good candidate for the program. We will be notified of anything that may look like a red flag on your formal application. If all is good to go, we will require a consultation in our office where you to complete the full application. The fee's for the full application will be $75 and covers all potential residents that will be living in the household 18-years old and above. It is payable via credit card or cash only.
Your full application is processed within 1-4 business days. If approved, our investor group will notify us of the maximum lease Dollar amount amount that you qualify for.
Now that you’re approved, we take the max lease that you are approved for and put that into a calculator to see what the budget is for the home purchase. You then meet with the our team and begin your home search!
We will start sending you qualifying homes that meet the minimum criteria of our investors. Not all homes will get approval. Our investors want to make sure they are buying a home that you will enjoy living in and that they feel good about leasing.
Once you find the home and neighborhood that fits your dreams, we will submit the home for approval. Included with the property submittal is a “renovation checklist” that you will complete along with repairs or upgrades you would like done to the home. Home approval generally takes less than 24-business hours. When the home is approved by our investors, a lease will be prepared and sent to your email for your review. When you have approved of the lease and the monthly lease payment, we will submit an offer to buy the home from the seller.
We will work closely with our investors to negotiate the cash purchase of the home that you selected. The seller may take our first offer or may chose to negotiate the sale of the home. Our investors have every incentive to get the home at a very fair price and will not over pay for a home in the given location.
Once a purchase price is agreed upon between the investors and the sellers, our investors will ask you to sign the lease, the right to purchase agreement, and ask for the security deposit within 48-hours. The security deposit will be a total of two full months rent The security deposit will be placed in escrow until closing and will be returned to you in the event the sale is not finalized. If the home inspections turn out terrible our investors will cancel the contract refund your deposit and we will begin looking for a new home. Our investors will be certain to only purchase homes that are in safe working order so you know you won't be buying a lemon of a home later.
However, should you back out of the lease after the investors have negotiated the contract and you have signed your one year commitment to lease, you may stand to loose your deposit so you need to know that this is a serious real estate transaction our investors will be handling.
Generally, since our investors have a huge advantage of paying cash for the homes, we are able to close on a home within 30 days or less. Once closing has occurred, the investor will take a few days to get the home “move in ready” which will include fixing major items noted on the home inspection along with any items that are required for the safety of their new tenant which will be you. Typically, this can take anywhere from 10-to 15 days depending on the extent of the work that needs to be done. Don’t worry though, you’ll know your move in date before we place an offer on a house.