Lease With Opportunity to Own!
LEASE A HOME WITH RIGHT TO PURCHASE
Are you close to being able to buy a home but aren’t quite ready? Are you moving to or did you just move to Central Florida and aren’t sure where you want to live? Do you need to rent right now but really want to buy a home in a couple years? Home Partners’ Lease with a Right to Purchase Program may be right for you.
Home Partners provides responsible households with a clear and transparent path to homeownership through its Lease with a Right to Purchase Program. This program provides up to 5 years of rent certainty with only a one-year financial commitment on the lease.
As with a standard lease agreement, Home Partners requires you to sign a lease for a year and make a security deposit. Unlike a standard lease agreement, you will have renewal options providing up to 5 years of rent certainty and the right to purchase the home at a price established when you enter the Right to Purchase Agreement, in accordance with the terms of the Agreement. You can also select the home that you want to live in from those eligible and available for sale in communities Home Partners serves – enabling you to live in a neighborhood today where you might not otherwise find a suitable home to rent.
Your initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for [three/five] oneyear periods, and you have the right to notify Home Partners if you don’t want to renew the lease. Your full security deposit will be returned as provided in the lease if you decide to leave the home at the end of a lease period and have been in full compliance with the lease.
HOW DO I FIND A HOME ONCE I'M APPROVED?
As your Realtor, I will help you to search for homes that meet the purchasing criteria. Generally, this means that the home should be:
1. Located in an approved community (home is displayed on www.homepartners.com and is not adjacent to features that may negatively impair value);
2. Listed for between $100,000 and $450,000 in most states, though exceptions apply;
3. Located on a lot no more than two 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;
6. Free from material deficiencies;
7. No guest houses/ in-law suites with separate entrances;
Please note Home Partners will only purchase homes with swimming pools or other water features in certain states. At the current time, we purchase homes with pools only in Florida, Georgia, Texas and Southern California.
Once you have selected a home, I will submit it to Home Partners to get the process started!
- Stacy Padgett
- Todd Kramer
- Daniel White
- Tab Goguen
- Bellas Vlogs
- Andrew William Ross
- Stephen Mazzo