Frequently Asked Questions

How do we decide on a Purchase Price?

We will provide a Comparative Market Analysis that shows all recent sales activity in your area just as an appraiser would.  If you owe more than the market value then you will need to consider a long-term Option in order for the equity to catch up for the Tenant-Buyer.

What if the property doesn’t appraise when the Option is exercised?

You’ll have two options: Lower the purchase price to the appraised value Extend the term of the Option until the home appraises at the Purchase Price.

How do we decide on a monthly lease payment?

The monthly payment will be either the market rent for your neighborhood or your mortgage payment.  It will depend on the term of the agreement.

What if the Tenant-Buyer Doesn’t Pay?

This is not likely because we’ve screened the Tenant-Buyer and know they are responsible and can afford the rent.  However, it is a risk so we set up auto-draft payments so everyone knows that payments are made on time and gets a receipt.  The Lease Agreement addresses the specifics of Tenant default and outlines the protections of the Seller.

Who is responsible for the upkeep and maintenance of the house?

After 30 days the Tenant-Buyer is responsible for 100% of maintenance and repairs.  If the Tenant-Buyer want to make improvements they can at their cost and with your approval.

How long will it take to find a Buyer?

It depends on the price point, neighborhood and school system.  If you’re in a good neighborhood with good schools and your price and rent are in line with market it should be a quick process.