Frequently Asked Questions
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.
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.
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.
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.
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.
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.