Discover a New Path to Home Ownership!
MeLisa Minter - Gold Agent
WELCOME TO A NEW PATH
Are you close to being able to buy a home but aren’t quite ready? Did you just move to the Houston Metroplex 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? This Lease with a Right to Purchase Program may be right for you.
SELLERS THIS PROGRAM CAN ALSO WORK FOR YOU
We can reach more potential buyers by marketing your home for sale and for lease with us. If a qualified renter is interested, the investors may BUY your home with a quick close and in cash!
You can simply pick any home that meets our criteria listed for sale in the MLS. This allows you to pick a home of your choice that matches your search criteria. I will work directly with you on finding the perfect home in your budget and location after you have been approved.
HOW THE PROGRAM WORKSOur investor 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 three years of rent certainty with only a one-year financial commitment on the lease.
APPLYINGIf you want to own a home but cannot currently qualify for a mortgage, or if you would prefer to rent a home now with the goal of purchasing it in the next one to five years, then this program may be for you. My investor doesn’t focus exclusively on your credit score. The full credit profile of your entire household is taken into account when they review your application to the program.
ADVANTAGESAs with a standard lease agreement, Our client requires you to sign a lease for a year and make a security deposit of two months rent. Unlike a standard lease agreement, you will have renewal options providing up to three 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 we serve – enabling you to live in a neighborhood today where you might not otherwise find a suitable home to rent.
KEY CONSIDERATIONSOur Investor buys homes in specific approved communities, so you can go to their website to see what communities are currently in their program. We will guide you in finding the right home in the right community in the rent to own program. Once you approve the purchase price in your Right to Purchase Agreement, that is the price at which you may purchase the home during the term of the lease, in accordance with the terms of the Agreement, whether the home is later appraised at a higher or lower value. If you do not purchase the home as provided in the Agreement, our investor may rent or sell the home to others when your lease ends.
LEASE AGREEMENTYour initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for three one-year periods, and you have the right to notify our investor 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.
RIGHT TO PURCHASE AGREEMENTYour Right to Purchase Agreement gives you the right to purchase the home you selected at a predetermined price for every year of your lease, as long as you have been in compliance with the lease, Agreement and other documents. You are under no obligation to buy the home.
- Credit Score of at least 525
- Current on all bills for the past 6 months
- Household income of at least $50K – Self employed ok with 1 year tax returns or recent P&L statement from CPA
- No Felony Convictions
- Bankruptcy must be discharged/dismissed
- Foreclosures are OK
- No evictions or rental collections
- US Citizens Only
- $75 application fee per household
- Deposit = 2x rental amount
WANT TO APPLY? Complete the Contact form below indicating that you are interested in our Rent to Own program. Please include your full name, email address, phone number, a little bit about what you’re looking for (area, price, style home), and how much you would like to pay in rent monthly. You will be emailed an invitation to apply within 24 hours. Meanwhile, feel free to contact me with any questions at 469-766-7379.
Move in as little as 30-45 days!
Information herein deemed reliable but not guaranteed. Simien Properties nor MeLisa Minter will be held liable for inconsistencies, disagreements or legal ramifications between the program and the prospective tenant/buyer.
Better Homes and Gardens - Gary Greene
1790 NASA Parkway
Houston, Texas 77058