Purchasing Programs and Definitions

1. CASH PROGRAM
We will pay up to 70% of our appraisal and overall valuation of the home. The reason for this margin is so that we can pay for Realtor's fees, home and pest inspection, transfer and escrow fees, title insurance and title exam as well as holding costs for insurance, utilities, have interest payments for six months, and other associated costs.

2. LAND CONTRACT PROGRAM
The Seller continues to make mortgage payments until our Buyer moves into the home. The utilities stay in the Owner's name until our Buyer moves into the home. The Seller will have approximately $1,500 to $2,500 in closing costs when our Buyer refinances the home. Our Buyer is responsible for all maintenance and repairs on the property beginning the day they move in.

3. DEED TRANSFER PROGRAM
We will begin making payments directly to your lender one month after the deed has been filed in the courthouse. The Seller has no closing costs for this transaction except for the transfer fee of $4.00 per $1,000.00. We obtain our own insurance and usually pay the property taxes. The utilities are transferred to our name one month after the deed is filed in the courthouse. We request that the Seller pay us two months of mortgage payments. This is due to the fact that mortgage payments are always paid in arrears, and it will be necessary for us to have the carpet cleaned as well as other minor improvements or repairs. This option allows us to keep the property indefinitely until we refinance or sell the home.

Rent to Own Questions?   Please call  Theresa at: