The Challenge
Many people want the benefits of living in a single family home. However, whether they're a first-time homebuyer who's cautious about making such a large financial investment, someone who has recently relocated and is unsure of which neighborhood to live in, or someone who is creditworthy but cannot currently obtain a mortgage, they hope to one day buy a home but aren't ready now.
Home Partners Solution
Home Partners provides the opportunity for people to move into a great home and community today that otherwise may not be available in the rental market.
Home Partners' Lease with a Right to Purchase (also known as Rent to Own) Program allows you to find a home that you want to rent from us initially, but may also like to buy in the next three to five years. We believe that there are many households who may be thinking about buying a home, but for whatever reason would like to rent at the current time. You can lease the home for three to five one-year terms, depending on the state, and you may purchase the home from us at any time at a predetermined price.
How It Works
Qualified prospective households will work with a Dream Living Orlando REALTOR® to find a Home Partners qualified home. Once a home is identified and approved by Home Partners, Home Partners will attempt to purchase the home - the outcome of which will depend on certain conditions being met such as agreeing on a purchase price with the seller, a satisfactory inspection, attorney review of the purchase contract, and other closing conditions being satisfied.
Once Home Partners’ offer for the home is accepted by the seller, prospective households will be required to sign a one year lease for the home as well as a Right to Purchase Agreement.
The household has the right to purchase the home at any time during their residency at the pre-set purchase price. If the household chooses not to renew the lease, they can walk away without penalty.
Why It Works
Home Partners’ approach provides meaningful benefits for prospective homeowners, the communities it serves, and the real estate community.
Process
Prospective households start the process by filling out a Pre-Qualification Application that checks key issues. If the Pre-Qualification Application is approved, the prospective household will be required to submit a Full Application for a full credit and background check. If a Full Application is approved, Home Partners will outline the maximum monthly rent of the home for which the prospective household qualifies. This Rent to Own option could be exactly what you need!
Available Rent to Own Homes - Quick Searches:
Rent to Own Homes in Windermere
Rent to Own Homes in Winter Park
Rent to Own Homes in Mount Dora
Rent to Own Homes in Altamonte Springs
Rent to Own Homes in Lake Mary
Rent to Own Homes in Winter Garden
