Has your "American Dream" turned into a nightmare? No matter where you turn to try to buy a home you're always "turned down". There is a wonderful answer to your struggle for home ownership. It's called Lease Purchase. You're probably like most people who have a good job, good rental history, and could pull together $3,000 or $4,000, but you have a few glitches and blemishes on your credit report -- maybe just some slow pays, a car repo, or maybe some other type of credit problem. Because you're not an "A" credit borrower the mortgage companies are telling you that you need 10% or 15% down payment (that's a lot on a $100,000 home), closing costs (another 3% of the loan amount), plus you're going to get a high interest rate! After hearing that a few times most families throw in the towel. As you will see below, the Lease Purchase Program we offer will turn your bad dreams into a real dream come true.
Lease purchasing is really starting to be the right answer in home ownership again. Although lease purchasing has been around for a long time, not many real estate professionals were sold on the concept or knew enough about the advantages it had to offer both seller and buyers to be.
In the past lease purchase programs required anywhere from 3 to 5 percent down which went towards the purchase. Well, on an average sales price of $250,000 that could be as much as $7500. IN addition, you were looking at a much higher payment schedule than a traditional loan payment would be.
No more living in the past! Now you can put down as little as $700.
retainer fee to get started. We have a pool of investors who will negotiate
and purchase the home of your choice on your behalf. You will be locked
into today’s market value prices and gain all of the yearly equity
increases to keep for yourself. We believe in sharing the wealth while
sharing the opportunity.
PLEASE NOTE:
Some restrictions apply so call us today and find out how you can get
started living the dream..
Please read, fill out and fax back the retainer fee agreement. ( click the step one button ) to obtain the retainer fee agreement
Pay the retainer fee of $700
(click on step two button now)
Get a pre-qualification completed by calling one of our preferred lenders. Be sure you inform them that you are part of the lease/purchase program through Vision Quest Realty.
Q-Once I
complete the 3 steps how soon can I start looking at homes with-in my
price range?
A-Usually with-in 48 hours from the time we get confirmation from our in-house lender of your price range we will assign you to a buyer's agent and get you out looking at homes in your area of interest.
Q-Is there a way to look at some properties before paying a retainer fee? We just want to make sure there are properties to our liking before spending the money on the program.
A-Yes!
We will usually offer that right up front for you when you call.
We want to make sure as well that there are plenty of properties
available in your areas of interest as well as your price range.
We'd rather let you down now than later. We believe in providing a
quality service you deserve.
Q-How long does it take before
I am able to actually move into a home?
A-Once we are able to locate a home that fits your needs you can expect about 30-45 days, provided all parties are satisfied with the final price/terms of the home with the seller(s)
Q-What does the retainer fee go towards?
A-The retainer fee gets applied towards your down payment.
Q-Are there any additional fees or hidden cost besides the retainer?
A-You are
required to pay for your own home inspection this is for your
protection. If there is something wrong with the home we can get the
seller to fix or replace something before you move in. In some cases the
seller may require an additional
down payment. Your assigned agent will inform you of this amount. This
is an option for you to put additional money down, but not a
requirement. Keep in mind, if we can not meet the terms of all parties
involved we will move on to another suitable property. Any required fees a lender
would charge to provide you with a pre-qualification letter would be
extra. When speaking to one of our in-house lenders be sure to ask before
having them go to work for you.
Q-When the
property goes up in value each year are we going to be charged the
appraised amount of the home when we buy it or will we be locked into
the original price we started with at time of contract?
A-You will only be charged the original sales price that you agreed to pay at time of contract. Example; once you pick out a home that we are able to buy on your behalf you will be locked in at that price. So lets say your price was $150k and 24 months pass and it is now time to refinance the home into your name because your credit has been re-stored. The appraisal comes in at a whooping $162k. That additional equity of $12k is yours to keep you earned it!
Q-We don't feel comfortable paying on line to someone we never met. Is there anyway that we can meet with a staff member in person before signing up?
A-Absolutely! Although, we are all home based which keeps our overhead cost down; we understand this being a concern. We will be more than happy to have one of our licensed agents meet with you in person. We can arrange a meeting time and place, talk over coffee and go over the program completely. Once you feel assured that this program is right for you we can finalize everything at that time as well.
Q- What kind of interest rate will I be looking at once I am able to move into the house?
A-There is no interest rate during the lease part of the purchase. It is only after you re-finance the property into your name is when you will have an interest rate. The rate will be determined by the lender which is based off the current market rates at that time as well.
Q- Can we look at any home for sale or are we restricted to certain homes?
A- We primarily focus on " for sale by owners", & in-house listings. Foreclosures would not be ones to look at since they need extensive repairs. New home construction would only be considered if the seller was willing to provide lease purchase or owner finance terms since there is little or no equity in new construction.
Q- Can we look at New homes as well?
A- Yes, provided the builder is willing to offer lease purchase terms/Owner Financing.
Q- Can we consider a HUD home and Or Foreclosures?
A- No, these are both bank owned properties that are sold " AS IS" condition. Our investors are not going to pay for repairs & fix up in order to place a lease purchaser in the home.