RENT-TO-OWN SERVICE

How does "Rent-to-Own" Program work?
Rent-to-Own or Lease Option program is a relatively new concept that is becoming the most desired and popular way to purchase a home for individuals and families who are not yet quite ready to qualify for a loan most often because of credit problems.

Great for Buyers
Ironically, even if the potential buyers have the down payment, and can afford the monthly mortgage, if their credit is not what the lending institutions call for, they are out of luck.  Currently, because of the mortgage melt down, many buyers are having trouble qualifying for mortgage.  Many sellers are therefore stuck with the house they cannot sell.  Rent-to-own program is a great alternative for selling the house outright.

I specialize in helping individuals and families purchase a home 12 to 24 months ahead of loan qualification.  My service is to match the seller who are willing to participate in the program and the buyers who are ready to move into their future dream house immediately and be able to improve thier credit score, and save money for down payment while they enjoy living in their future house. 

Great for Sellers
Rent-to-Own program is great for sellers who are concerned about paying mortgages for empty house while the house is being marketed.  This program will help the potential buyers to move into the house immediately, so that the seller's monthly mortgage payments will be covered by the renter's monthly rent.  What about the possibility of the renter messing up with the house or even destroying the house?  What if the renters do not pay rent?  Those are legitimate concerns, and the main reason why sellers are hesitant to do Rent-to-Own program.  This is where the option money comes to rescue the situation. 

What is Option Money?
Option money is just like a down payment for purchasing the house.  Typically, anywere from 4-8% are asked to put down for the right to purchase the house down the road, typically, 1 to 2 years.  Option money is a right to excercise the option to purchase the house.  Therefore, the buyer is not bound to purchase the house.  However, if the buyer decides not to purchase the house, the buyer will forfeit the option money.  The Seller will get to keep it.  If the Buyer chooses to excercise the option, the option money will be used toward the buyer's down payment.  Clearly, if the buyer is willing to give the seller the option money, the buyer is serious about buying the home.  The buyer will be responsible for maintenance of the home, and it is very unlikely that they will miss payment or mess up the house because the option money is at risk for them.  Down payment savings program can also be implemented with this program, so that buyers will be sure to qualify for the home at the end of the lease. 

Great Alternative to Selling The House Traditional Way
If the sellers wish to sell thier house quickly and recieve a fair market value for it, Rent-to-own program is a great alternative.  Seller may wish to list the house in the MLS for a month or two, and if it does not sell, they can quickly switch to the Rent-to-Own program for the buyers, or they may wish to offer it to the Buyers in the first place.  

My Role 
Becasue I specialize in this end of market, I have potential buyers waiting for sellers to offer their house for Rent-To-Own program.  By identifying the right buyers to match the right sellers, I can make the deal work.  My role is a match maker between the buyers and sellers.  Depending on the situation, I am also qualified and ready to buy homes that are listed with me, so that buyers waiting for homes may move in as soon as possible.

For more information, please call me at 342-5670 or e-mail me at yoko.kashima@gmail.com at your convenience.

Yoko Kashima
e-PRO Certified
REO & Short-Sale Certified
Life-Time Real Estate Consultant
EQUISERV REALTY
Cary, NC 27519
(919) 342-5670 Direct Line
(919) 443-1114 Direct Fax
yoko.kashima@gmail.com