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> Rent to Own
post Aug 21 2008, 03:27 PM
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Group: Members
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Joined: 21-August 08
Member No.: 2,270

Hi Guys

I'm sure many of you have had customers that simply did not qualify for a home mortgage because they may have prior credit issues, no deposit, new to the country etc etc and were subsequently sent away and told to get a deposit together or get their books in order to prove income and so on.

Not all is lost because I can offer a home ownership solution WITHOUT having to immediately satisfy your lenders requirements. Over time, I help your clients by ensuring that they can demonstrate consistent payments, can build up enough of a deposit and can eventually be converted over into a refinance deal for you down the track.

quite simply helping your clients now, can help you and your clients down the track by 1) getting your clients out of renting and into home ownership and 2) helping you get a refinance deal.

I have a number of properties ready to go in most areas and when qualified, your clients can often move in in less than a week.

The way i structure these arrangements is I fix the sale price over the term of the agreement (often 1-3 years which gives the buyer peace of mind of no price increases over the term of the arrangement), a smaller deposit is negotiated with the buyer (often 3-5% of the sale price which comes off the balance), and a % of the repayments (also fixed over the term of the agreement) is further credited to the final balance. The buyer basically leases the house and has a fixed price exclusive option to buy the house down the track when they are ready and able to.

At the end of the agreement, the buyer has a number of choices. They can either exercise their decision to refinance at the previously agreed price (minus deposit and rent credits), OR, they can simply extend the agreement if they are not yet ready to refinance, OR simply walk away from the property (almost like a try before you buy arrangement...)

My background is as a property investor and I largely support people into home owhership, who for whatever reason, can't get a mortgage through the conventional means. If you feel your clients may benefit from this arrangement, please feel free to refer them to me directly so I can establish their needs and possibly support their transition into home ownership.

I look forward to developing these opportunities with you further and can be contacted directly on 0427537388.

House of Willis PTY LTD
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