Here’s Our Process
We prefer to start with a phone call to provide information on our rent to own program and answer any questions you clients may have. Best way to set this up is to have you do an email introduction to your client so they know we will be calling. Once we have spoken, we would set up a face-to-face meeting. You are welcome to attend both.
We use employment letters, two current paystubs, N4, NOA for income verification which will determine the budget. For self-employed, we can use three months of bank statements, NOA and/or invoices. We also require your clients credit reports which will help us determine the length of the rent to own term + a copy of their drivers license to verify identity. We cannot start looking at homes without this information.
Once we have all the required documentation, we will set a budget and pass the clients back to you to start looking. We will send an email to you, copying the clients on the proposed budget to ensure that there is no confusion. Once a home has been found, the listing should be sent to me so I can run the numbers on it and get an approval from your clients before we bring in an investor to work on getting the offer in on the property. If your clients have not approved the numbers, we will not move forward with an investor or offer.
Now that your clients have approved the numbers, will introduce you to an investor who will work with you to secure the property. We require inspection clause and usually 5 days for financing (although this could differ from investor to investor). We do not move forward without an inspection. The inspection will be your clients cost so please be sure to let them know. Your clients will be putting the deposit down on the property once we have an accepted offer. This deposit will become your clients down payment credit in our program if we firm up the offer and begin the rent to own.
Rent to Own Application