Rent to Own
(Note: For a successful Rent to Own purchase, a minimum of $5,000 option money is required to start the Rent to Own Process.)
Did you know only 2% percent of Realtors® in the nation really know how to properly structure a rent to own agreement! Your Bloom Realty experts fall into that top 2%. We know how to do it right, so it's a win-win for both Buyers and Sellers. Negotiating, structuring, and executing a rent to own contract is one of our core strengths which we offer our buyers and sellers through our Lease Option Purchase program. This unique Lease Option Purchase approach is exclusive to Bloom Realty and because of how it is structured we have a much greater success rate than average rent to own agreements.
- Regular rental scenarios can be risky for homeowners. Let's face it--renters can be a homeowner's nightmare! Most renters don't give your home the TLC you do and for most homeowners renting their property is a last resort if they cannot sell their home and it can turn out to be an expensive experience.
- For buyers, a Rent to Own or Lease Option Purchase approach is an attractive option for buyers to own the home of their dreams. With mortgage approval guidelines stricter than they have been in years, many sellers and buyers are now open to exploring this viable solution to home ownership.
Rent to Own (Buyers)
- Every month you pay your Rent to Own payment on time and in full, your credit is improving. With help from our professional credit team who will maneuver you through the ropes of the credit maze, you will be amazed at the progress you achieve in reaching the credit score necessary for qualifying for your loan.
- The Lease Option Purchase or Rent to Own agreement is structured for you to buy the home at a fair market price, with payments you determine you can comfortably handle. Our goal is to make this a positive experience for you and the seller. Rent to own must be a win-win situation for everyone!
- We'll execute the agreement with the seller. We handle all the paperwork. You live in the home as if it's your own, and when you've qualified for your loan, then your Lease Option Purchase/ Rent to Own agreement will close and your dream of homeownership will become a reality!
Rent to Own (Sellers)
- If you’re thinking about a simple rental scenario – beware! When you rent to someone who isn't committed to buying your home, you can never be sure that your property won’t fall into disrepair.
- The Rent to Own or Lease Option Purchase approach only markets your home to buyers who are truly serious about home ownership. Because they have the dream of owning their own home,they’ll take great care of your property with the same pride of ownership you have.
- It's Easy to Participate. Even if you already have your home listed with a Realtor, we can work with your Realtor to structure a Rent to Own program that's win-win for everyone. There’s no need to cancel your traditional listing. Ask your Realtor to call us. We frequently partner with listing agents, and we will explain how they can work with us to structure a Rent to Own agreement that’s right for you.
- You still market your home to conventional buyers. Should you sell your home to a conventional buyer before you get an offer to Rent to Own, that’s great! You have nothing to lose when trying out a Rent to Own approach.
- Rent to Own homes move much faster than conventional sales. There’s a pool of thousands of potential buyers you’re missing by only marketing your home one way: the traditional way. Our pre-qualified tenant/buyers are motivated, and we market many homes for sellers in your situation, who have a strong motivation to sell, and we bring a tenant/buyer with an equally strong motivation to become a true homeowner.