4,572,283
It seems like delayed gratification might work and no fees/paperwork are needed.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Diana Dahlberg
Pleasant Prairie, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Peter Testa
Danbury, CT
-
Steffy Hristova
Tempe, AZ
-
Barbara Todaro
Franklin, MA
-
Doug Dawes
Topsfield, MA
5,583,278
oh, how times have changed and not necessarily for the better....
I always closed my own deals.... no one did any of my transactions....no one touched any of them....
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Diana Dahlberg
Pleasant Prairie, WI
-
Nina Hollander, Broker
Charlotte, NC
-
Steffy Hristova
Tempe, AZ
-
Doug Dawes
Topsfield, MA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Michael Jacobs
Pasadena, CA
1,502,998
No. I believe something similar was asked recently too. If they don't qualify for financing, they wait until they do.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Steffy Hristova
Tempe, AZ
-
Barbara Todaro
Franklin, MA
-
Doug Dawes
Topsfield, MA
921,504
Hmmm, smells like a lease to own.
I have done lease to own but have not worked with Home Partners of America.
Works great, just like a reverse mortgage, as long as everything goes according to plan.
But, we all know 'lease to own' was NEVER intended by investors for the purpose of transferring ownership.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Diana Dahlberg
Pleasant Prairie, WI
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
-
Lyn Sims
Schaumburg, IL
2,178,603
I closed several deals with a different company that worked a similar concept. The guaranteed lease period was 2 years, not 5. I would caution you to clarify who your fiduciary duty is to. Is it to Home Parners as the actual buyer or the people you are working with to find a home? You are calling the "shoppers" the client but they aren't actually buying the property at this time.
It closes like any other sale and the agent gets paid. I don't know the details of Home Partners but from what I can tell this is a very similar program, based on Home Partners buying the property and leasing back to the intended buyer for a period of time. I would be curious to know what the Home Parners terms are to the lessee.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Steffy Hristova
Tempe, AZ
1,196,798
No, I haven't
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Steffy Hristova
Tempe, AZ
-
Doug Dawes
Topsfield, MA
3,125,842
No, have not heard of that company. Besides, some people may NEVER qualify to purchase a home...it may end up to be just a lease. I guess they are prepared to take that risk Mike.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
1,844,301
I have heard of something like this only under a different name years ago. Don't remember the 'hitch' but it wasn't as easy as everyone said.
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Debe Maxwell, CRS
Charlotte, NC
-
Steffy Hristova
Tempe, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
6,393,609
History repeating, people buying homes that they cannot afford?
Hopefully HPA is prepared to own these homes when things start to tumble.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
660,906
I think they are just starting to be more active in our market. I haven't worked with them. Carol Williams has listed some some important questions to clarify for all parties involved in the transaction.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Carol Williams
Wenatchee, WA
5,230,113
I have not but, Ribbon works along those lines and have a great reputation here. Not sure if they're in your area though, Mike. The difference in Home Partners and Ribbon - Ribbon doesn't steal your buyers and you actually get paid when they are qualified to purchase the home. #BeenThereBeenBurned
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Bob "RealMan" Timm
Minot, ND
-
Peter Testa
Danbury, CT
-
Michael Jacobs
Pasadena, CA
1,725,996
Definitely a lease purchase situation for the buer. I am sure that by the time the buyer jumps through all the necessary hoops for HPA, the target property will be already sold
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Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
2,071,025
No, not me.
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Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
2,390,620
I have not Mike Easton but I like the idea.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Peter Testa
Danbury, CT
679,404
I am not familiar with them. Sorry.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
3,345,091
I have not.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
1,598,452
No, I don't.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
758,035
I have not. Why would I involve a 3rd party in my deal? I only work with qualified buyers.
Everyone has got something to sell you. This guy is not buying any of it.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
1,712,676
Not me and this s not the type of transaction I would want to do.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,882,355
Is this a rent to own type program?
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
7,836,419
Nope.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
613,494
I had a buyer approach me with something similiar a couple of years ago...can't remember which one.
I read the paperwork and then told the buyer what it really said...at the end of the lease they raise the price to cover all the closing costs...and if the property does not appraise, they simply raise the rent and keep the tenant renting. I told her not to buy it. She was grateful and did not buy.
Eve
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Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
5,216,409
The simple answer is "no"!
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
5,772,575
Mike,
Interesting have not heard of it. A
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Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
5,104,931
341,353
Hey Mike Easton !
Divvyhomes.com is a similar program that has recently entered the Atlanta market. It is lease to own. The sales agent/Realtor keeps their Buyer that they send to Divvy and helps the Buyer find almost any home in the MLS (conditions apply) of their choosing. If I recall, the list price of a house is capped at $325K. The agent/Realtor gets paid upfront the standard 3% of sales price (no waiting for a closing years out) once the Buyer selects their home and their paperwork is approved.
Based on what I have learned from them so far, this biz model seems to be a win/win. However, I have not yet had a transaction with Divvy but I am keeping them as an "ace in my back pocket" for any credit challenged Buyers that come my way.
Cheers!
5,868,554
1,311,397
I am aware of this type of program. I have not been involved in such a transaction. I see it as the a new twist on the old rent-to-own concept. I suspect the wanna-be-owner but actual renter might be better off saving up for a down payment and/or cleaning up their credit rather then enter a transaction with high rent and associated fees.