If your house has been on the market for months with hardly a nibble….
If you’ve turned to realtors because “that’s just the way you sell a house…”
If you’re sick of paying two mortgages or just need this house off your hands….
Or if you’d really love to turn away all those people dropping in to tour your house unannounced….
Then the Bright Property Solutions’ Lease Purchase Program might be for you.
What is a lease purchase program?
Since 82% of potential home buyers can’t qualify for a loan today (and inching up as interest rates continue to rise), it can be very difficult for you and your realtor to find someone who can buy your home directly. A lease purchase program (also called rent-to-own) can make this process easier and faster by pulling from a pool of potential buyers (a pool that’s 4x larger than that of your average realtor) that are almost ready to buy, but need a bit more time to qualify for home financing.
With a lease purchase program, we begin by leasing your house from you for a predetermined period of time. We then install a prequalified buyer who works on improving their credit or saving an additional down payment so they can purchase your home on or before the lease term is up. Once the tenant/buyer moves in, we take over and are 100% responsible for everything including all payments, maintenance, and repairs.
Are you real estate agents?
No, we aren’t real estate agents, bankers or mortgage brokers. We are investors who acquire houses and place carefully qualified tenant-buyers into them. This is precisely why we’re able to help you sell your home so fast -- our pool of prequalified buyers interested in a lease purchase/rent-to-own is large and growing daily!
And since we’re home buyers, not realtors or bankers, you don’t have to worry about paying any commissions or watching your equity being whittled away by the usual buyer discounts.
Here’s how the Bright Property Solutions’ Lease Purchase Program can help you sell your house in record time (at full market value)
House Visit + Lease Purchase Agreement
Our first step is to meet with you and visit your house. If we’re confident your house is a good fit for our program, we’ll negotiate a lease purchase agreement together.
The lease purchase agreement will break down things like your cash out price, the length of the rental period, and the responsibilities of each party to the transaction.
What this means for you:
You can be confident that you’ll receive your maximum net proceeds - up to 100% of the fair market value of your home - on or before the lease expiration date. In other words, your profit is locked in from Day 1
We Find & Qualify the Perfect Buyer on Your Behalf
We won’t consider a lease purchase candidate for your home unless we’re 99.99% sure they will qualify to purchase at the end of the rental period. We won’t accept any buyers who don’t meet the qualifications of a third party credit consultant agency and mortgage broker.
Once we execute a lease purchase agreement with the buyer, they are required to follow our proven home-renter to homeowner plan to prepare for their future purchase.
What this means for you:
You don’t have to lose sleep waiting for the perfect buyer -- we find them and qualify them for you (which means no more open houses or last-minute house tours!). And we guarantee your home will be purchased within the term specified in our agreement.
Tenant-Buyer Moves in For Lease Period (and We Take Over Full Responsibility For Everything)
After we’ve finalized the lease purchase agreement with you and our pre-qualified buyer, our tenant-buyer moves in and gets to work qualifying for a loan that’ll let them purchase the house. We work closely with them to get them across the finish line within the lease term.
During this lease term, we take on 100% responsibility as the tenant-buyer’s landlord. We will handle your mortgage payments, repairs, maintenance, and anything else that comes up. All you have to do is wait for a closing date and collect your proceeds at settlement.
What this means for you:
As soon as we’ve installed the tenant-buyer (which can take 30-90 days or less), all responsibility for the house is out of your hands and into ours.
Renter Becomes a Buyer and You Close Out Your Home
On or before the end of the lease date, our carefully pre-qualified buyer (who has been following our home-renter to homeowner plan) will qualify for their mortgage loan. And at that point, they purchase your home.
What this means for you:
You receive full market value for your home, and you’ve just helped a family become happy homeowners.
7113 Carol Lane, Falls Church, VA 22042 SOLD!!
6817 Creekwood Ct Clarksville, MD SOLD!!
FAQs about the Bright Property Solutions’ Lease Purchase Program for home sellers
+ How can you do all of this without charging commission or other fees?
The reason we can do this without charging you fees is that we aren’t realtors or bankers. Instead, we are compensated on the buyer side of the transaction.
+ My realtor has been trying to sell my house for 10 months already. How are you able to do it so quickly?
We’re able to help our clients sell their homes so quickly because we can tap into a buyer market that realtors rarely touch -- the lease purchase/rent-to-own market, which is roughly 4X larger than a realtor’s typical market.
In our market, there are plenty of people that have saved enough for a down payment or can easily afford the monthly payments on mortgage, but don’t qualify for home financing from the bank for one reason or another. In fact, 82% of potential home buyers can’t qualify for a loan today nationally. Thus, this large group of potential homeowners is turning to lease purchase/rent-to-own options to give themselves more time to qualify for a loan
This means that your realtor is only marketing to about 20% of the potential market. We pull from the remaining 80% and attract a lot more interest, meaning faster results for you.
+ What’s the catch?
Although we don’t really consider this a “catch,” some sellers are unclear why they have to wait to receive the proceeds from the sale of their home. Simply put, the wait equals the length of time it takes for a tenant-buyer to qualify for a mortgage loan (which is usually within 12-24 months).
If you’re a seller who needs to get your cash out TODAY, we’re probably not a solution for you (although there are workarounds we can discuss). If you CAN wait, there are some definite benefits to doing it this way. Since we work with a large pool of rent-to-own buyers, we can fill your house quickly. And once that happens, we take on full responsibility for your home, and you can stop paying for your mortgage, repairs, maintenance, taxes, or anything else while we take over.
And because we commit to a full-market value price at the beginning of the lease period, you don’t have to worry about market fluctuations or the value of your house decreasing while you wait for a buyer.
Finally, since you won’t be paying any commissions like you would with a realtor or watch your equity disappear through repeated (and annoying) price reductions….yes, you may have to wait a little while for your money….but you’ll be making far more from the sale when you do go to closing.
+ How do you make sure the buyer is qualified and able to buy after the lease ends?
All potential tenant-buyers are pre-qualified by a third party credit repair and enhancement firm and a mortgage lender we use nationally to vet our candidates.
As a condition of acceptance into our program, we require all tenant-buyers to devote time and money to a credit repair plan during their lease period.
We won’t agree to work with a tenant-buyer and put them in a lease purchase home unless we are 100% sure they’re willing and able to follow the program….with the expectation that they’ll be able to qualify for the loan by the end of the lease period.
Finally, because the buyer is required to put down a significant non-refundable deposit that’s applied to the purchase price only if they close, that “skin in the game” separates the true buyers from the usual renters.
+ How long does it take for you to find a buyer? How long will the buyer lease my home before buying?
Although we’ve located the perfect tenant-buyer in less than 3 days, we typically find a qualified lease purchase buyer in 30-90 days.
The rental period will vary slightly based on how much work the tenant-buyer needs to do to qualify for financing. But in general, the lease period is 24-36 months, with an average closing time of 18 months in the DC/Baltimore Metro areas.
+ What do you mean you take over all responsibility for my house during the rental period?
For the entirety of the lease period, we guarantee full compliance with all terms and conditions of the agreement. And most importantly, we are 100% responsible for all mortgage payments, maintenance, repairs, taxes, and any other issues that might pop up.
+ What if the buyer stops paying their rent during the rental period?
As the guarantors under this arrangement, we cover your house payments and promise full performance of the lease regardless of what may occur during the term of the agreement.
+ What if the tenant-buyer doesn’t buy at the end of the lease?
We guarantee that you will be cashed out at the agreed upon price.
+ What if I owe more than my home is worth?
We can definitely help, and can structure a solution that will still get this house off your hands.
+ Who is the Bright Property Solutions’ Lease Purchase Program for?
This program is for anyone who is struggling to sell their home, not getting the service and attention from their realtors they expected (even though they’re paying their high commission fees), and just wants their house sold ASAP without having to continuously reduce their price.
+ Who isn’t the Bright Property Solutions’ Lease Purchase Program for?
If you’re willing to take a lower offer because you need every dime out of the house to buy your next one, we probably aren’t a good fit (although you are still welcome to schedule a consultation call below to see if we can make it work).