You may not be ready to buy a house today, but you can still live in the home of your dreams with help from Ebby Halliday Realtors and Home Partners of America.
Home Partners of America expands rental inventory options by casting a wider net to include properties not usually available for rent. For sellers, a Home Partners-qualified home can expand your potential buyer pool by marketing the property for lease, as well as for sale. If a qualified renter is interested, Home Partners of America may buy your home with a quick close and in cash.
Ebby Halliday Realtors can help you find or sell a Home Partners-qualified home. Here’s how it works:
1. Get Approved
• If an application is approved, Home Partners will outline the maximum monthly rent of the home for which the prospective household qualifies.
2. Find a Home Partners qualified home
• Prospective households will work with a Realtor to find a Home Partners-qualified home.
• Once a home is identified and approved by Home Partners, Home Partners will attempt to purchase the home. The outcome depends on certain conditions being met such as agreeing on a purchase price with the seller, a satisfactory inspection, attorney review of the purchase contract, and other closing conditions being satisfied.
3. Home Partners purchases the qualified home
• Once Home Partners’ offer for the home is accepted by the seller, prospective households will be required to sign a one-year lease for the home as well as a Right to Purchase Agreement.
4. Right to Purchase
• The household has the right to purchase the home at any time during their residency at the pre-set purchase price. If the household chooses not to renew the lease, they can walk away without penalty.
For more information, contact your Ebby agent today.