Lease with Right to Purchase

Welcome to a new path for homeownership!

The Laurie Flood Team has a new partner to allow more options for home buyers. Whether you are just moving to Austin and aren’t sure where to live or you’re not quite ready to close on a house just yet, let us walk you through your options.

How the program works - program summary

View homes with laurie flood team agent

3rd party investor purchases home

lease home from investor

purchase from investor within 3 years

Or you can simply move out like any leased home

Home Partners provides responsible households with a clear and transparent path to home ownership through its Lease with a Right to Purchase Program. This program provides three years of rent certainty with only a one-year financial commitment on the lease.

Applying

If you want to own a home but cannot currently qualify for a mortgage, or if you would prefer to rent a home now with the goal of purchasing it in the next three to five years, then this program may be for you. Home Partners doesn’t focus exclusively on your credit score. The full credit profile of your entire household is taken into account when they review your application to the Home Partners program.

Ready to Make the Jump?

Your Right to Purchase Agreement gives you the right to purchase the home you selected from Home Partners at a predetermined price for every year of your lease, as long as you have been in compliance with the lease, agreement and other documents. You are under no obligation to buy the home from Home Partners.

Advantages, Key Considerations, and the Lease Agreement

Not a Traditional Lease:
AdvantagesAs with a standard lease agreement, Home Partners requires you to sign a lease for a year and make a security deposit. Unlike a standard lease agreement, you will have renewal options providing three years of rent certainty and the right to purchase the home at a price established when you enter the Right to Purchase Agreement, in accordance with the terms of the Agreement. You can also select the home that you want to live in from all homes included from time to time in Home Partners program as shown on their website.
Key ConsiderationsHome Partners buys homes in specific approved communities, so you can go to their website to see what communities are currently in their program. We will guide you in finding the right home in the right community in the Home Partners’ program. Once you approve the purchase price in your Right to Purchase Agreement, that is the price at which you may purchase the home during the term of the lease, in accordance with the terms of the Agreement, whether the home is later appraised at a higher or lower value. If you do not purchase the home as provided in the Agreement, Home Partners may rent or sell the home to others when your lease ends.
Lease AgreementYour initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for three one-year periods, and you have the right to notify Home Partners if you don’t want to renew the lease. Your full security deposit will be returned as provided in the lease if you decide to leave the home at the end of a lease period and have been in full compliance with the lease.

Advantages

As with a standard lease agreement, Home Partners requires you to sign a lease for a year and make a security deposit. Unlike a standard lease agreement, you will have renewal options providing three years of rent certainty and the right to purchase the home at a price established when you enter the Right to Purchase Agreement, in accordance with the terms of the Agreement. You can also select the home that you want to live in from all homes included from time to time in Home Partners program as shown on their website.

Key Considerations

Home Partners buys homes in specific approved communities, so you can go to their website to see what communities are currently in their program. We will guide you in finding the right home in the right community in the Home Partners’ program. Once you approve the purchase price in your Right to Purchase Agreement, that is the price at which you may purchase the home during the term of the lease, in accordance with the terms of the Agreement, whether the home is later appraised at a higher or lower value. If you do not purchase the home as provided in the Agreement, Home Partners may rent or sell the home to others when your lease ends.

Lease Agreement

Your initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for three one-year periods, and you have the right to notify Home Partners if you don’t want to renew the lease. Your full security deposit will be returned as provided in the lease if you decide to leave the home at the end of a lease period and have been in full compliance with the lease.

Learn more about this program, send us a message!

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