The pathway to homeownership is truly simple and Kimberly Perez and TampaMarket Leaders are here to guide you and help you along every step of the way. No other real estate agent or team in the Tampa Bay Area can bring the level of expertise that our team has to the table. After all, we are the #1 team in Florida for this rent to own program!
Step One: The Rent to Own Application
The first step is to apply for the program. To begin the application process, first review the qualification requirements here on this website. Once you have done that, then complete the pre-qualification application which will let us know if you are a good candidate for the program. If you are, we will ask you to complete the full application which costs $75 and covers all potential residents 18-years old and above.
Your full application is processed within 1-2 days. If approved, the group will notify us of the maximum rent amount that you qualify for.
Step Two: Your Tampa Bay Area Home Search
Now that you’re approved, we will take the max rent that you are approved for and put that into a calculator to see what the budget is for the home purchase. You will meet with Kimberly Perez and the TampaMarket Leaders Team and begin your home search! Here is the cool part! Any home for sale in Central Florida is a potential candidate for the program. Of course, you have the things you want in a home and the investor has some minimum requirements as well. Once we find the home you want, Kimberly Perez will submit the home for approval. Included with the property submittal is a “renovation checklist” that you will complete and details what, if any, repairs or upgrades you would like done to the home. Home approval generally takes less than 8-business hours and once you sign off on the rent amount, we will prepare to submit an offer to the seller.
Step Three: The Home Purchase
Kimberly Perez will work closely with our investor to negotiate the cash purchase of the home that you selected. This is where patience comes in. The seller make take our first offer or may chose to negotiate which could take several days. Once a purchase price is agreed upon between the buyer and seller, our investor will ask you to sign the lease, right to purchase agreement, and ask for the security deposit within 48-hours. The security deposit will be placed in escrow until closing and will be returned to you in the event the sale is not finalized.
Once closing has occurred, the investor will take a few days to get the home “move in ready” which will include fixing anything noted on the home inspection along with any items that are required for rentals. Typically, this can take anywhere from 10-days to several weeks depending on the extent of the work that needs to be done. Don’t worry though, you’ll know your move in date before we place an offer on a house.
Provided courtesy of Kimberly Perez
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