What is RENT TO OWN Program!

Lynn Kronk & Brenda Bourland — Mon, 03 Sep 2007 14:33:00 GMT

What this means for an INVESTOR! We have a group of investors that purchase properties that they hold for a one year plus 1 day. According to IRS guidlines with timeframe allows investors to be taxed on a Long Term Capital Gain. If held for less that one year they would be taxed on Short Term Capital Gain. This could mean a difference of 10-15% savings in taxes to be paid during the year the property is sold.

What this means for a prospective BUYER! The purchasers who want to improve their credit score to get the best interest rate and who want home ownership are the primary target for this market. It allows the purchasers to lease for a one year period, have pride of ownership and close when their credit scores are improved to get the best lender program to fit their needs.

What this means for the REALTOR! Real Estate agents who have properties that have been on the market, need cosmetic upgrades (paint, carpet, new light fixtures, plantation blinds). Maybe their Sellers have an urgency to sell. This is the property that our investors are interested in purchasing as an investment.

How we work with BUYERS!

Lynn Kronk & Brenda Bourland — Mon, 03 Sep 2007 14:20:00 GMT

When we get a call from a BUYER I never spoke to before, we explain that we need to meet in the ofice - sellers expect that we have met with the BUYERS and that they are pre-approved for a mortgage - and sellers expect a 24 hour notice before showing (preferrably).

Now, some BUYERS will insist on meeting at the house. We will give them the benefit of the doubt - the first time only. We will also call them BEFORE we go out to remind them of our appointment. If we get a voice mail or answering machine, we ask that they call us back to reconfirm the appointment.

If they're a no-show. We will call. If we get no answer and if they're a no show after 30 minutes, we will leave. If they happen to call back, we will tell them that we are not able to work with them. Period. End of discussion.

We've had it happen where they were a no show. If they're a no-show and if they didn't have the courtesy to call us, they do not get a second change - ever!

Lynn Kronk & Brenda Bourland, REALTORS : Buyer Information

What is RENT TO OWN Program!

How we work with BUYERS!