Yo Hablo Espaol- We are a small local Landlord who owns homes in Omaha, Council Bluffs, Oakland, and Bellevue. We currently rent our properties, but we are now offering properties with a Rent to Own option. The agreement would technically be a Lease Option Contract. The majority of our homes are in Council Bluffs, IA and South Omaha. The pictures in this ad are sles of the finish work in almost all of our homes. The pictures will offer a general idea of the level of finish, but they are not necessarily from the exact property that we may show you. However, this will give you an idea of what our traditional finishes look like. In order to pre-qualify for a lease option, you must first meet the criteria for a traditional rental agreement. However, you must also have the ability to pay the option money which will be credited towards the purchase price. You will be required to do a background and credit check, but these things alone will not disqualify you from a lease option. As a general guideline, your household gross income must be at least three times the amount of the monthly rental payment. Additionally, you must have at least 3 of the purchase price to pay the option fee that gives you the option to purchase the home as soon as you are ready. This structure is ideal for someone who has money for a downpayment, but does not currently qualify for a bank loan for some reason. Some exles of this may be someone who is going through a divorce, someone with bad credit, someone with no credit, or someone who went through a recent bankruptcy. A lease option transaction allows you to get into a home quickly, you have the freedom to make improvements to the home, and make it your own. You have the ability to lock in a guaranteed purchase price for that home before you are able to actually meet the financial requirements and make the purchase. Most option contracts will offer you a fixed price to purchase the home anytime within the next 24-30 months. The structure is called a Lease Option and here are a few of the basic detailsYou sign a lease on the property and move in as a tenant renting the propertyThe monthly rent is agreed upon in the lease agreementYou sign an addendum and a second contract with an option to buy the property at a predetermined fixed price You pay an option fee in order to reserve the right to purchase the property any time you choose to purchase within the next 1-30 monthsThe option fee is usually between 3.5 to 5 of the purchase priceThe option fee is credited towards the purchase price if you exercise the optionYou have a set period of time to purchase the home Usually up to 24 to 30 monthsIf you choose not to purchase the home in that period, you would lose the option fee or you would be able to renegotiate a new purchase price based on the current market value of the property The option fee is non-refundable, but you do have time to exercise the purchase This is a great opportunity for someone who falls into the following categories You have the cash to purchase a home, but you dont have the credit andor there is something else holding you backYou are currently rebuilding your credit score and trying to fix your creditYou have a new job and dont currently qualify for bank financing, but you know that you will in the near future 24-30 monthsYou want to move into a home and make it your own with picking out some finishes, changing paint colors, or making other improvementsYou want your children and family to be in a neighborhood or school district long term and you do not want to have to move againWith most lease option agreements you are responsible for managing all repairs and maintenance to the home, and you can make cosmetic changes to the homeIf you are interested in working with us, we have over 100 homes in the Omaha, Council Bluffs, Oakland, and Bellevue area that will be coming available in the next year.In order to qualify, you will need to go through the standard lease qualification process. This includes a credit check, background check, and basic financial qualifications. In addition to the above, you will also need to be able to put down 3.5-5 of the purchase price of the home. Thanks for your interest and please let us know if you would like to get a list of out available homes
