Q: Is Home Buying Center a good standing member of the Better Business Bureau?
A: YES we have AAA standing for over 20 years!
Q: What kind of properties do you sell on Rent-to-Own?
A: Houses, townhouse and condos. From time to time, we do have houses available on acreage. We generally do not sell mobile homes, floating homes or other non-conforming types of real estate.
Q: Where do you have listings for Rent-to-Owns?
A: We have listings all over North America. We buy when prices are lower, so we may not have listings in areas where markets are heated.
Q: What will happen to our initial deposit and down payment credits if we can’t complete the transaction?
A: It is our endeavour at HBC to do whatever it takes to help you take ownership. With our association with leading mortgage brokerage firms in Vancouver we will look at all avenues to help you complete. Our associated mortgage brokers works with several banks, trust companies, life insurance lenders, credit unions and private investors. If required, HBC may entertain ourselves to help you with secondary mortgage financing.
If however, after all possible avenues have been looked at and your still not in a position to qualify for whatever reason, you may lose portion or all o0f your deposit similar to car leasing and you will not be entitled to your monthly credits as well. However, at time of negotiations, HBC is open to all offers and may accept a clause to provide for a full or partial refund of the initial deposit. If we are given few months notice and if the property is returned to us in the same condition or better as when you received it or if you find someone to take your place we would be very accommodating and will help you to recover your investment.
Q: Forget about the ownership, do you have simple rentals available?
A: Generally no. We are not a rental agency, you may wish to try your local paper. However, we do have the odd rental available from time to time, and it is usually only available on a short-term basis.
Q: Are your contracts legal?
A: Yes. For buying on Rent-to-Own, we use a standard real estate contract of purchase and sale similar to what you would normally use when buying direct with a Realtor or lawyer. The main difference is that the completion date is usually 2 or 3 years later rather than 2 or 3 months when buying direct.