How Do We Buy
Two primary methods: a Direct Purchase and a Lease Purchase.
Direct Purchase
Our current direct offers run on average anywhere from 25 to 35 percent below market value for quick completion. The main benefit is that you are removed from title as soon as possible and will not have to wait to receive your funds. You will not have to hire a Realtor, pay a commission, or be inconvenienced with showings.
Lease Purchase
A lease purchase is an alternative to the traditional way of selling your home fast. If you are faced with one or more of the following difficulties, the Lease Purchase Program might be just what you are looking for:
- You are struggling to make your payments and want to save your good credit.
- Your house is on the market and won't sell after many months of listing with a Realtor.
- You are facing foreclosure and want to avoid bankruptcy.
- You just got a job transfer to another city and need to sell your house fast.
- You are anxious to move into another house and do not want to list your home.
- You have little equity in your property.
- You are making two payments.
- Your house is too big or too small.
- Your leaky condo on the market won't sell and is in need of repairs.
- You are an out-of-town owner.
- You are divorcing and need to sell.
- You don't want to deal with tenants — or just want out for whatever reason.
Why consider a Lease Purchase?
- You are guaranteed to sell your house — that is a promise.
- You get fair market price for your property (no hassle).
- Your monthly mortgage payments stop (no more hemorrhage).
- You save money — you don't need to advertise your property anymore.
- All maintenance and repairs are our responsibility and at our cost.
- You remain on title — it's still your property until the option is exercised.
- You are in total control until the property is sold.
- There is no real estate commission for this service — this alone could save you thousands.
- You continue to enjoy the tax advantages (consult your tax professional).
The Lease Purchase Program works with all kinds of mortgages.
Frequently Asked Questions
Q: What is a 'Lease Purchase'?
A lease purchase is essentially a rental agreement combined with a purchase agreement with pre-negotiated terms. During the term of the lease, the buyer has the option to purchase your home at any time. The sales price, length of the term, and rental payments are all clarified in advance. Our objective is to find a tenant/buyer who will eventually qualify for a mortgage.
Q: What if the tenant tears or damages my house?
We cannot guarantee the tenant/buyer will not damage your house, since neither you nor we will be living there with them. However, under our written agreement with you, we guarantee in writing that if this should ever happen, we would repair any damages at our expense — guaranteed. We are accountable to you, not some buyer you don't know.
Q: When will you sell my house?
We can't give you an exact date — it's up to the tenant/buyer to decide. We get paid when our tenant/buyer purchases your property, so we encourage them to buy as quickly as possible. In the meantime, your payments are made, freeing you of the monthly financial burden while we work hard to re-sell your property.
Q: Maybe I should list my home with a Realtor?
That is always an option — Realtors can provide excellent service. However, a real estate agent will not make your payments while you wait for your house to sell, nor guarantee maintenance and repairs. With our lease purchase program we do all of that and more, with no real estate commission, which could save you thousands.
Q: How do I know you will make my payments every month?
We can pay you directly so you make the mortgage payments yourself, or we can pay your bank directly. If we don't pay, your bank will notify you immediately. Either way, you're always on top — the choice is entirely yours, and that is peace of mind.
Q: How can your company or your Lease Program really help me?
We are a real estate investment company, and we know what homeowners go through when they try to sell. Our job is to provide a workable solution, and our commitment is to follow through until your house is sold and you are cashed out — whether we purchase or one of our qualified tenant buyers does. You pay no real estate commission.
Q: How does your company get paid anyway?
We earn our profit from the difference between what we buy the house for and what we re-sell it for to our tenant/buyer. If there are any fees, it is usually the buyer who pays us. You pay no real estate commission whatsoever.
Q: No one I know has ever heard of this before — is this legal?
Lease-to-purchase is a very common method of purchasing commercial real estate, and over the last decade it has become frequently used in the Canadian residential market. It is a legal, binding contract used all across Canada. We are part of a large network that specializes in creative real estate solutions, with staff doing this for well over 10 years in the Vancouver area and across British Columbia.
Have questions? Talk to Agent Andrew — no forms, just a conversation.
