There's a great rent-to-own program available in the Southern California market that's new, innovative, and a great option for many different types of buyers and renters.
As a result of the housing crisis, there was a program built to help homeowners who lost their homes to foreclosures, short sales, and bankruptcy. Currently, this program has a good application for upwardly mobile people, as well as anyone looking to rent in the Southern California market. This is mostly because we're seeing very few opportunities in the Southern California market where people can rent a property with the option to purchase it at a later time.
This program allows you to use the whole MLS and have all homes for sale at your disposal. It's a great option for people who are relocating, new to the area, people unsure of how long they'll be in the area, and millennials who like to be a lot more mobile. This option lets you try out the location and see if you want to stay longer.
"It's a great option for anyone relocating to our area."
The program lets you rent with an option to buy and is backed by a big financial company. You can use the whole MLS to find a home or area you like, then engage a real estate agent to make an offer for you on behalf of the company. Then, the company buys the home of your choice in cash. After they buy it and go through the regular escrow period, you are then renting the property once it closes.
You'll sign an agreement in regards to the program, and once the property is purchased, you'll make a deposit for the rent when the down payment is made on the home. You then move in as a renter, but the good news is that you're not obligated to purchase the home after one year if you don't like it.
You can option up to five years as well. This makes the program especially appealing to upwardly mobile people because you can move after one year if you get a new job, for example.
It's a great program that I'd love to tell you more about. If you have any questions, don't hesitate to give me a call or send me an email. Until then, stay safe and stay happy!