✧ Properties must be located in an approved community. Click Here to see a complete list of Eligible Communities Our investor wants to purchase homes in neighborhood communities within close proximity to centers of activity.
✧ They will not purchase homes located within close proximity to structures that could impair value including industrial buildings, high traffic roads, railroad tracks, or airport runways.
✧ Homes within a 100-year flood zone do not qualify except in Florida where a base flood elevation difference of -1.5 or higher is allowed.
✧ They will not consider homes in subdivisions or new construction phases that are less than 50% complete.
✧ They will not consider properties with tax rates including special service/community development/Mello-Roos fees greater than 4% of the property’s value.
Rental Inspections: Many county or municipal governments require a rental license inspection prior to resident move-in. Prospective residents who select homes in these areas should be aware that move-in dates could be thirty days or more after the closing date. Please check with the county and municipality in which the property is located to confirm their rental license requirements.
✧ Short sale, foreclosure or probate properties, bank-owned properties, or any property sold at auction or by a government agency do not qualify
✧ Sellers must be willing to use the standard state contract and not require addenda aside from a builder warranty (They will use the Pulte Homes contract in certain markets – please inquire for more information).
✧ Cannot purchase condominiums, including single-family homes or townhomes that are condominium ownership.
✧ They cannot purchase commercial, modular homes, log cabins, mixed-use or manufactured housing properties.
✧ The property must be on two (2) acres or less. Please be aware that maintenance of all landscaping is a resident responsibility.
✧ Homes must be in good cosmetic and structural condition including any outbuildings
✧ Homes not to exceed the age of 100 years
✧ Homes that are over 30 years old that are in original condition or with obsolete floorplans, electrical, or plumbing.
✧ They will not purchase incomplete new construction homes or unfinished rehab projects.
✧ Homes with a door on a raised level must have a balcony, deck, staircase or railing built on the exterior. (commonly seen in new construction where the builder has yet to or will not add a deck)
✧ Homes with liens, open permits or unpermitted rehab work will not be considered.
✧ Homes must have central air conditioning (exceptions may apply in CO, OR, and WA). All new construction homes must have central AC regardless of location.
✧ Homes must not have any environmental hazards (e.g. mold, lead paint, vermiculite insulation, asbestos, etc.).
✧ Homes with seepage or subject to flooding will not be considered.
✧ Homes with leased solar panels will not be considered (Sellers may pay off the lease and remove the solar panels prior to sale).
✧ They will not purchase homes that use propane tanks as the primary heating source.
✧ Homes with a history of sinkholes anywhere on or near the property will not be considered.
✧ They will not purchase houses that have sunrooms with glass ceilings.
✧ They will not purchase furnished homes or negotiate for personal property aside from standard appliances.
NOTE: Prior to closing, homes must be vacant and empty of all seller’s personal belongings.
✧ They will not purchase homes with in-ground pools outside of Texas, Georgia, Florida, Southern California, and Arizona.
✧ They will not purchase homes with above ground pools unless the Seller agrees to remove the pool and re-sod any bare potions of the lawn prior to closing.
✧ They will not purchase homes with indoor pools or large exercise spas.
Homeowner Association (HOAs)
✧ Homes must be located in HOAs that allow leasing without requirements for background/credit checks or interviews.
✧ Age-restricted communities or in HOAs that require a social, tennis, golf or country club membership do not qualify
✧ Total annual HOA dues must not exceed 1% of list price. HOA transfer fees and capital contributions must be reasonable and are considered on a case-by-case basis.
There are a few other HOA conditions that will disqualify a property from Home Partners’ consideration. These include:
✧ Minimum period of owner occupancy
✧ Maximum rental period
✧ Board approval of the lease post-closing
✧ Board requirement to be a third party beneficiary of the lease documents or the right to evict the tenant
✧ Rental caps (exceptions are considered on a case-by-case basis)
✧ Our investment partner is able to provide HOAs with basic resident information, such as name, phone number, email, vehicle information and pet information.
✧ Documentation Requirements
When submitting an HOA property for acquisition consideration, the following HOA documents will be reviewed as part of the programs' due diligence:
✧ Certificate of Insurance
✧ Covenants, Conditions, and Restrictions (CCRs)
✧ Rules & Regulations (If applicable)