Rent ANY HOME with a Right to Purchase
Welcome to a NEW path to ownership®
We are committed to making homeownership a reality for more people. Our process is easy, transparent, and built on a foundation of choice and flexibility. We are helping more people get into great homes, in neighborhoods they love, with the opportunity to build a more secure financial future. Whether you are brand new to Minnesota, a first time homebuyer, or simply would just like to rent a house over and apartment, this program may be for you!
Our program provides responsible households a transparent path to homeownership through its Rent with a Right to Purchase Program. With just one year of rental commitment, you can test drive your next home before you buy at a pre-determined price!
Here's how it works:
If you qualify for the program, you get to pick a house that is FOR SALE (based on your approved rent) in a community where the investor purchases and you would get to rent that house. The investment firm purchases the home, and you are only obligated to a 1 YEAR LEASE term at a time, with a right to renew your lease for up to 5 years. You can purchase the home at any time for a pre-agreed upon price. Plus, there is NO PENALTY if you decide not to purchase the home!
Applying for the program:
Prospective residents start the process by registering for an account and filling out a Pre-Qualification Application that I send to you over email. *Anyone who is 18 years or older and will reside in the home must complete both the Pre-Qualification and the Full Application.*
If the Pre-Qualification Application is approved, the applicant will be required to submit a Full Application for a full credit and background check. The Full Application will be 'incomplete' until the application fee is paid in full.
If a Full Application is approved, we will outline the maximum Monthly Rent of the home for which the prospective resident qualifies.
Not quite ready to buy a home, relocating, or simply would like to try your home before you buy? Our Rent with A Right to Purchase Program may be for you!
✧ 580+ credit score
✧ Clean rental/criminal background
✧ $45,000+ household income
Find a qualified home:
This is where the fun begins! Approved prospective residents will work with me, a licensed Realtor®, to find an approved home in your community. This can be ANY home listed on the MLS or For Sale By Owner in the state of Minnesota (certain exclusions apply).
Homes that qualify in MN:
✧ Listed at $100,000-$400,000
✧ 2-6 bedrooms
✧ On a lot sized 0-2 acres
✧ No short sales, foreclosures or distressed properties
✧ New construction is allowed with certain conditions (see FAQs for more info)
✧ Condominiums are not allowed
Once a home is identified and approved, your Realtor® (me) will submit it to our investor who will attempt to purchase the home. The outcome of which will depend on certain conditions being met such as: agreeing on a purchase price with the seller, a satisfactory inspection, attorney review of the purchase contract, and other closing conditions being satisfied.
Once the investor purchases the qualified home, the prospective household leases the home. Prospective residents will be expected to sign a 1-5 year lease for the home as well as the Right to Purchase Agreement. The Right to Purchase Agreement is the document that allows the leasee to execute their Right to Purchase the home at a pre-determined rate - if they choose to do so. There is no penalties for not executing your Right to Purchase.
Fill out the contact form below so I can best connect with you and answer any questions you may have about the program. Together, we can see if taking the next step might be right for you.