In a
"Bear Market", this program may be a viable way to buy/sell a house. Rent for
twelve (12) months and receive 40% of the total rent you paid back at closing to
purchase the home you are renting. Rent for three (3) months and receive 100%
back at closing. No rebate is applicable beyond twelve (12) months.
This Rent-To-Own program must be approved by each individual property
owner/seller and cannot be combined or used in conjunction with any other
special offers or promotions offered by Future Homes.
12 Month
Rent-To-Own
Example:
Estimated Property value
$
150,000.00
x Rent Factor of .70
=
$
1,050.00
Monthly payments
(plus utilities).
Rent for
12 months
=
$
12,600.00
Total paid for
one (1) year.
Less 40% Rebate
=
$
5,040.00
Accumulated for down payment at
closing.
Actual Rent Paid
After 40% Rebate
=
$
630.00
Monthly
($7,560.00 for 12 months)
Rent-To-Own
for 3 Months Only and Get 100% Back for Down Payment at Closing
Rent-To-Own Terms:
First and last month's rent must be paid, utilities transferred
and post dated cheques issued prior to occupancy.
Personal contents and liability insurance will be the
responsibility of the tenant during the lease if they desire to
take out such insurance
The
Rent to own option must be exercised on or before 60 days from the rental expiration date.
Above subject to change without notice, effective 02/19/07
