Community & Business Development

If you are responsible and can make on time payments, we can help you get into a position to buy your new home. Lease purchasing is ideal for anyone who cannot qualify for a mortgage today, but can within the next year or so.  You might be self-employed, starting a new job, recently divorced, new to the area, or you have past or current credit issues.  Perhaps you’ve found that prices are inflating faster than you can save your down payment.  We can even work with folks who have a foreclosure, short sales or bankruptcy on their record. 

A lease purchase is an opportunity to lock in your purchase price while you are still renting.  You will be given a written, legal “option” to purchase your home for a certain price within the next year (or an agreed term).  Our expectation is that you care for the property as your own home, handling routine maintenance and repairs.  This is a great opportunity to get a feel for what it’s like to be a homeowner without having to actually deal with getting a mortgage, etc.

One great advantage is that you may be able to earn credit towards your purchase and/or other costs by paying rent on time and properly maintaining the home.  Some tenant-buyers earn credits which they may be able to use towards the down payment or closing costs.  Part of your move in payment – the option consideration fee – is instant credit towards your purchase.  You will have up to a year (or more in some cases) to improve any issues, creditworthiness while locking in your purchase price today.

While we do personally know some Realtors who understand how to properly set up Lease Options, most of the Realtors we have encountered do not. (Our personal feeling is that some Realtors might also fear losing out on potential commissions from your listing.)

Another important point is that our leases are “triple net” with the tenant taking responsibility for all routine maintenance and repairs on the home. Our contract is structured to highly incentivize the tenant to purchase the home and provides the vehicle to ensure they are in position.  We also understand finance, and what it takes to get financing, and we refer our clients to credit repair and other professionals, when appropriate.  We believe in our clients and are willing to help this become the turning point in their lives!

Most Realtors have no way of knowing what it will take to put someone in position to get a mortgage.   Our involvement in qualifying a client for our program goes far beyond having someone else give them a credit score. Our clients come to us because they WANT to own a home and they are willing to work to get one.  Your tenant will be qualified with the same standards that we use for our homes.

In order to qualify for one of our houses, you will need to be able to put down a reasonable option consideration fee (typically 3-5% of the purchase price) which usually applies 100% towards the purchase price; have the ability to make monthly payments on time; and have a willingness to improve your credit situation, if needed, so you can ultimately buy the home.

 We want to set you up for long-term success in a home that is truly affordable. We will start by looking at your gross monthly income to make sure it is at least three to four times the monthly housing payment.

**Complete Our Tenant Buyers Application.**

Without prior knowledge and experience it would be difficult for you to provide the same level of value to the tenants that we are able to offer. Our good standing with previous clients allows us to attract a better caliber of tenant.

**If you wish to “do it yourself” let us guide you through the process**

Don’t let your prior credit history keep you from moving into the home of your dreams.  If you have bad credit, all that we ask is that you demonstrate a willingness to improve your credit score so you can qualify for a loan at the end of the lease period, can afford the monthly payment, and that you provide “skin in the game”.  We have a plethora of resources to help you achieve this goal.

Our lease option timeframes are generally for 12 months.  Sometimes, depending on the situation, the lease option term may be extended.  We’ll try to match the house to your credit situation so you have plenty of time to get financing.

You can move out, or possibly negotiate a new agreement with new terms.  If for some reason the house doesn’t appraise, we may be able to extend the lease option term.

If you decide not to buy the house, you are released from all obligations without additional cost.  Your upfront option consideration and any rent credit will be forfeited.

We accept all kinds of credit situations, from good, bad to ugly.  We do require a copy of your credit report and we will perform a background check before you move in.  The credit report is pulled mainly because we want to see what items that you’ll need to work on during your lease so you can eventually qualify for a mortgage.  There may derogatory items on your credit that shouldn’t even be there and knowing this in advance gives plenty of time to clear them up.  You may pull a report for your own use from one of the many credit reporting websites, and this will not show up as an inquiry on your credit.  Our applications also provide the chance to do a credit report too.  Depending on your situation, we may require you to work with a credit repair company.

You may obtain a copy of your own report from each of the 3 major agencies online at freecreditreport.com.  You will also receive your credit score and advice on improving your score.  We require a report from only 1 agency.

A comparable market analysis is done to find recent sales of similar homes in the area.  Price adjustments are made based on the size, age and condition of the comparable houses and for inflation prior to your purchase.  Lease Option homes are typically priced with projected future value in mind, so at first glance they may appear to be priced higher than similar homes in the area.  Keep in mind that people who are already prequalified to buy are usually in a position to negotiate better pricing. However, with earned credits, your final cost may actually end up being less than those of similar homes.

**Ask About Earned Credits**

Please let us know in advance when you are ready to buy so we can help guide you through the process!  In most cases, you will work with a mortgage loan originator (MLO) who facilitate the mortgage loan process.  We are happy to provide MLO referrals upon request.  No realtor is necessary, as the terms of the sale have already been agreed to up front.  We will most likely execute a new purchase and sale agreement according to the terms outlined in the option agreement, or we may be able to simply use the original lease and option agreements.  You will sign the final documents at a licensed escrow company, who will prepare the deeds and other documents and record the final sale.

In most situations, the cost to you is nothing.  Give N Go get’s compensated by the tenant-buyer, out of the non-refundable option consideration fee.  This fee may become part of their down payment when they exercise their option and buy the home. At that point, you will need to credit them that money at the end of the lease option term, on the purchase & sale agreement, only if and when they buy the home.

**If you wish to “do it yourself” let us guide you through the process**

Again, it depends.  In some situations, once the all of the paperwork is signed with the Tenant-Buyer, and assigned over to you, we are completely out of the deal.  In those cases, unless we agree to do otherwise, we would have no involvement in collecting the rent.

In other situations, we may agree to “stay in the middle” of the deal, wherein will be the “perfect tenant” and make sure rent is paid on time, deal with any repairs and maintenance, handle tenant calls and issues, etc.

A Realtor will likely want you to use the MLS form, which does not provide what you want and is a great way to get sued. Why? The standard MLS document protects the Realtor, not you!  It also provides the tenant an equitable interest in the property, which means if you get a “wise guy” for a tenant, you will have to first foreclose and then evict.  With our lease option agreements, if the situation requires us to remove a tenant it is with a straight eviction.

While we do personally know some Realtors who understand how to properly set up Lease Options, most of the Realtors we have encountered do not. (Our personal feeling is that some Realtors might also fear losing out on potential commissions from your listing.)

Another important point is that our leases are “triple net” with the tenant taking responsibility for all routine maintenance and repairs on the home. Our contract is structured to highly incentivize the tenant to purchase the home and provides the vehicle to ensure they are in position.  We also understand finance, and what it takes to get financing, and we refer our clients to credit repair and other professionals, when appropriate.  We believe in our clients and are willing to help this become the turning point in their lives!

Most Realtors have no way of knowing what it will take to put someone in position to get a mortgage.   Our involvement in qualifying a client for our program goes far beyond having someone else give them a credit score. Our clients come to us because they WANT to own a home and they are willing to work to get one.  Your tenant will be qualified with the same standards that we use for our homes.

You can but let our experts help! Single properties will most likely attract a career renter, which is not what anyone want. Career renters don’t exercise the option to buy, often destroy the homes, want to harass you at every opportunity about repairs, and generally want to pay less than your cost to carry the home. Our tenant buyers come to us because they are interested in our lease option program. Very often our first contact is non-specific to a home. This is our business, and we’re amazing at it. 

 Without prior knowledge and experience it would be difficult for you to provide the same level of value to the tenants that we are able to offer. Our good standing with previous clients allows us to attract a better caliber of tenant.

**If you wish to “do it yourself” let us guide you through the process**

Our contracts are set up to put them in a position to eventually purchase the home. We understand finance and we have a large network of professionals to whom we refer.  We can even set them up to report their monthly rent payments to the national credit bureaus!