How Does A Percentage Ownership Agreement Work Compare To House Rental Or Rent To Own?
How’s it work? The percentage ownership process is actually pretty simple. By paying the house rental, you are building your equity from Day 1. You will receive percentage ownership from Day 1. Within approximately 2 years you will own 100% of the property by way of a new mortgage and the property title will transfer to your name via an appointed Lawyer.
- Join our property list and tell us what type of home you’re looking for, your budget, etc (START with the form to the right)
- After we receive your information we will call you and chat and answer any further questions you may have.
- To proceed you will need to prove that your credit is average or above. Don’t know what your credit is? We can help you there. We will show you how you can easily pull your credit bureau.
- You may have seen a property we are advertising that is available for percentage ownership or maybe you just heard about our website. Either or we’ll send you percentage ownership homes that fit your criteria. If the properties in our inventory does not meet your criteria, we can do a personal search for you.
- After you’re approved for a percentage ownership property, we’ll agree on a monthly rent amount that fits your budget and the future purchase terms. Then just sign the documents and move on in!
- Move in and pay your monthly payments on-time… then at the end of the percentage ownership agreement term you become 100% owner and title is transferred to your name.
How Long Are Percentage Ownership Terms?
Your percentage ownership agreement will spell out the length of time that you have to complete the purchase of the property – typically 1-2 years, but in certain circumstances we may extend the agreement term if you need more time so we can help you accumulate your down deposit up to the point where you can qualify for a bank loan.
The purchase of your home usually takes place through a traditional mortgage loan, but there are other ways to complete the purchase, depending on your finances.
That’s the process!
Once you’ve completed your mortgage, you’re done – now you own 100% of your home!